On October 2 in a search for a second car for my finace' and myself we went ended up at Team Ford of Marietta after leaving a financing bait & switch scenario at Jim Ellis Mazda (also in marietta). We were merely looking at financing something worth $6,000-$8,000 with a down payment of $2,000 in order to 1) obtain a second car to suit our different schedules 2) to re-establish credit after a bankruptcy.
We were told we would not be able to be financed on a car in that range for the bank's fear of possible break down and then not being payed. They told us per the bank we would need to get a new car with low miles in order to be approved such as an Isuzu Trooper they had for $16,000.. Something of that caliber would definitly be approved. We settled and agreed on a '99'Ford Explorer in excellent condition with 40k for $13,500. Promised financing would not be a problem as they had a few different banks that did secondary loans for people after a bankruptcy.
Signed all the paperwork. Next day they call back and say financing fell through and they want the car back. I gave them a co-signer with a 700 beacon score. They came back with they couldn't use him as even though he has been with his company for 5 years he was new to the particular job he was doing (he is a civil engineer). However, when I was promised financing I only had 2 1/2 months with my company! I am still trying to work on getting the deal done as they claim they are attempting to try other means of getting me financed.
I and others around me think it is a scam to get the car back to sell it for closer to what it is worth as the suv is worth a minimum of $17,000 according to kbb. The company faxed me a list of cars they said they could get me financed for which is the exact list of cars they initially stated they absolutely could not get financing for as the vehicles were too old with too high of mileage. The exact cars I initially came in for. I am still fighting to keep my suv and trying to find if there may be any legal recourse I may have to this. I will update this report as I go or upon resolution.
Dawn
Marietta, Georgia
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