On July 14 my fianc and I went to Davis-Moore Mazda for service work on her 2008 Mazda Tribute. We had been thinking about trading it as we were displeased with it and wouldn't be able to sell it for what we needed to get out of it. We decided to look into trading the Tribute for a 2008 Mazda CX-7 as they had some good deals going on so that night we decided to trade. The sales person got us some numbers for the vehicle that we agreed with so we decided to complete the trade. We went to the finance department to fill out the paperwork and contracts. Sadly, I didn't pay enough attention to the contract and signed it. The finance guy had added a $1,686.26 credit disability insurance policy as well as falsified all of the other numbers on the contract. We agreed to the purchase price of $23,935 with a trade in of $13,000 on our Tribute and a $451 tire/wheel guard warranty. We originally had a balance on the Tribute of $20,650 making the trade a negative of $7,650, which we agreed to.
The loan was originally setup as a 6-year (72 month) loan with an 8.65% APR with one bank. The finance guy called us back the next day and told us he had found a better deal with a different bank on a 7-year (84 month) loan. He had also found that we only owed $19,828.43 on the Tribute after removing an extended warranty, which we agreed to. With the correct numbers our loan should have been $31,903.34 over 7 years. (note: The finance guy actually kind of lied about finding a better deal, the first bank actually declined the original loan which is why there was a switch).
On the first contract the finance guy put the purchase price as $28,777.98, with tax, and a $17,000 trade in. The tax listed was $698.98 however it should have been $697.98 based on the falsified numbers. The correct tax amount based on the falsified numbers was listed on the tax form they mailed me ($697.98). The true tax based on the true numbers should have been 688.91. Take away the tax and the claimed purchase price was $28,079, which is $1,144 above MSRP. Note that the claimed purchase price is $4,144 higher than the true purchase price and only added $4,000 to the trade, which makes it look like they got another $144 off of me.
On the first contract he added $1,689.26 of credit disability insurance but did not add the $451 for the tire/wheel guard warranty. On the second contract he changed the insurance around and added $2,605.28 for disability and $2,116.79 for credit life insurance for a total cost of $4,722.07 and again did not add the $451 tire/wheel guard coverage to the contract. On the second contract he had the same tax, purchase price, and trade numbers as the first. On both contracts the actual length of the loan was longer than it was supposed to be. The first was supposed to be 6 years or 72 months but the actual term ended up being 81 months and the second loan was supposed to be 7 years or 84 months and was actually 91 months.
Now, on top of the falsified numbers on the contract they also reported falsified income numbers to both of the banks the application was sent to.in both cases, about $300 dollars was added to my monthly income and about $600 to my fianc's monthly income. I called both banks and verified with them the falsified numbers that were supplied to them.
On top of the falsified numbers I found that the insurance form has been forged. (I know it has been forged but will only have 100% proof once I get the video financing process). I do remember signing the form (and have a copy with my signature) but do not remember checking the check boxes on the Good Health Statement nor does my copy have the boxes checked, which the form states that if any of the answers are incomplete the coverage will be canceled or denied. I received a copy of the form from insurance company and found that the check boxes were indeed checked but not by my hand. My copy of the form also has my signature but no marks on the check boxes. Like I noted above, the transaction in the finance office is supposed to be recorded by audio and video so the video should contain further proof that I did not mark the boxes on the form.
As it stands... My 7 year, $31,903.34 loan is now a 7 year 7 month, $36,330.98 loan. My payments should have been $485.42 but are now $511.24 meaning that I would now have to pay $5747.56 more over the course of the loan and on top of those losses have lost a lot of money due to having to miss work to deal with this situation.
I have reported them to the District Attorney and am looking to report them to as many other places as I can. I will not stand for this kind of unethical treatment and illegal activity from a business and hope people see my report before trying to do business with these guys.
I have all of the names of the people I've talked to and dealt with as well as the names of the banks and insurance company but have left them out at the moment. If they need to be added I will gladly do so.
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