I purchased a 2003 Dodge Stratus through Denny's Auto Sales in Aug with a down payment of 1200.00. I was told my monthly payment would be low and because i was set up on a first time buyer's program my interest rate would be a little bit high (25.42%) but it would help me improve my credit.
In Aug I decided it was time for an upgrade and I wanted to treat myself to a better car esp since I had been making my payments on time, I figured my credit should be great. Well I was wrong!!! Turns out mY lame finance company does not even report to my credit. All the car companies turned me away stating the same thing. "It shows that you have been making your payments on time and you're far from ever being behind, " one dealer would say while another stated, " If only your finance company would report to your credit we could find a bank that would finance your new car."
I was furious so I started calling Flamingo to get some answers and naturally got the run-around. No one had an answer for me except that I "was a valued customer and we would really like to help you, could you hold please?" Only to transfer me to anothr agent who knew less than the first guy I talked to.
What's worse, when I got hurt and was out of work, I defaulted against one week of payment. ONE WEEK!!! I sure got alot of calls then, and harassing ones. Plus they called everyone on my references and told them that if they did not payment penalties would be brought against them. All for one week, a measly $53.00.inSANE!!! No correct me if I'm wrong but aren't your references there to verify that you are a person of good moral character? Not people you harass to make payments for those people who they merely gave a good reference on.
Well it's Oct and I'm still driving my Dodge. Yet I still don't have the answers as to why this finance company has been able to get away with such a scandal. Sometimes it just seems better to turn that darn car in and start all over but with the right people. It wouldn't hurt my credit anyhow, they don't report remember!!!
So fair warning if your in the business of buying a car and you just happen to hear that the dealership wants to finance you through, Take your down payment and go running out the doors... Don't let the same mess happen to you!
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