Am I being ripped off financing this vehicle?

Question

I am financing a vehicle that has a price of 6,000. I am putting down 3000 on the car. I decided on an 18 month financing term pkg which will cost me approx 298.00 per month ( I am basically financing clsoe to 5500 dollars). Now, if I do the calculation that would mean that I will wind up putting close to 8500 dollars at the end of the 18 months which is crazy. Right?

I factored in tax, DMV and license plate fees as well as finance charges, but $2500 is kind of rediculous. I walked out the dealership, but now Im wondering should I go back to read the fine print and see exactly why it is so high or was I getting ripped off and should I stay away.

Answer 1

Stay away,from there financing company. Your better off finding your own,,, A credit union is a better way to go,,

Answer 2

that sounds kind of high no matter how you look at it,it would have been good if you had a copy of the papers to look over,that might explain why it was so high,you may be better off letting this one go if no papers was signed on the deal,as long as you cant be held to the deal and you don't feel comfortable with it i would back off this one,good luck.

Answer 3

You're putting $3,000 down and then financing almost the entire purchase price? That's beyond ripped off! Go elsewhere to secure the balance of the price.