Dishonest Car Dearler

[sacrificium]

Went to put a deposit of $2k for a used Kia caren at Starise Automobile (Starise Credit) at turf city. In contract stated loan $78k at 3.58% interest and admin fees $500. Bank came back at very loan which I cannot afford the huge down payment. So they recommend in house finance at $73k loan at 3.98% and $1k admin fees. They said if cannot accept will forfeit deposit. So I lost the deposit. The sales man is Milo. I had no choice but to file claim at state court. Do not believe what they said. They will sweet talk until the deal is so good for you to put deposit. Then they will force you to accept new terms or lose deposit.

How come interest rate is so high? That period should be 2.x percent.

 

[eversomighty]

I think he is buying to do grab. Tiagong phv interest higher

But seriously if u don't have money for min 30% down payment, I don't think u can afford a car

3.65% onwards for PHV cars. heard from a driver who got his own car.

 

[eversomighty]

How come interest rate is so high? That period should be 2.x percent.

inhouse loan, zero downpayment is like that one.

 

[Kia7200]

This is y poor become poorer

 

[believe88]

it saddens me to see people stretching to get a brand new car when a old one would do. It seems those dealers are preying on them via $0 dp and ads