I had gotten into an accident that had led to the need for a new car. I was going about doing my homework on the different ways to obtain a car to truly figure out what the best option to take was. Of course, I had read up on the internet for hours and hours and HOURS in advance but wanted to speak to a warm-blooded individual to pick their brain on the specifics on my
options.
On July 6th, I had visited the JD Byrider location in Emmaus. The first thing I noticed was that the cars on the lot didn't have any of their mileage/prices displayed on them. This struck me as odd but considering it was a buy here/pay here lot, I wasn't expecting the most up and up kind of ethics.
Eventually, a man came to greet me on their lot and I could tell that he was dragging his feet a bit and didn't really know how to start off the conversation/sale. I then felt the need to lead the conversation and had said, "Hi, my name's Shannon. I'm in the market for a car, but I'm just looking to do some homework today. A little about me includes that I normally travel only about 8 miles a day, back and forth to work. I'm looking for something reliable as I was driving a 2008 Dodge Caliber before my life became so hectic. Its now totaled out so I dont want a beater car, but Im also not a snob. I was wondering what you had to offer. I see you have a 2005 Chevy Cobalt here which is kind of cute. I was wondering how much it is.
He responds, Well, that really all matters when it comes to everyones financial situation.
I responded, No, I dont mean the monthly payments; I mean the actual purchase price.
He then says, Well, we do a whole financing equation and so on. If youd like to step inside, we do things a little different around here.
Kind of backwards, really. What we do is approve the person first, and then show them cars.
I find this a little vexing but decide to go with it, if it means that Ill have my answers.
I step into the office where the salesman pulls out a binder and makes a tent with it on the desk and starts flipping through the laminated sheets and explains that he has a presentation of JD Byriders mission statement. As hes flipping through the pages, he explains that at JD Byrider, they dont wish to be mistaken for a typical Buy Here, Pay Here lot like the other
guys. He also states that really what they focus on isnt the quality of the car, but instead the opportunity that financing through them brings. I really start to become puzzled thinking, Not the quality of the car??? Well, isnt that what Im buying???
He then flips to another page saying, Youll notice here the five things that are requested to purchase a car. (On the sheet it says, Drivers License, Proof of Insurance, Proof of Residency, Most Recent Pay Stub & Down Payment) I remind him once more that Im just looking to do homework and just ask, Please, Id just like to know how much the car is?
He responds with, Well, thats what the financier at CNAC who exists just on the other side of this wall will answer.
He then asks me for all the information again. I give it to him.inCLUDING MY SOCIAL! He puts it through and tells me that the CNAC financier will go over everything with me.
I respond, Okay, let me put it this way, give me a ballpark figure. For someone who earns $3,000/mo and wants a 2005 Chevy Cobalt, what is the roundabout price.
He comes back with, Well, that all really depends on what you qualify for, and tells me that the CNAC financier will be in to speak with me to determine what it is that I qualify for.
At this point Im starting to get very frustrated. None of my questions are being answered, yet at this point Ive given them my social security number, my place of work, how much I make inside of a month, and other personal, sensitive financial information. I decide to stick it out because Ive already wasted a half an hour at this point.
The salesman tells me that the financier will be with me shortly to determine my eligibility and hands me a paper with 12 blank areas inviting me to give them 12 references. Above the paper in type 10 print it says that these 12 references will be used to check my character and will also be used as solicitation for JD Byrider products for the entire duration of my 36 month loan until the final payment is complete.
This part goes VERY against me. I work in telecommunications and I have several friends and many, many customers that ask me how to get their numbers removed from call lists and to register them on the National Do Not Call Registry. I politely decline to fill out the paper and the salesman replies with, Its okay. There are plenty of people that feel that way. I
feel somewhat better considering that part just made my skin crawl.
The financier then comes in and tells me its very difficult to find out how much I make from what my pay stub is showing and asks that I could print him a deposit history of my account.
At this point I remind him, Again, if I decide to purchase a car, I will furnish you with that information.
Like I was being ignored, the financier then sits down with me and asks a series of questions that go like this,
How much do you spend a month on clothes?
How much do you spend on hobbies?
How much do you spend on groceries?
How much do you spend on rent?
How much do you spend on gas?
Do you smoke? And if so, how much do you spend on cigarettes?
Do you have any rent-to-own furniture, electronics or pets?
There were a ton more questions, but I refused to answer after 3 or 4, stating that I felt as though what he was asking was very invasive and unnecessary.
He started to fill out the paper with figures that he had determined were fair. He suggested that I typically spend $150/mo on clothes? I dont think so I was offended by that. I dont spend that inside of SIX months. But, besides that
He then comes back with a spreadsheet of all the figures HE filled in because I stopped giving him answers after 2-3 questions. At this point, Im getting very frustrated because by this time, theyve had me sign paperwork releasing my SSN, a test drive waiver and all sorts of other things.
Im a very educated person and even I felt led at this point. I started to feel very icky and very, very wrong about this situation. This financier was PREYING on me. Now I felt scared because I felt as though all these questions and so on
these are questions that youd ask someone if you planned on committing IDENTITY THEFT not just to answer a simple question like, How much does this Chevy Cobalt cost?
Finally, they tell me Every one of our sedans has about 100,000 miles and our SUVs about 120,000 miles. What youre seeing here is a typical cost of a car loan a 36 month loan with a payment of $212 every 2 weeks.
Earlier on, while I was waiting for the financier to come to me, I had pulled up the KBB value of the car I was looking at. A 2005 Chevy Cobalt, but because I wasnt given ANY information and had to reveal all of my own, I hadnt put in the mileage (which was over 100,000) and was basing it off of an excellent value, which only 3% of cars match. The KBB value was a
little over $8,000. At this point, with $212 every 2 weeks for 36 months? Thats well over DOUBLE the value of the car and thats if it was in excellent condition and Im guessing it definitely wasnt with 100,000 miles on it!
At this point, he points to the paper that request for 12 references. I see your paper is empty.in order for us to do business with you, you HAVE TO fill this paper out. I responded with, Im sorry, but I do not feel comfortable with that. I have several people day in and day out asking me to make sure theyre not solicited. I do not feel comfortable being part of
the problem.
His tone becomes much more bully-like and he states, Listen, weve sold NINE HUNDRED cars in the past year and I can tell you weve gotten 12 references from every single one of those people. YOU are to be no different.
At this point, I feel BEYOND disrespected. I just wanted to know the answer to one question WHAT is the purchase price? Yet, by the time I left, I felt absolutely harassed!
On top of it, they now have all my sensitive information and the way the financier was acting, I would not trust him with my name, let alone my social security number.
I think the most disturbing part of all of this is the fact that their typical customer probably harbors a High School education, isnt too privy on the sophistication of financing and are down on their luck and have nowhere else to turn. I understand that it is every customers responsibility to be an informed buyer, but I truly believe these people are predators of the poor and desperate. Their business practices are despicable and truly make me sick to my stomach.
Truly, these people should not be in business. Selling a car at 2x the mark-up and then, on top of it, making the buyer feel worthless as they go rooting through their personal affairs and expenses.
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