My experience with St. - rd5309
My experience with St. Albert Honda was and still is a nightmare. I purchased a car from them 4.5 years ago. We had an agreement in place with our salesman for $31,000 all in. (GST, everything). We put $1000 down, so the amount of the car was actually $30,000 all in. The girl in the finance department butchered the contract so bad that it had to be re-done. The contract including GST at one point had the car at $48,000.
Then, when she changed the contract, she conveniently forgot to change the bi-weekly payment amount. The payments were originally done up at $267 every 2 weeks over 7 years, but in fact, should have been roughly $220. I pointed this out to her. She stated that "it's already been sent off to the bank, so we can't change it, but instead of the term being over 7 years the larger payment will shorten the term to roughly 5.5 years.... My mistake for believing her that it was all straightened out.
Two years ago, I checked with the bank to see what the balance owing on the car was. When they told me, it seemed high, so I sent emails to St. Albert Honda with my concerns, and they didn't respond. 4.5 years into this loan that should be paid off a year from now on a $30,000 loan, I was recently told by the bank that the amount outstanding is still $11,400. At 6.7%, no matter how many different auto loan calculators you use, it shows that I should have only approximately $7000 left owing. When I asked the bank to see a detailed history of the account including payments, they couldn't give it to me. I've been told recently, that this bank no longer deals with auto loans. So, there is no way of collaborating this mess.
All I'm going to say is if you go to this dealership, look over your contract with a fine-tooth comb, then follow up with your bank immediately. If you don't you may end up paying 20% more for your vehicle than you expected.
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