If you are purchasing a truck be aware of financing

If you are buying a truck be aware of financing. There are types of loans and the salesman will not mention anything about it. I purchased this used truck and I received with no explanation or consultation an amortization loan which every payment goes directly to pay interest FIRST rather than capital plus interest. It will start paying capital later, but that is not fair deal. What you are looking for is a FIXED loan in which capital and interest are paid simultaneously. In my opinion amortization type loan is a SCAM.

I have been with the truck for almost two months and I am surprised how dealers will not do any type of maintenance on the truck before selling while they try to cover their back with a "sold as is" form. I am taking pictures and recording maintenance to get creative later on by writing a comprehensive facebook/google review or asking a lawyer.

Also, keep in mind, if you pay 3600$ for a brake job they will intentionally over tight the brakes so you come back sooner and they may remove the transmission temperature gauge to hide something or wait until someone blows the transmission by over heating it. They will even charge you to make extra keys before driving the truck out the first time.

I have included two images from a financing company. there you can see how the monthly payment pictured as #3 applies to #2 (interest) until sometime in the future starts paying #1.(capital). Take a look at December and then November while comparing. interest rate is around 15 percent.

Don't let this happen to you because as an used truck you definitely don't know what major repairs you have ahead and when you run your numbers you will realize that you still OWE the same amount written at the dealership buyers order. You are left with junk. So...protect yourself. get a FIXED LOAN rather than an amortization loan and give as LITTLE as possible for down payment.

 

I can't disclose the full name for liability purposes, but I can tell you that they are located in the pompano beach area in Florida.

 

Thanks. I will definitely check on paying towards capital. I don't think there is an option other than making a larger monthly payment.
The truck was inspected and it "passed" their dot inspection. APU had probably a year old oil. One steer tire had a funky mark and it was parked towards the ground so no one can see it. No transmission temperature gauge, but they sure left the anti collision radar on and the qualcomm wiring.
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Making that sound of pads touching the drums while driving at parking lot speed...it doesn't sound anymore because the pads wore to the point that they do not touch anymore...I am not saying that the pads are out, but why they need to touch the drums. I called them and they said they had no clue, but why would you trust them...probably would say you need to replace some rings. Money money.

 

Yes the first. Because I am not a certified technician and they may use that to lie while trying to excuse themselves.