Complaint Review: 1st Place Auto - Watuaga Texas
- 1st Place Auto 6650 Denton Hwy Watuaga , Texas USA
- Phone: (817) 656-7770
- Web: http://www.1stplaceauto.com/
- Category: Auto Dealers
1st Place Auto AutoNote, LLC All Cars have mechanical issues, Theives, bad costumer service - BEWARE - Do not get caught in their scam Watuaga Texas
*Consumer Comment: You can buy whatever car you want
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BEWARE I lost my job and apartment and when my car got repossessed I was told I had a month to get my things out of it. I took the 2hour trip to retrieve my things and when I got there I found that it had all been stolen. They were extremely rude to me and blamed the sheriff's department and blamed me saying "well it's not our fault you didn't pay." After I had already explained that I didn't mind the repossession, I know that ifi you don't pay, you lose the car, ask I wanted was my son's car seat and things out of it.
The day I bought the car I had to drive a rental off the lot because it wouldn't start. When I saw this, I told them I wanted to purchase a different car because I didn't want to buy a car that was broken down. The response I got was ridiculous... "you've already signed a contact on this car, sorry!"
TAKE YOUR BUSINESS ELSEWHERE! THESE PEOPLE ARE UNPROFESSIONAL AND CHEATS!
This report was posted on Ripoff Report on 05/04/2016 06:06 PM and is a permanent record located here: https://www.ripoffreport.com/reports/1st-place-auto/watuaga-texas-76148/1st-place-auto-autonote-llc-all-cars-have-mechanical-issues-theives-bad-costumer-servi-1303689. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 Consumer Comment
You can buy whatever car you want
AUTHOR: FloridaNative - (USA)
SUBMITTED: Monday, May 23, 2016
I am a consumer and there seems to be some confusion on your part about what happens when you borrow money to purchase a vehicle - any vehicle from any place.
If you finance the vehicle, the note you sign is through whoever loaned you the funds to purchase the vehicle. The contract for the purchase will tell you the terms of the purchase and the note from the lender will tell you the terms of the loan.
If you fail to make the payments, for any reason, on the loan/note, then the vehicle will be repossessed. At that time your lender will sell the vehicle at auction and apply the sale proceeds to the outstanding balance due. Usually the lender sells it for much, much less than the remaining loan balance and you are responsible for paying off any remaining amount due to the lender. This is how all auto loans work. The funds you borrow are used specifically to purchase the vehicle you bought through the dealership.
The loan is separate from the vehicle in that once the loan is made, you have to pay it off to remove the lien from the vehicle. However, even if you no longer have the vehicle and there is a remaining balance on the loan, it will still accrue interest. The loan continues to exist until it is paid off. Actually, there are two ways to get rid of the loan: pay it off or file bankruptcy. The bankruptcy court can void the loan, but short of that, you owe it until paid off.
So yes, you can buy another car - for cash or with another loan, but it won't extinguish the remaining balance due on this loan and the funds don't 'transfer' to the new vehicle. So your request to have another vehicle rather than the one you had repo'ed would be impossible to fulfill without paying for the second vehicle. The funds you borrowed initially were used to pay for the first vehicle.
Spend some time studying loans with collateral and without collateral before you borrow money for something else so you have a complete understanding of how loans work. I don't work for these people, but I know how loans work. Once you have a good understanding of loans and how they work, you will find that you will have much better terms offered to you. Better terms because you won't sign for loans with bad terms. The information is free, right here on the internet :)
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