Southeast Toyota Finance - High APR and heavy penalties if I payoff early
I don't know if my beef is as much with Southeast Toyota or Toyota of Melbourne. I purchased a brand new 2013 Toyota Corolla.
The finance person at the dealership pulled my credit score (809) and told me he can get me financed for 4.98%. I thought that was very high, given the current value of the US dollar. I asked about paying the car off with the first month or two - he tells me that there are severe penalties if I pay it off within 6-months. What a racket!
To top it all off, the final agreed upon price that the salesman wrote on the scratch paper was not the final price I received (it was $500 higher). Somehow the finance guy missed that (and yes, my mistake as well for not checking the guys math).
I like Toyota, but based on this experience, my next car might be a Nissan. Regardless of what I do, I will never buy from of Toyota of Melbourne again, and I will never have another vehicle financed through Southeast Toyota Finance.
Monetary Loss: $1000.
Location: Edgewater, Florida
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Dear PBertrand35,
I am sorry to hear about your experience. Please feel free to call me at your convenience, and I would be happy to answer any questions or concerns that you may have.
Thank you,
M. Davis
Southeast Toyota Finance
314-702-4206