On May 29 I went to Adamson Ford located at 19922 Second Avenue South, Birmingham, Alabama 35223 to look for a used Ford SUV that I might consider purchasing. I was greeted by Tommie L. Gosha, a salesperson. I saw two Ford SUVs that I was interested in getting a good deal on so I could buy the one that I wanted.
I decided on a 2003 Ford Expedition XLT. Since I was a previous customer who had purchased and paid off a 1997 Ford Explorer, I thought Adamson Ford would give me a good deal on the 2003 Ford Expedition XLT. I was more than wrong, Adamson Ford charged me $24,650 for the SUV that can easily be bought any where for $18,000, since the vehicle had over 60,000 miles on the odometer.
To top it off, they added the following items to the sales invoice: DOC Fee $290, Sales tax $898, License $ Title $17, and ESP Warranty $2,000. The total invoice amount came to $26,863. Then, they charged me a 16.9% interest rate to finance this purchase, even though I had previously purchased and paid off the 1997 Ford Explorer and I did not miss a payment. I truly thought that Adamson Ford would deal with me in "fair faith, " but they did not. I am deeply hurt because as a valued customer, I was looking for them to give me a fair and honest deal.
Here is the scheme that I believe that I have uncovered. I believe that Adamson Ford prey on black and poor customers who they know is not a credit risk, but charge them a extraordinary interest rate to finance their car. They use the excuse of a high credit score even when a careful review of their credit report show that the short term credit card debt is fraudulant, since they have been paying their long term and expensive debt off with no missed payments.
In addition, they charge them above the market value for the vehicle. Futher, they get them to finance their car through CITI Bank in Coppell, TX who charges very high interest rates on cars that they finance. Plus Adamson Ford adds a high ESP Warranty insurance policy to the vehicle's total invoice price. To me, I believe this is "flim flam" operation.
In my case, Adamson Ford did not steer me to my local bank or to other sources of low finacing. Moreover, I expained to them that TransUnion as a signed affidavit from me stating that I have no credit card debt and my house is paid for and I don't have a car payment. Further, I have been living at my current address for almost 20 years. Finally, they sent the loan to CITI Bank instantly and want me to pay off the loan if I get other financing, even though it had been less than 24 hours since I purchased the automobile.
I wonder how many other customers have been caught-up in this scheme. I want your organization to find out and put them out of business if they are found guilty.
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