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January 31 No Comments latest by
See Part 1 and Part 2 of the car debacle.
Here’s another email from the iwillteachyoutoberich reader, a friend of “John.”
“My decisions concerning this ordeal revolves around one fact, that the car dealership made it clear when explaining the contract that John had 24 hours to return it with no penalties and 3 days (business ones) to bring it back with limited penalties….In fact John was so sure of this that when he was taking to me on the phone during the time of sale his rebuttal to my “Dear God do not buy that thing tonight” was “I can take it back if I don’t like it”. I wouldn’t try and nail the dealership for trying to squeeze the financial blood out of my turnip of a friend, but for the fact that they lied to his face.
For whatever reason, John is willing to live with this and deal further with these car salesmen. He will most likely trade it in for a cheaper car and refinance with a co signer. I on the other hand would freak out that they lied to me and do exactly what one comment said. Fax a statement to the dealership with my intentions drive the car to the lot, leave it and mail them the keys certified mail. I wouldn’t pay a dime, and in the mean time I am sure there must be some legal recourse against lying, I would seek that out. My credit might die but I am 20 with little credit history anyway.
Biggest thing, will not negotiate or do business with people to have deceived me. Could be an ego thing, not sure. I actually think I may have learned more out of this ordeal than John did.”
At this point, I started feeling sorry for John, so I decided to try to help him. I’ll post what I did in a few minutes.
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I'm a recent graduate of Stanford, where I studied technology and psychology. Now I'm the co-founder & VP of Marketing for PBwiki, a wiki startup in Silicon Valley.
I speak at companies and schools on personal finance and entrepreneurship.
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