Much like the previous report on Lou Grubb Financing department the Names remain the same the next customer arrives with another complaint about unfair, unethical, and plain fraudulent lending.
I started my quest for a 05' Dodge Magnum RT in early spring. I had been waiting for this car for a long time and was eager to purchase one but not at the sticker price. I walked out of at least half a dozen dealerships within the course of a month. This seams to be the only way to get their attention that you are serious and less likely to take any fuzzy math or empty promises.
Well I got it half right I got the car for the price I wanted to pay (Thank you Mike Gardner) but what I didn't count on was the games the finance department had in store for me. They approved me for 8.9% on a 585 FICA which is reasonably good. I tried to wait till financing was final, as I had no problem waiting and didn't want to suffer the last minute we got a problem we need to turn your wallet inside out speech.
My salesman Mike Gardner and the acting finance guy Steve Jakeman insisted please take the car home, don't worry, things look great. The scam was to follow shortly. I didn't hear a word from the finance department for weeks despite repeated phone calls to the first finance guy Steve Jakeman, the new car sales manager Thomas Sherby, and the infamous Lonnie Mr. Eastcoast finance director.
I knew the gig was up after the first week and I held my trade at my house due to no phone call. I was not going to let them hook me into a worse deal by selling my perfectly good trade from underneath me, leaving me no choice but to take what ever they would give me. The phone calls continue no word. Finally I get my salesman Mike on the phone and I ask what the F is going on? He gets them to call me and the haggling begins!
Steve Jakeman
We need another 5000 dollars down, to get this deal done
Me
You mean on top of the other 5000 in my trade?
Steve Jakeman
I see only 3000 in the trade
Me
So my trade is worth less than two weeks ago
Steve Jakeman
That's what's on the paper work
Me
Steve what did we agree on when I left the dealership Tues (Jun 26th)"?
Silence
///
Me
This is exactly the kind of F'n bullsh* I didn't want to deal with
Steve Jakeman
Well it's not our job to provide financing we're just doing the best we can
Me
Yes, at ripping me off. I didn't need to leave your dealership in that car I left my perfectly good corvette in the parking lot for a night because you and Mike insisted I take it home and to not worry about it
Steve Jakeman
daaaaaa
Me
You will have to find a way to make it work Steve; this is not going to be my problem
Oh but It already was my problem, much like the single mother who wanted a fair shake on a new pickup. Another week passes, no calls, no trade at the dealership because it's in my front drive way, and not a single stress free moment in my mind.
After contacting Mike Gardner a fifth time (who has been sick, mother in the hospital, on vacation) I would like to believe him 100% because he did his part and he always came through when I called. Hopefully Mike can understand this as I believe he is sand up guy, but I have concerns and it's just hard to know how deep these scams go.
I get a call from Thomas and go down to the dealership to sign the paperwork. They now say they have a conditional approval from Chrysler. Ok I think cool a Rebate of 1000 is currently being offered. (And my previous truck was with them, one late payment in 4.5yrs) they still need more money 4000 dollars. I think ok I will meet them in the middle it's coming of he principle balance right? And I'm getting an addition 1000 rebate!
Wrong he comes back with a 17.53APR!!! I nearly exploded; I couldn't believe my eyes.
Me
What kind of games are you guys trying to play back there?
Thomas Sherby
What games!
Me
Look, I met you half way on your screw up and then you try and change the APR
Thomas Sherby
Well that's what he conditional approval was for
Me
You're going to sit there and tell me that B credit is fetching a 17.35 these days?
Thomas Sherby
We don't have to provide financing
Me
I know just like you don't have to stand behind your promises
I finally take the key of my key chain and toss it on the table
Me
I think we are done with the bullsh*, take your car and give me back my deposit
Then Mike Gardner comes over and tries getting me to calm down, I'm so upset I had to fight back the urge to go postal on every one of the finance guys. I understand that numbers may have to swapped around to make it work for the individual, but what they were doing was out and out fraudulent.
The part the dealership doesn't know that I received a letter of conditional approval from Chrysler one day prior to our meeting (good thing they dragged their feet) I called a number and no not the one on the letter, the real number the one that reaches Chrysler senior loan purchasers (maybe I should list that as well)
See only the dealerships are supposed to have it. The public isn't supposed to know that the rebate from Chrysler actually comes from the a* end of the loan, that's right your money!!! And to make matters worse for the consumer its violation of fair lending practices. They drive your credit into the ground by putting it through at a higher price, one you may not be able to afford then bottle neck you through Chrysler Financial for profit.
The above and the real APR that was approved by Chrysler Financial (which I will not disclose for legal recourse matters) Is soon to be in the hands of the BBB and the Arizona attorney general, and broad cast via live the internet. Thanks to consumer complaints and many others.
Lonnie remembers you told me you've been off by more than 8 points before. Explain that to Joe Public and the powers that be how that is. Mr. East coast.
Dustin
85032, Arizona
U.S.A.
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