Me and my wife had 2 kids in car seats and were about to add another by the end of the year. We went to Adventure Chevrolet to purchase a van. The salesman was great and the price was reasonable. This lot was known for great prices but always stuck you with a trade-in. Well, they got a van in and was not even put on the lot when I looked at it. It wasn't detailed and didn't even have a sticker on it. I asked for the price of the vehicle and they told me the amount. He then asked me what I was trading as he was writing up the deal I told him there was none. He gave to his financial department where things got hairy.
He first attempted to give me a 20% interest rate.By the way, these financial guru's make money on the back-end if they sell you a higher rate! I didn't accept it and told them good bye. After 2 days they said that they had a lower rate for me (I don't have perfect credit, but it is not because I am stupid!). I accepted a 10% rate.
I signed the papers for $1,700 down toward the loan amount and it put my payments at $350/mo. Well, 6 weeks later I have already payed a payment on my Van and the car lot called me to collect on $700 more dollars that was not collected at time of purchase! I called my finance company and they said my dealings are with the loan now, not with the car lot. The lot even threatened to come and get the Van (which would be theft since the finance company has already paid for the vehicle).
Well, 1 year later it is with a collection agency threatening to go on my credit report! The one stupid thing I did do is pay with money order and cannot find the receipt! But here is the twist...
A couple years ago I worked for a collection agency in Dalton. I was the legal assistant who filed the law suits. Guess who we use to collect for on a daily basis? Adventure Chevrolet! We had people who always claimed they did not owe them anything and we could not prove it as a collector, so we did not follow through with them! It all came together! What this company was doing was making money on the back end by saying these customers were not paying their down payment and were preying on the passive to pay more!
This company should not be in business! All they have to do is say "they didn't pay" and make us prove it. And if we can't, we are screwed!
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