[priyoban]

Hi,

Heres whats going on.

I booked my car from Nikhil Automobiles in Navi Mumbai and got my loan passed from HDFC bank.

The loan amount that I borrowed was 298000. However the disbursed amount was 285500 the reason being the stamp duty and the 1st emi is cut when the amount is disbursed. (This is what the showroom guy tells me).

Which means that I am borrowing the loan including the 1st emi and the stampduty


However in the down payment, the stamp duty and 1st emi is also being charged from me. So am I not paying it twice (Stamp duty + 1st emi)?

I dont understand why I have to pay the stamp duty and the 1st emi to the showroom when the bank has already deducted that from the loan that I have borrowed.

Please explain this to me, I'm at my wit's end.

[priyoban]

^^ Ok I just thought about it and I think I've figured out why but another little thing has come up.

When I had booked the car (had given 25k as booking amount) the down payment asked for was 88k. Then after a discount I was supposed to get(my colleague knows the showroom owner) the sales agent sent me an sms saying my balance amount pending was 47k. (So total 72k) So I thought well an good i'm getting a 16k discount. This was a week back.

Today I signed the RTO paper and walked out of the showroom, and an hour later I get a call from the sales guy that when he went to his accounts department he realised that he had made a calculation mistake and that 22k was still pending from me.

That brings the total dp to 94k.

He came over to my place and tried to explain to me that when im taking posession of the car I have to pay the current price of the vehicle and not the price when I booked it.

So I tell him that if he did not give me the discount that is well and good but I am not going to pay anything extra and that I was willing to pay him 88k and nothing more. If that is not acceptable to him he can go ahead and cancel the entire deal.

Now tomorrow morning I'll be going to the showroom to see the outcome. What do you guys think?

[Indian1979]

Originally Posted by priyoban

Hi,

Heres whats going on.

I booked my car from Nikhil Automobiles in Navi Mumbai and got my loan passed from HDFC bank.

The loan amount that I borrowed was 298000. However the disbursed amount was 285500 the reason being the stamp duty and the 1st emi is cut when the amount is disbursed. (This is what the showroom guy tells me).

Which means that I am borrowing the loan including the 1st emi and the stampduty


However in the down payment, the stamp duty and 1st emi is also being charged from me. So am I not paying it twice (Stamp duty + 1st emi)?

I dont understand why I have to pay the stamp duty and the 1st emi to the showroom when the bank has already deducted that from the loan that I have borrowed.

Please explain this to me, I'm at my wit's end.

You are being taken for a ride. The dealer is overcharging you. Get another quote from another dealer.

[priyoban]

any opinions on my second predicament?

[BaCkSeAtDrIVeR]

Dude, what stamp duty? You buying land / flat?

12.5 K is for what? EMI would be around 7K, right? So 5.5K stamp duty? OMG!!!!

Maximum stamp duty would be 150Rs. Else ask them to show you the stamp paper / contract.

You are being taken for a right royal ride.

[travelwriter]

Another point. When you have paid a booking amount after bargaining for discounts and other freebies, the dealer has to offer them to you even if the price changes upwards when taking delivery. I bought my car in December last. I had booked it in November (paying 1000/- token money) to get the 6000/- discount Maruti was offering.

When I went to pay the balance in December, the govt had slashed 4% excise duty, which Maruti passed on to the customers. But Maruti had reduced thee company discount from 6000 to 4000.

But at the end, the dealer gave me 6000/- AND the excise duty benefit.

YOu have the option of cancelling delivery and demanding your money back. The bank can also hold the loan disbursement back if you instruct them. You have complete control on it, not the dealer.

[priyoban]

But the dealer is saying that i'll have to pay 10k cancellation charges, also that it's the rule that the price of the car applicable is the price at the time of billing and not the time of booking, and that I have signed such a document although i dont recall anything as such.

The loan amount is disbursed and I have a document saying that my remaining down payment is payed. But since they had made a calculation mistake, I considered the case and told them i'd pay the remaining 16k was originally asked from me, but they are demanding 22k.

Does that doc hold value and can I just claim that I have cleared all payments and they are still not giving me the vehicle, and tell the police or something mayb?

[BaCkSeAtDrIVeR]

1. When was the car booked?
2. What car is it?
3. Are you sure that the prices have increased?
4. Walk into the HDFC bank branch, and talk things over with the manager / whoever is in charge there.

Edit:- going to the police will not take you anywhere. And the dealer will easily buy them off. The magic words for the bank people are "banking ombudsman" and "consumer court" for both - bank as well as the dealer.

[priyoban]

1.The car was booked last month.
2.It's a chevrolet spark.
3.That is what the dealer claims.
4.But the bank is not creating the problem here, it is the dealership. They claim that the quoted rates at the time of booking hold no value whatsoever.

[BaCkSeAtDrIVeR]

Originally Posted by priyoban

4.But the bank is not creating the problem here, it is the dealership. They claim that the quoted rates at the time of booking hold no value whatsoever.

Which is true.

So, the question now is did the prices really go up? And by how much?

[subscrive]

Theres nothing like cancellation charges.
Little known law says that if you dont accept or use the thing u book, there will not be any charges.
Tell the showroom guy that you will take him to court for fraud practise, and also start inquiry about all previous cancellations and that it will be a big headache for him.

[BenjiRoss]

The Chevrolet website may have a link or address to directly contact them for a clarification.
The dealer has a price list that is available for each month with changes. Ask for the lists of both months.
Also he should have given you a price quote with which you got your loan - can you check the terms written on this paper.
When you paid the booking amount you get a receipt - does that mention any cancellation charges?

[Ravveendrra]

This dealer sounds like a cheapo crook. Dump him - imagine going to him for service of your vehicle - he will try to rip you off every time you go to him. Go to another dealer.

From now on ask for all correspondence in writing (tell him you do not understand what he is saying and that you need to talk to your father/brother who needs to read the papers). Send copies of the whole lot of papers to GM India and the bank. The papers will help you in case you need to go to the consumer court to get a refund of your money.

Wish you all the best,

Cheers,

[priyoban]

Originally Posted by BenjiRoss

The Chevrolet website may have a link or address to directly contact them for a clarification.
The dealer has a price list that is available for each month with changes. Ask for the lists of both months.
Also he should have given you a price quote with which you got your loan - can you check the terms written on this paper.
When you paid the booking amount you get a receipt - does that mention any cancellation charges?

Nope, the receipt dosent say anything about cancellation charges, although it was mentioned on their price list. Also now I'm very apprehensive about buying the car from the showroom now, if it's like this now, what will it be like after the sale?

So I really just want to get away from this dealership now, can I do this safely without risking losing out 10k?

[priyoban]

Originally Posted by Ravveendrra

This dealer sounds like a cheapo crook. Dump him - imagine going to him for service of your vehicle - he will try to rip you off every time you go to him. Go to another dealer.

From now on ask for all correspondence in writing (tell him you do not understand what he is saying and that you need to talk to your father/brother who needs to read the papers). Send copies of the whole lot of papers to GM India and the bank. The papers will help you in case you need to go to the consumer court to get a refund of your money.

Wish you all the best,

Cheers,

You are absolutely right, but since the vehicle is not registered in my name yet, do you think that I can come out of this without losing any money?