QUESTION

If i'm receiving credit on a vehicle should that show on contract? and should the total amount owed on the trade in be added rather than just the diff

Asked on Jan 14th, 2017 on Consumer Law - New York
More details to this question:
I recently visited a used car dealership looking to trade in my old vehicle for another. I owed $14,950 on my old car loan, the dealer told me they would pay $6,000 for my trade, which left me with a difference of $8,950. The finance manager said they would tack on the difference of the amount owed on the old vehicle to the price of the new one (which originally was $23,600) making the total selling price of the new vehicle $32,550(23,000+8950). He did this off contract so the subtraction of $6,000 is no where on paper. Since that calculation was done off paper the starting selling price of the vehicle on the actual contract is $32,550. What I noticed was they also added the whole $14,950 to that price as well as boosting the total with taxes and fees ($1,763.91 NY tax, $37 inspection, $265 registration, $75 doc fee) which totaled $36,965. I argued the final price and the finance guy explained the math saying that his numbers were right, I feel he charged me the 8,950 twice.
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Answered on Jan 15th, 2017 at 9:14 AM
He did charge you twice, but you agreed in the contract.  If you signed it, you are going to have a tough time now showing there was a different deal.
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