In a nutshell, I went in to purchase a 2010 Yamaha Zuma scooter for $2290. I put $1000. Ended up with balance of $3700 on a credit card that the finance manager applied for on my behalf without even disclosing that to me and he pitched a maintenance package that he made me believe would cost me a few bucks a month but I discovered it actually cost almost $1500 when the sale was done. He disclosed no key terms of the offer and I was pretty pissed when I got home and pulled out the documents to review. I spent less than 10 minutes total in the finance managers office. This was a very underhanded business practice.
— Actual Better Business Bureau Complaint follows is below —
Went in to purchase a 2010 Yamaha Zuma for $2290 on 4/5. Put down $1000, ended up with a credit card I didn't apply for with bal of $3700. I went into Ridenow to purchase a 2010 Yahaha Zuma (49 cc scooter) on April 5th. The cost was $2290 and I would be paying a $1000 downpayment. After filling out an application, the scooter was taken back for preparation as I waited to speak to the finance officer. Prior to that, I was told by the sales guy that it looked like may payments would be approx $55 to $65 a month. When I got into the finance offer's office, he immediately began pitching a service offering for mechanical protection, priority maintenance and theft protection. The way he pitched was simple. If you choose this level of the plan, your payments would be $63... If you choose this level which includes theft, your payments would be approx $73. That's pretty much it. So I'm thinking wow... A few more dollars a month and I get that kind of protection. Let's go with the second one. He then takes the piece of paper he used to pitch the numbers and puts it in a stredder just behind his desk. Within 5 minutes after that, I was asked to sign X, X, X. No key terms (lengh of the loan, percentage rate of the loan, total cost) were discussed. After I provided my signature on an electronic signature pad, the finance manager gathered the paperwork and 2 $500 dollar american express gift cards I brought for the down payment and we left his office out to the cashier. On the way, he handed the paperwork to the sales guy who then put the paperwork in a black lamiment document holder. After the finance manager processed the down payment, I was out the door. I didn't actually see any of the terms or costs until later that night and was immediately upset after reviewing the key terms and cost of the service contract which added $1489 to the cost of the scooter on top of the $255 freight fee, $175 preparation fee and $299 dealer fee. Costs of service contract ($399 60 mth protection, $691 36 mth priority protection, $399 theft protection can't be cancelled). Service contract also required servicing at the ridenow location which I would not do since they attempted to charge me $800 for a botched honda recall job on my Honda Shadow. After $1000, I now have a credit card that I didn't know I had applied for with a $3700 balance that I will be paying compounded interest on for years to come. The following email reply was to the finance manager after I sent a complaint via the ridenow corporate website the day after the purchase:
— Email thread —
I'm actually filing a complaint with BBB first. You pretty much disclosed nothing... Using the this is what you'll pay each month technique as a lure. After putting $1000 down, I now have a $3,700 balance on a credit card... Total is almost as much as I paid for my honda shadow... Just realizing today this is on a credit card which I'll be paying interest on for years. Very shady but I'm not in the least surprised given my past experience with your location since it became ridenow. Very shady and unethical business practices. Most of what I know now would have definitely preventing me from purchasing any service contract or the scooter itself... Here are a few... Theft protection can't be cancelled... Scooter must be service at that location which I would not do... Scooter financed on a credit card... No mention of key terms like interest rate... Cost of additons around $1500.
Date: Tue, 6 Apr 12:55: 55 -0400
Subject: Yamaha Zuma
From: [email protected]
To: mailto: @HOTMAIL.CO
Mr. H,
I just attempted to leave you a voice mail in regards to your concern about the coverages on the Zuma, and your mail box was full.
I am happy to discuss the details and courses of actions with you, please call me at 704-784-5000 at your earliest conviencience.
I look forward to speaking with you,
Chris
Chris Duesing
Finance Manager
RideNow Powersports, Concord
704-784-5000
[email protected]
— end email thread
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