In January we needed to buy a vehicle with a bad credit history. We saw the adds for MedVed on TV and went looking there. The ads showed great cars (american made) with very low down ($250) payments (based on what was currently available on the lot). When we got there, we looked around for about an hour. We checked some cars and everytime it came back "we did not qualify for that car". We finally asked what we did qualify for with a $1,000 down. We were shown 2 cars - a somewhat beat-up Celica and a Hyundai Elantra 4 door. We settled on the Hyundai. BAD MISTAKE!!!
The financing was arranged through Consumer Acceptance Corp on a CREDIT REPAIR PROGRAM. We were told by MedVed that we had to have a warranty on our car and was sold a WYNN'S contract. MedVed also had a 90-day warranty on it. We were also told that the Wynn's contract was basically bumper-to-bumper. When asked to clarify, my wife and I were told that it covered most anything that would break down.
It is now August.in the 8 months we have owned this vehicle it has been in the shop for a cummaltive 5 months! It has had the following work done to it:
* 4 transmissions
* 1 water pump
* 1 AC Tensioner Pully and assembly (covered in our contract - Wynn's refused to cover it)
* Radiator
* Electrical problems (currently in the shop)
* Drivers door does not lock
* Passenger door could not open from inside
All-in-all, my wife and I are paying between $700 and $800 a month between uncovered warranty expenses, rental cars and a $280 car payment. IT IS RUINING OUR CREDIT!!!
Keith
Thornton, Colorado
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