NEW BUYERS BEWARE! I purchased a vehicle last Saturday (January 26th 2019) from Mercedes Benz Escondido with an 1.99 APR rate. I traded in my old vehicle, and finances a new vehicle. Yesterday (after a week - Feb 1st 2019) dealer called me and mentioned that they are sorry that they made a mistake and Mercedes Finance approves the loan not with an APR 1.99 but 2.99 instead. So he told me that I need stop by the dealer to sign the new contract.
I said "we have a contract and this should not be my problem at all. I dropped my vehicle to you guys and got MY new car and drove it home. After a week you are calling and telling me that APR rate has been increased to 2.99 which is unacceptable". And the sales man said I can return the vehicle back if I don't want to sign the new contract. I told them I don't want to do anything before I get a legal advice because I will definitely fight to the end if I am right.
Based on the law in California, my lawyer told me that for them to be able to change the rate, the contract should clearly indicate that "This contract is NOT Final" which does not say anywhere on my contract so it is binding them. That 1 percent APR increase makes 20 bucks per month and total of around $1500 in 72 months.. "Big Brand Mercedes" coming after 20 bucks per month because of their mistake which the customer has nothing to do with.
I am writing through every single channel about this experience as well as the corporate office and BBB. Also contacted with the FTC as well. Whatever my legal rights I will be going through till to the end. I really didn't want to believe this but its real. I feel sad about those sales guys who really helped me a lot during my buying process but this very poor experience shaded all their work.
Mercedes-Benz of Escondido Reviews
NEW BUYERS BEWARE! I purchased a vehicle last Saturday (January 26th 2019) from Mercedes Benz Escondido with an 1.99 APR rate. I traded in my old vehicle, and finances a new vehicle. Yesterday (after a week - Feb 1st 2019) dealer called me and mentioned that they are sorry that they made a mistake and Mercedes Finance approves the loan not with an APR 1.99 but 2.99 instead. So he told me that I need stop by the dealer to sign the new contract.
I said "we have a contract and this should not be my problem at all. I dropped my vehicle to you guys and got MY new car and drove it home. After a week you are calling and telling me that APR rate has been increased to 2.99 which is unacceptable". And the sales man said I can return the vehicle back if I don't want to sign the new contract. I told them I don't want to do anything before I get a legal advice because I will definitely fight to the end if I am right.
Based on the law in California, my lawyer told me that for them to be able to change the rate, the contract should clearly indicate that "This contract is NOT Final" which does not say anywhere on my contract so it is binding them. That 1 percent APR increase makes 20 bucks per month and total of around $1500 in 72 months.. "Big Brand Mercedes" coming after 20 bucks per month because of their mistake which the customer has nothing to do with.
I am writing through every single channel about this experience as well as the corporate office and BBB. Also contacted with the FTC as well. Whatever my legal rights I will be going through till to the end. I really didn't want to believe this but its real. I feel sad about those sales guys who really helped me a lot during my buying process but this very poor experience shaded all their work.