Well, unfortunately I feel that this is my fault as much as much as it is theirs. I was a first time car buyer, from a dealership anyway, and I started out by getting a very nice deal and a great truck, $18,600 - 04' Dodge Ram 1500. Not a bad deal, but when I got to the closer he started taking about all these add ons and warranties and other crap that I could add on for a minimal amount. He mentioned that all this stuff was only going to increase my loan payments by $50. This was going to put my payments at about $375, which wasn't bad for what I thought I was getting. Because of all this I was never shown the final price for the vehicle and i figured it was only a couple thousand more, $23,000, like he mentioned.
Well, it just so happens that I started getting bank notices of from numerous banks that were denying my loan and then I saw way. The loan amount ended up being $29,695 way more that 110% of the vehicles worth, I know holy Sh*t!!! I could have bought a brand new 07-08 truck for that. On top of all this I got a call from Showcase saying that they were unable to push my loan through b/c there was fraud on my credit report. I was informed that I needed to go down to the social sec. Office and get a letter to verify who I was.
Considering the factors and how pissed I was I went down to showcase and was wanting to cancel everything that was added on or return the truck. I spoke to the same finance officer who told me that nothing could be canceled and he pushed the loan trough to Suntrust bank that morning. I couldn't believe what I heard. He forced a loan through on a fraudulent account to a bank for a loan amount waaaay more than 110% of the vehicles worth. No bank does this and I couldn't believe Suntrust did...
I went home very pissed and read through all the contracts front to back and found out all but three things that were added on were able to be canceled within 30 days. I went back down and spoke to their finance manager who helped me cancel everything but could care less that I had been lied to and taken advantage of...
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