I've seen some pretty nasty loan in my position as loan under writer at a major financial institution, but when I had a couple walk in with a contract from this place I honestly got sick to my stomach!
The people that work there are so deceptive I can't even begin to describe it, but I'll try and if I can keep even one person from buying a car there then I'll consider this time well spent.
Well this couple was obviously lower-middle class and uneducated and therefore easy prey for some sleaze bucket sales man. I will try to update with his name because I want to drive him out of this field of work!
So, basically these people had never traded in a car before and they came in to my office to ask why our bank hadn't picked up their car yet? I inquired, "why are we supposed to pick up your car?" and they said well our they told us at Nissan that you guys pick up the trade in... I said. NO, we don't, when you trade in a car the dealer keeps it there that day.
So, they said well look here at the contract, thats why our payments are so high because they added the trade-in and it was upside down in value... So I looked at their contract and it stated TRADE IN: N/A... I told these sad people. There is no trade-in value in this contract. They started crying saying they don't have enough money to pay both cars as the payment for the junk they bought at nissan of orange was $590/ month for 72 months for a *used* mini van.!!!
And it continues... The guy said well thats only our payment for the first 6 months then it goes down to our normal payment of $300... I said. No, it clearly states here that the payments are $590 for 71 months b/c you gave a down payment.
SO, basically I had to break it to these people that they got ripped off in every possible way.
I know maybe its the consumers fault for not educating themselves before going to meet with those pack of wolves but shouldn't there be some kind of ethics in business? This guy was going to pay nearly 45k (w / down payment) for a used mini van (I think it was a Dodge Caravan) and being a customer of ours I had access to his credit and it was not bad.
They walked out of my office in tears and I felt so upset. I wanted to call Nissan of Orange and yell at someone but I realized that it wouldn't make a difference b/c they wouldnt care, all they care about is robbing unsuspecting citizens... No matter what way you look at it, this was down right theft!
Please stay away from this dealer!!!
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