I bought a camry 2005 at Huntington beach , toyota and the invoice shows the APR , the Amount financed, the interest amount to be paid and finally the total cost at the end of the 60 month term, and well, it doesn't match up. I made the calculation with a finance calculator and excel and it's wrong!
4.70% @ 60 months for 23300 gives me a total of $436.50 per month. That means 2890.27 of interest, and the invoice says 4.70% @ 60 months for 23300 equals 437.35 per month, that is 2941 interest paid at the end of the term. It's just 50.73 dollards difference. But if they do that with all people they get hundreds of thousands of dollars. I bought a different car before at the same dealer and the invoice matches perfectly to the APR ,etc. And it reads right above there "FEDERAL LENDING-THRU ....". What should I do, I don't care much about the $50 but if they do this with all the people they are doing a illegal thing here. Is there an agency I can go to and check it out ? . PEOPLE please check your invoice with a financial calculator to make sure it's right!!!!!! if not you can get ripped off like me.- posted
19 years ago