I bought a BMW from AID Auto in February. I put 10,000 for my down payment and was making my monthly payment for 3 months straight. I then came a couple weeks behind and without warning, they repossessed my vehicle. I was only 3 weeks behind and I was getting ready to make my payment within the next two days and they repo'ed my car with no remorse.
They say that they are a special finance company and that they are playing by the rules of the contract I signed but in reality they are crooks, thieves, and liars. I CONSULTED WITH AN ATTORNEY AND FOUND OUT THAT NO FINANCE COMPANY REPO'S A CAR WITHIN A COUPLE WEEKS OF BEING BEHIND
. They do this on a regular basis. This is how they make their money. They let you put a large down payment on the car and then repo it in a couple months. They do this time and time again with the same vehicle, I'm guessing 2 to 3 times a year on the same car. This is unethical practice and they need to be exposed for the fraud that they are committing. I was never
told that if I am 3 weeks behind that they will repo my car, If I was told this when I was signing my contracts then I would of think twice about doing business with a finance company that does business like that. And I have no documents stating that, nor was it in my contract.Speaking of finance, Here are the facts.THEY ARE NOT A REAL FINANCE COMPANY
. All they did was get a finance license and incorporated a name saying that they are a finance company but in reality they are the same auto brokers that is purchasing the vehicles and reselling them. They are the same group of people behind AID Auto Brokers, Autostyle, Liberty Finance, and Ancor Finance. (In order to discover this you would have to be a business person to be able to read between the lines and they just signed a death warrant on their company because they repossessed the wrong guy who knows their secret and who is a business man himself) They make their money by accepting huge down payments and then repossessing the car within a few months down the line, and do it over and
over again. They use the phrase "Special Finance Company" but the reality is that it is a deceptive business practice that only they know. They don't honor any loan or put out a loan on any vehicle because they are the auto brokers and dealers themselves who bought the car, they say they do but they themselves own the cars. They are simply buy here pay here and nothing different. They legitimize their acts by obtaining a finance license and Incorporating this way they can have legitimate reasons for repossessions. When I was in their office, I took a glance at their computer and saw the buy here pay here form that they conceal. A REAL FINANCE OFFICE WILL NOT HAVE BUY HERE PAY HERE FORMS IN THE DATABASE
. This is how you uncover the fraud. I reviewed their company and found out that they have over 40 complaints on the Better Business Bureau which they are Rated "F", and a lot more reports on ripoffreport.com. I have read all the rip off reports and they all seem to share the same dilemma that I Incured but they don't seem to know what I know and that what AID Auto, Ancor Finance, Autostyle, and Liberty Finance is doing. Its a Fraud and they need to be investigated and I will report this to the highest authority and get some
private investigators to go in undercover and witness the deception first hand, at which point indictments on every management figure involved in those 4 companies listed above will experience.More Facts
They say that they are separate entities but I discovered another hole in their deception. AID Auto brokers phone number is 954-454-6000 and Ancor Finance is 954-454-8074. Asides from the same area code, both numbers carry the first 3 prefix of 454. I did a little research and found out that both phone numbers are under the same account. HOW IS IT POSSIBLE FOR THEM TO BE SEPERATE ENTITIES BUT THEY HAVE THE SAME ACCOUNT UNDER THEIR PHONE NUMBERS?
If you are looking for a used luxury vehicle STAY AWAY FROM AID
AUTO, AND AUTOSTYLE.
They will refer you to their phony finance companies Ancor, and Liberty Finance. They are all the same and they are not a real financial institution, they work together take your big down payment and then repo the car when you are a couple weeks behind so that they can resell your car and do it over and over and over again, this is how they make their money.
They tell you that your payment will be bi-weekly and give you 10 days grace period from each bi-weekly session. What that does is leave you under the impression that you have time to pay them when in actuality they are preparing for the repossession of your vehicle. STAY AWAY FROM THIS
COMPANY AND DO NOT, I REPEAT DO NOT DO BUSINESS WITH THEM
. Lets take a second
to think about this, if your payment is due in two weeks and you are utilyzing your grace period of 10 days and you then make your past due payment on the 8th or 9th day right before the 10 days they give you, your next payment will be due in aproximately 5 days. (How is that even possible? This is the fraud)
This confuses the mind and you eventually fall behind a couple weeks without knowing. This is the deceptive act this FAKE finance company uses. A real Finance company has payments due once a month and then give you 7-10 days grace period from the due date. Not Bi-weekly, this is fraud and a class action lawsuit will be in the works.
An Investigation will be put in place against these companies.
David the sales manager is a part of the fraud. And Miguel and Jerry are the closers right down the street. How Ironic is it that their so called finance company is right down the street and liberty
finance is in the back of the dealership. STAY AWAY FROM THIS COMPANY AND DO NOT PURCHASE ANY VEHICLES FROM THEM. THEY PRACTICE DECEPTIVE ACTS AND THEY ENFORCE FRAUDELANT BUSINESS PRACTICES OVER AND OVER. THEY ARE LIARS FRAUDSTERS WHO WILL EVENTUALLY BE INDICTED.
If you or anyone who is reading this has been a victim from these companies please send me an email at (((REDACTED))), or if you are interested in buying a vehicle from them, do some research first, check them out on the BBB where they are rated "F" or just send me an email and I will discuss everything about them. I am starting a petition and will be blogging about them all over the internet and the petition signed by everyone who has been defrauded by them will be helpful to authorities to bring these thieves to justice.
CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.