Consumer Question: Is there any way I can ‘get out of’ a car loan that was obtained/approved due to false/untrue income amounts that the finance manager, not me, wrote on my loan application?I did not want a car loan because I was already maxed out and could not afford another bill of any type. I…
See this new story: Apparently CarMax is waiting for a catastrophe to happen and their corporate image to suffer a major meltdown before they will stop selling recalled cars? WTNH-TV: Blumenthal; CarMax playing car recall roulette Full report, released yesterday by the CARS Foundation, ConnPIRG, and M & R, with US Senator Richard Blumenthal: http://carconsumers.org/pdf/CarMax-CT-report_New-Haven_Hartford-6.pdf
Here is an interesting article about online cars sales. http://www.latimes.com/business/la-fi-hy-cutting-edge-beepi-20150802-story.html#page=1 One possilble upside to Beepi, assuming their claims are accurate — they have a policy of not selling recalled cars unless the safety defects have been repaired. (Unlike CarMax)
The Attorney General of New York has reached a $14 million settlement with three car dealerships and plans to sue several others in a crackdown on the sale of unlawful credit repair services and other after-sale items that impose hidden or illegal fees on car buyers. The deal with jointly-owned New York City-area dealers, Paragon…
Is this true, or are dealers suing because it is? Online car buying site TrueCar Inc. was jus sued for $250 million Monday in New York federal court by 117 automotive dealerships, claiming the company misleads consumers into believing it can streamline the process of purchasing a car, which the dealerships say hurts their sales….
Think your V-8 throaty engine rumble sounds great? What if it is being faked and is just a recording pumped into the cabin through your speakers? Does that Mustang GT or Ford F-150 rumble now make you feel like a fool? The Washington Post just published a major piece on the industry practice, now widespread,…
Toyota Motor Credit Corp. on Friday said that it faces a potential fine from the Consumer Financial Protection Bureau and the U.S. Department of Justice for allegedly engaging in discriminatory pricing of auto loans.
Good Popular Mechanics article at (http://www.popularmechanics.com/cars/news/fuel-economy/confessions-of-a-car-dealership-service-manager-6311261). Service manager notes consumer ripoffs for “shop supplies” charges and part mark ups. Also notes to never buy “generic” service contracts / extended warranties — meaning those not backed by the vehicle manufacturer (Toyota / Ford, e.g.).
Dealers “markup” financing that they arrange for your vehicle purchase. The Dealer and the Finance Company then share the additional profits! Recently, Ally Financial agreed to pay a huge settlement for giving dealers this ability, and thereby allowing them to discriminate against minorities by charging them more! This violates the Equal Credit Opportunities Act. Automotive…
Just this year a class action settled that was brought against Capital One for financing GAP contracts that, in the fine print, did not actually agree to pay off the full GAP! These phony GAP agreements were written by Beacon Industries. The Consumer’s Friend is looking for victims of this scheme in California. Let us…
