In Mid February I spoke with a salesman, Chuck Beauregard, via telephone on a used F550 that was advertised on their website. The vehicle had a few minor issues, and Chuck said the few issues would be repaired when purchased. I sent a buddy of mine to inspect the truck, as I was in California at the time, and he agreed the issues were minor that the truck was in very good shape.
I checked the finance interest rates offered on this vehicle - on their website - and the interest rate advertised was 7.5%. I verified this with Chuck who told me the interest rate was between 6.5% and 7.5%.
When I decided to purchase the vehicle, Chuck asked me for a $1,000 deposit so that he could hold the vehicle. I agreed and said I didn't want the financing done at the last minute. We agreed on the purchase price of $27,830, with $10,000 down on the vehicle, financing $17,830 at an approximate interest rate of 6.5% to 7.5%. Chuck agreed and processed the deposit. I then asked that the vehicle financing be initiated and asked that the vehicle could be kept at their location until I arrived in Maine. Chuck agreed.
Early March Chuck telephoned to inform me that all the repairs had been done to the vehicle. Made no mention of the financing.
Late March I hadn't heard from Chuck regarding financing so I called him. Chuck informed me that he had not done anything yet and that he needed a credit application filled out and returned to him. He email the application, I filled it out and returned it to him the same day.
As I traveled across the country, early April Chuck called to inform me that the financing was complete although he did not know the interest rate. It was financed for 48 months, through Ford Motor Credit, and the payment was approximately $495.00. It seemed high to me because we were only financing $17,000 (with $10,000 down on the vehicle). I asked Chuck what the interest rate was and he did not know.
I told Chuck to get it financed for 60 months as the payment was too high. He called later and stated $385.00 per month for 60 months. I again expressed my concern as to why the payment was so high and again asked what the interest rate was. Chuck replied 11.5%. I told Chuck that this was unacceptable and questioned the interest rate being advertised on their website. I told Chuck I would not purchase the truck at a 11.5% interest rate and to refund my $1,000 deposit. I then reminded him that I did not want to wait on the purchasing of this truck at the last minute and asked why we were doing this? Chuck then referred me to the finance manager.
Aram Mooradian, finance manager at Stoneham Ford, called me and I told him I needed the payment of the vehicle to be at $350 per month, which would have been the original interest rate of 6.5% to 7.5%. Aram said he'd try to work the points and call me back. When he called back he told me the interest rate would be 10.5% - then recommended I didn't accept it. He told me that the interest rate was high due to all of the repossessions as of late. I told Aram to refund the $1,000 deposit on the vehicle and I would not purchase at 10.5% interest.
Since then, I have called Stoneham Ford at least 20 times and have received the run around. Nobody was available to talk, to leave a message and someone would call back. They never did. Finally, on April 14 I spoke with John Melkonian, who told me the sales manager would call me back in 5 minutes. That never happed. I kept calling them all evening and was left on hold for more than an hour. Finally, the receptionist told me she would get a message to the owner who would call me the next day.
This morning, April 15, Bill Pollack, the commercial truck manager, NOT THE OWNER, called me to discuss the transaction. I short, I informed him of all that has taken place - and he replied that he has heard differently from his employees and that it was too bad as I was not going to receive my $1,000 deposit back - because I tied the truck up for a month and a half.
I TIED THE TRUCK UP? What employee at Stoneham Ford has even done their job in this whole transaction? Chuck, salesperson, failed to initiate financing until a month and a half later; Aram, finance manager, failed to provide financing that is advertised on their website; Bill Pollack, commercial truck sales, without my signature on anything - tells me they are not going to refund my deposit!
BUYER BEWARE! These thieves will not hesitate to rip you off!
Headed now to the Credit Card Company, Better Business Bureau, and Small Claims Court.
Bill
Naples, Maine
U.S.A.
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