About six months ago I received a pre approved car loan offer from Capital One Auto Finance, the notice stated that I should go to a local dealer (Westcott Mazda) and purchase my vehcile.
The notice provided a dollar amount and terms. I went to the dealer they took the notice said it is valid and proceeded to show me vehicles. I drove off with an SUV. I was then contacted by the dealer and told that the contract would be taken over by Americredit instead of Capital One. They said Americredit had a better interest rate. But I was to tell Americredit that the vehicle I had was more than what it was and that my income was almost 50% greater than information provided to the dealer. When the rep. From Americredit called they asked about the income, I told them that my income was NOT what they showed, if was less, she asked about the vehicle, I told her what it was and what it had. She said that someone would get back to me because the information didn't match. The next thing I know I have loan with them.
Now, I fell behind. I'm 30 days behind but their collectors are calling and asked me why I purchased a vehicle I couldn't pay for. I asked why they accepted a fraudulent loan application she got mad and said they would advance my account into legal status and repo the vehicle. You really should watch out, but the bottom line is that if you are getting an Americredit loan don't fall behind and make sure your payments are certified. Beware!
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