In April of I purchased my 2006 MINI Cooper S from South Atlanta BMW/MINI on Jonesboro Road in Union City, GA. Synergy Acceptance Corporation was the company who ended up financing the car through South Atlanta BMW/MINI.
I purchased the car for $21,459.93, with a percentage rate of 26% (not the best credit rating at the time), a finance charge of $17,508.87 and I financed the vehicle for 60 months. The total payments would be $38,968.80. The car will be paid off in April.
Scams on this company are ALL over the place. I contacted the Federal Trade Commission, The State Attorney Generals Office and The Department of Consumer Affairs.
After my investigations started in December, a friend of mine contacted on my behalf requesting my Payment History (I personally was requesting this and had not gotten anywhere). She sent the letter dated 1/31 to their attorney on file and we got a response 2/14. My initial complaint made with the BBB started 12/2 and wasn't closed until 4/20 with my Payment History. They showed I financed $21,459.93 and the Payoff Amount was $17,160.31. I am no finance genius, but that is INCORRECT! The BBB tried 3 times to contact them and had NO response. The BBB indicated they had an F rating as a business. And so on!
I have done investigating on this company and it has come to my attention some alarming things. The Georgia office abruptly closed (this was my local office). This I was only made aware of months after this had happened. Cars were repossessed that were not to be and damaged. Yet, the company does not claim responsibility. Amounts on vehicles were incorrect as mine. Phone calls not returned, references being called when they shouldn't be, incorrect payment histories. The list goes on and on.
With the unfortunate economy and like you know, I was laid off on New Year's Eve but made every effort t make my payments on the car, even if they were late.in the four - (4) years that I have had the car in my possession, I have never had the car repossessed, I have maintained it and kept it insured, etc.
Also, in April of I was diagnosed with a brain tumor and since then have battled with the repercussions of that. I am on disability and have gotten employment as of April of this year, but it does not affect my ability to take care of my financial obligations.
I know this is lengthy, but there is a lot. I had pulled my credit two weeks ago to verify my score. Late last year I did file Chapter 7 Bankruptcy, but the car was never included. They were NOT listed on my credit at all. I reaffirmed this again last night at Carmax because I had my car appraised. It appraised at $15,000.00 and Kelly Blue Book had it valued at $15025.00. They tried to get the payoff amount last night and there was no answer. Carmax indicated they have NEVER heard of them!
In the last five-months there has been absolutely communication from them. I stopped making payments because things are very unnerving.
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