Question regarding Drive out price (OTD)

[HoChaser]

I'm thinking of my 2010 Honda Insight purchase. At that time I believe we agreed on $21k drive out price with me put down $5000 as down payment and finance the rest with the dealer which they set it up with Capital One.

I was looking over the sales contract and the Total Sales Price (The total cost of your purchase on credit including your down payment of $5000) come up to be $24,840.20. (this included the total of payment which the loan plus inters and my down payment) I'm thinking I'm paying more here than the agreed $21k OTD price.

Am I correct to assume that the dealer tricked me into paying more than the $21k using the finance through dealer? At the time the guy explain it all to me and it make sense but now it doesn't look like it. If we agree on $21k and even with financing plus me putting down $5k down payment the Total Sales Price shouldn't be at $24k, isn't it?

I already pay off my car loan so what's done is done. I just want to ask this question to confirm that the dealer didn't actually sell me at $21k so when I purchase the CRZ. I can just use my own credit union which I already secured instead of financing with the dealer.

[TotallyCRZ]

Perhaps there may have been other taxes and fees from 21 000 that brought it up to 24~

Maybe financing fees? Interest Rates?

I think you should look back in your bank books and records to see just how much was taken out of your account. And maybe a lesson for next time, look at the invoice BEFORE you leave the dealer.It screwed my family up to, we agreed on 15,500 for an 08 Hyundai Tiburon, we get home, look at the invoice, and notice a GLOBALi fee of 400 dollars! (one of those invisible etched VIN thingys that you can only see with a UV light etched on all parts)... We got it removed after an hour of arguing and threatening to report the dealer, but that was a huge hassle.

[Ludercrz]

final price includes all interest paid over those 4-5 years. i.e. the total price you will have paid once all payments are done.

[HoChaser]

After looking over it, the dealer did sell me at the agreed price @20663.70 but they added sales tax, dealer's inventory tax, document fee...etc. which amount to $2674.52 then with the interest that I pay on that loan it arrived at @24,840.

Ok, bastard did sold me the car at sort of agreed price but tag on bunch fees and me not checking on it carefully.

OTD price does mean it is the final price on every crap fee that they can think of plus tax, right?

edit: it look like i also bought Olympicare extend warranty. i guess i really gotta to read it more carefully on my CRZ purchase.

[forty2j]

Originally Posted by HoChaser

sales tax, dealer's inventory tax, document fee

OTD price should include all of these things.

Always request a detailed breakdown of the price of the vehicle, showing all of those things listed, and adding up to the number you agreed upon - before signing a single document.

And finance guys have a nice way of talking you into extra crap. I distract them by arguing that the payment isn't correct according to my interest calculator.. by the time we spend half an hour sorting that out, they're eager to get me out the door.