Through high powered sales tactics and a promise of a better credit score, I purchased a new 06 G6 Pontiac from Auburn Pontiac in December. When I went to take my car in I was told by the dealer that my salesman had left. It appears he could no longer strong arm clients into purchansing over priced cars he had a conscious. So I became suspecious and began asking around about the dealership and AmeriCredit.
I have learned that this is a sub prime company, dealers participate in interest rate make ups on low end cars and are given kickbacks from the lender (AmeriCredit) to steer unsuspecting clients like myself into high end loans.
I called the company in July and I was told by a customer service rep. Who refused to give her name that the company could not and would not refinance my car under no circumstances that I had to find another lender. I said where in the contract is this I have the contract in front of me tell me what page and she replied its not in the contract directly but on the back of the informational page.
This is very misleading I said, who reads the back of contracts. She quickly changed the subject and said is there anything else I can help you with? My reply was no. So I hung up diappointed.
Then I called a few people everyone had nothing positive to say about AmeriCredit. This company has a tendency to lean toward poor struggling people with bad or poor credit and minorities. I have poor credit with a good job and references however I could not get financed through a bank so after two weeks of hard sell my the dealer I decided to go in.
My first car was a used 2002 Pontiac Grand Prix however my insurance company refused to insure the after market add on equipment saying the car was over valued so I returned got my Saturn back and before leaving I was told by my salesman that he could get me into a new car. So after 6 long hours I got my new car. I told the dealer it was the worst contract I ever saw actually I said the contract from HELL!
I worked in a bank for 6 years and know when I see a bad contract this was one. I made the financial manager mad as hell he said I'll give you the down payment and your car back. Little did I know this was a marketing strategy to get me to buy. So I did. I pay on time, I have to sacrifice after all, i did sign on the dotted line! However what makes me made is the payment. I pay $376.76 every month however, only $140.42 goes towards the principal the rest$235.58 goes toward the interest. ARE THESE PEOPLE CRAZY!
I am smart so I pay ahead well, they give me one month free. That's fine but when I look at the statment more interest! That's not fair! Clearly, no matter what you do you can't get ahead period!!! I am on the Family Plan, I used the $3,000 GM Family Discount the dealer reused a down payment and my car!
I purchased a Stripped Down Version of a Pontiac G6 for about $19,000 I must have been crazy or on something! I blame the dealership and AmeriCredit for unscruplous dealings especially Americredit there a bunch of LOAN SHARKS!!!
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