Correct me if I'm wrong, but I think a buddy of mine just got scammed.
So, he has a fusion that he owed roughly $7400 on.
He bought a truck for $43,500 with Tax and ever other fee included.
They told him they would give him $7400 for the trade in, therefore paying off the existing debt on the fusion.
After everything is said and done, the paper that he signed says the principle amount of money owed on the new loan is $50,900, and the dealer now has the ownership of the fusion.
I looked at the loan contract and it looks like they added the loan on the fusion onto the new loan. So, am I out to lunch? When something is "trade-in" doesn't the dealership use their own money to pay for it, not add the money onto the new loan? Seems to me that the dealership just got my buddies Fusion for free.