My most recent visit to Prima Mazda in woodbridge

[anth_g]

In 2006 i got my mazda 3 sedan gs under the agreement it was a lease. I puchased the car through the manager and what he explained to me and my old man at the time was pay the monthly payments for 5 years, at the end of 5 years bring us the keys and get a new car!

So monday i went in with my contract and i was told that according to the agreement i have to pay 360 a month for 5 years(which i did) but what the failed to explain was that theres a "ballon" of 11812 remaining to be paid over the next 3 years.

To make a long story short, apparently im financing the car(which if i had known this from day 1 i wouldnt have agreed to it) i have to pay 11812 over the next 3 years which brings the total of my car to 33412 for a car thats not worth it, and after 8 yeArs i wont get a cent for.

Solution selling the car for 13500 paying off the remaining cost and never dealing with mazda again!

[mazdabetty]

WOW. Yeah sounds like an amortized finance plan... yikes, do you have all the paperwork still? I'd get in touch with OMVIC (http://www.omvic.on.ca/) asap to see if you have any rights in this situation...

[anth_g]

Also i forgot to mention, if your on a lease, check your agreement/contract. On the lefthand side of the page where it has 60 months or 48 months, if under that it says ballon(which is, what we thought was the buy back) of watever amount of dollars, that means ur in the same situation as me

[PearlM3]

Really it all comes down to being educated and into reading ALL the paperwork when you buy a vehicle. You would have needed to go through a finance application to buy the car, you would have HAD to sign papers from the bank that you financed it through, you would have had to send BANK info to your insurance company. When they were doing all this banking it should have thrown up a few red flags.

[Jeff-TheBiz]

Also i forgot to mention, if your on a lease, check your agreement/contract. On the lefthand side of the page where it has 60 months or 48 months, if under that it says ballon(which is, what we thought was the buy back) of watever amount of dollars, that means ur in the same situation as me

Not really the case..

Someone isn't being very clear with you.

[anth_g]

Really it all comes down to being educated and into reading ALL the paperwork when you buy a vehicle. You would have needed to go through a finance application to buy the car, you would have HAD to sign papers from the bank that you financed it through, you would have had to send BANK info to your insurance company. When they were doing all this banking it should have thrown up a few red flags.

Yes your right, my old man thought; dealing with the manger, he could take his word for it. A few months ago when we were reviewing the paper work for the car and saw the bank statement, with an end date of 2013 we thought there was a mistake. We called and they told us the buy back of 11812.

so we went in recently to mazda and all this WONDERFUL stuff happened!:flaming

[antifuse]

Yup... ALWAYS read your paperwork, and make sure you understand it, when buying/leasing a car. And unless you have what the manager says IN WRITING, never take it for granted that what they are telling you is true. A lot of dealerships will say whatever it takes to get you into the car, even if it's not necessarily the truth.

And it's nothing to do with Mazda. EVERY brand is going to have shady salesmen working for them. Just make sure to research your dealership a bit more thoroughly next time - if you're not completely soured on Mazda, you should consider going with Mazda of Toronto (Jeff-the-biz on the boards) or QEW Mazda, both have stellar reputations.