To make a long story short Speedway, Dealership and AmeriCredit beat us. They appeared to be partners in crime. Of course they have said to me, "All they do is finance what the dealer proffer."
As a business that finances for profit it is wise to determine if someone is being ripped off, especially, if one is doing business in good faith. Businesses are aware of cost effectiveness and the value of a car, thats their profession. Therefore, I would challenge them in any giving financing situation to say that they are not in control of how they do business, which is suppose to be in truth in lending and not rip off deception.
This is why they are responsible for the dishonesty of a rip off business decision of clients received from any company:
Im sure Speedway in Lansing, Kansas and AmeriCredit in Arlington, Texas are in the business of making money at any lump some that is exceptionally high, sometimes, even two times over the limit of the blue book amount.
AmeriCredit have systematically created a quick get rich theme that will help people and indebt them by enforcing high finance charges and outlandish rip off late fees on a daily basis using trickery, following up on and providing misleading and fradulent information from the culprits in crime.
Speedway used a slow processing style with us because we were concerned about the interest rate and the monthly payment amount. Before we sign the contract there was a minimun finance charge of 7.5%. We inquired about the completion of the contract from the finance company but we were swish swash between companies as to why the contract had not been received prior to the first payment. We did not receive the completed contract until 6 months later, which indicated an APR of 18.95%, with additional charges we did not agree to. No one from AmeriCredit spoke with us concerning our contract until the payments were late. We were advised of the two types of contract that one can obtain yesterday, 8/1/03: the simple and pre-computed. The car was purchased 12/4, never had a chance to say no to the sale or change our mines before other circumstances occurred.
Anyone who invested in this company to finance a car, have been screwed and ripped off for a major amount of money especially if they have the simple type financing plan. Please include us in this Class Action Lawsuit against AmeriCredit. I need to know something shortly.
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