How do you buy a car without getting ripped off? We go undercover to investigate how some dealerships push long-term loans without explaining all the risks.
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I almost feel bad for her for the car thing. I get that people don’t understand that kind of stuff and can be too trusting of the sales people. But you’re that far in debt and decide to have a baby? And you know you can’t work those hours for long because of baby so the cars gonna be repo’d anyway. Wear a condiment or use birth control, jeez. Now that financial burden is on that kid too. For god knows how long to come
The entire automotive industry today is severely corrupt. The pricing strategies, maintenance, accessories, interest rates; all corrupt! Then there's domestic automotive manufactures designing Japanese imports to decide what they'll be competing against. A very disgusting thing that did not exist during the 1980's & prior. Now too there are countless motorists using Ford F150 size vehicles mainly as single & two-seaters. As a result, there's a much higher chance of maiming & killing pedestrians, including other motorists in smaller more reasonable size vehicles; like motorbikes.
What happened to buyer beware.? Whay happened to making an informed decision? What happened to living within your means? Did she really need a "new" car? Can't help but think she is 50% at least, responsible for her situation.
If people can just do clear researching for a week, they wouldn’t run into this problem. People basically knowing nothing about financing cars walk into a dealership thinking the car salesman are interested providing them the best car at best prices.
every wonder why all the people that total the cost and make you sign the contract for the car are all Indians well guess what because all they do is scam except offcoruse there own dirty hindus nasty evil creatures.
I used to work for a premium brand car dealership and left after three years, oh boy this industry is full of crooks!!! watch for unnecessary throws ins, instead stick to the discount on the car first and then move on to the extras.
So Canadian. People in suits supposed to protect consumers, but sitting in an office with pamphlets and not doing anything until cbc marketplace actually investigates. It's the Canadian establishment, govt doesnt care if your treated fairly...they really just want you paying taxes, and giving businesses your money. The suit stated his interest clearly: just to inform consumer, which means buyer beware. Your on your own folks.
So is there no such thing as manufacturer warranty on a vehicle purchased in Canada. She only owned the car for 3 months and it started breaking down you couldn't afford to fix it so you traded it off for another car. all the issues with that cars should have been covered under a manufacturer's warranty and she should have never had to traded it off for a different vehicle.
I don't understand. Hyundai's come with 5 year 60k mile bumper to bumper and 10 year 100k powertrain warranty. Why didn't she just take it back to get fixed at the dealership? I've had 6 Hyundai's and they are great cars!!
Omitting details is the most simple and effective way of deception. Always do your due diligence, I personally wouldn't recommend getting any finance for a car. Pay cash and only buy the car you can afford. Cars are a liability not an investment.
Buyers be aware when buying anything in America or Canada. This girl should have done her home work or taken somebody with her to do the deal. Why she did not repair the car Under 10 years of Kia/Hyndai Warranty? Every New Car comes with 3 to 4 years of Bumper to Bumper warranty. No excuse for not knowing the basics of Car Buying. You are dealing with Vultures or Incompetent people who's job is to make a sale by deceiving the buyers!
If the car brought down 3 months then it was all under warranty... we got lied to somewhere. Unless she bought a used new car. Even then they give 12k 1 year warranty and the power trains usually good for 7 year 100k miles so she lied somewhere.
I think this should be taught in high schools. The situation is similar or worse in the US. There also needs to be more regulations in place how car dealerships can and cannot act. Also, this negative equity information should be mandatory. But if it is mandatory, they will hide it with other information. My heart really feels sad for people like Chantelle - I want to give her a hug - I wish there were lawyers fighting cases for people like her.
When I bought my first car from a dealership, I let them give me their whole schpiel about payment plans and at the end of it I was like "Debit!" because I saved up like crazy and I hated the idea of owing people. Their faces, their faces. Felt so good.
Its all ab out the Up Sell !!
Greed and nothing less....consider the re-sell and your still owing more than the car is worth.
Hyundai, biggest POS ever to enter Canada.
Korea does not allow North American cars into Korea...how is that fair trade??
First of all, I only buy used. I went car browsing this past weekend to look at a used car I saw online. They kept trying to sway me towards a new model of that same car. I went back and forth with them telling them I came to look at one car and one car only and it was the used one. They tried showing me the difference in monthly payments between the new and used. I told the salesmen I'm not interested in the monthly payment. I already know the range based on the price I'm looking at, I want to know the OUT THE DOOR PRICE. He refused to tell me the out the door price and kept trying to sway me to buy a car I didn't even go to look it. I eventually left b/c they wouldn't give me the the out the door price and I won't be returning.
What I want to know is what happened to the contract. Did the file a lawsuit? Did the girl get anything since they hid information in their contract? How are you going to end an episode and not say anything. -_-
Then WHY does the Canadian government let legitimate companies get away with scamming the general public? Answer... because politicians only care about votes to get them into their comfortable cushion jobs. All talk and NO action. You are and always be on your own... BUYER BEWARE !
Honestly, I think she bought a lemon. I have had a Hyundai Elantra (2016) for almost three years and I have had no problems. So far, I have only had to change the oil regularly, and the battery at 45,000/50,000 miles, and a couple of air filters. And you CAN legally bring the car back within a couple of days (at least in the U.S. ) but not three months.
I'm pretty sure mines only 4 years, and I looked at the price of the car and then calculated the payment with the interest rate I was given, and realized I can afford it, but once it's paid off I'll be looking for a brand new car.
The lack of financial knowledge will usually be the doom of many people. I recommend reading the book "Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter." It tells an amazing story of Robert Kiyosaki and how his Rich Dad drove the importance of financial knowledge into his head. The book is extremely powerful, I highly recommend and encourage people to read/ listen to it
If the Canadian Parliament wasn't so busy writing senseless compelled speech laws to protect 'feelings' they might have time to write truth in lending and fair practice laws that would protect it's citizen consumers from the misery of becoming a debt slaves to unscrupulous loan sharks. Why are dealerships and banks allowed to prey on young naive people with impunity this way?
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