My wife and I purchased a 1993 Mercury Cougar from Eldorado Motors here in Tulsa OK. They had no prices on there cars and would not tell you any prices until you set down to sign.
In hind-site we should have walked out but we need a car at the time and signed on the line. We found out that we would be paying about $10,000 dollars for this car in 1999 and the car had high milage as well after a few months.
The car was needing alot of work so we decided to trade it in, after a few months, on something else that did not need as much work.
At that time we found out how upside down we were and realized that we were over about $8,000 to what the car was worth.
Discourged we could not break even I call them and asked if it would be possable to put it back on the lot and sell at the same price that we bought it for to recover from our losses. They said that they would repo it and send it to auction and would go for much less then what is owed.
They sold the car for $2,930 and that left a deficiency of $7,019.51 to pay.
Why are these auto dealers allowed to do business like this and screw people that are in need as well as get away with it.
They could have sold it on there lot and we would not have owed anything.
We are speaking out for us and for the other people that this poor excuse for a auto dealer has screwed and are continuing to screw.
We would love to stop this bleed in America.
David
Tulsa, OK
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