• Report: #750623

Complaint Review: AID Auto Broker

  • Submitted: Fri, July 08, 2011
  • Updated: Fri, September 07, 2012

  • Reported By: richboi83 — Lauderdale Lakes Florida United States of America
AID Auto Broker
1730 SW 30th Ave, Pembroke Park Rd, FL, 33009 Hallandale, Florida United States of America

AID Auto Broker Autostyle AID and Ancor work together to take my 10,000 down payment just to repo my car 4 months later (They do this to everyone) STAY AWAY FROM THIS COMPANY Hallandale, Florida

*UPDATE Employee: REPO

*REBUTTAL Owner of company: SUBPRIME

*Consumer Comment: Its a Waste of Time...

*Consumer Comment: You're nasty responses won't win you fans

*Author of original report: AID Auto Brokers is a FRAUD & Ancor Financing is NOT A REAL FINANCE COMPANY!!!!!!!!!!!!!

*Consumer Comment: The REAL Story...

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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
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
. 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. 


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.

This report was posted on Ripoff Report on 07/08/2011 10:55 AM and is a permanent record located here: http://www.ripoffreport.com/r/AID-Auto-Broker/Hallandale-Florida-33009/AID-Auto-Broker-Autostyle-AID-and-Ancor-work-together-to-take-my-10000-down-payment-just-750623. 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.

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Updates & Rebuttals

#1 UPDATE Employee


AUTHOR: Chris - (United States of America)

I am a former employee and I know about this deal. This was not a $500 car it was closer to $20,000. I cant give out private info but no one repo's a car that is 3 weeks old. I would imagine his first 3 payments were all several days late, past the grace period. Alot of bigger banks do bi monthly payments.
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#2 REBUTTAL Owner of company


AUTHOR: Chris - (United States of America)

Thousands of dealers have there own finance company, if it was not for that alot of subprime customers would never get financed to buy a vehicle. You just put 10,000 down on a vehicle but you fall behind within 3 months that does not make much sense to me and in looking into your deal you were late on the first, second and third payment as well.

We are in the business to make money for ourselves, our epmployees and there familys BUT we do not do that by hurting our customers. we try to help out every customer to the best of our abilities. There are customers who are 2 months behind before a repo happens and since I cant go into why it happened maybe you can rebutt this and tell everyone WHY.
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#3 Consumer Comment

Its a Waste of Time...


...trying to reason with this complainant. There was no lawyer, there are no private investigators and the car was probably a 1998 Ford worth $500. The OP defaulted...the lender repoed...the OP is now making up all kinds of BS rather than be an adult and accept responsibility. Quite possibly professional help is indicated here too.
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#4 Consumer Comment

You're nasty responses won't win you fans

AUTHOR: voiceofreason - (United States of America)

No reason for your nasty response to Jim, and please don't lower yourself to that ridiculous level of complainers who think anyone here who disagrees with them works for the company they're bitching about. You are probably crap out of luck. Only a few months into the purchase you were already 3 weeks late paying? I could see your side of it, morally speaking, if you were already a couple years into the loan. But the rapidness of your descent into lateness removes the moral factor from your arguments. Why did you throw so much cash into a trophy vehicle in the first place, when you obviously were on such thin ice cash flow wise? And there's nothing wrong with bi-monthly payment schedules. It actually works to a borrower's advantage to set that up for mortgages, etc, because the loan typically gets paid off quicker that way. And you agreed to the payment schedule when you took out the loan. I'm not saying the lender/dealer aren't a bunch of scumbags. They probably are, but you bought from them, not us. And based on the way you answered Jim, I think maybe you're not so much different than the dealer/lender, except that they got the money and the car, and you got dialog with us on ROR.
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#5 Author of original report

AID Auto Brokers is a FRAUD & Ancor Financing is NOT A REAL FINANCE COMPANY!!!!!!!!!!!!!

AUTHOR: richboi83 - (United States of America)

O shut the f**k up.

This is textbook fraud and you know it. No real finance company respossess a vehicle within 25 days of non payment. Real finance companies with actual capital normally repossesses a vehicle within 60 days or more. In house financing is a fraudelant business practice conducted by unethical small dealers. The fact is their is no such thing as in house financing. These dealers purchase these vehicles themselves and then tell you that they are financing you when they are the actual owners of the car.

They do not send a check or wire any money to themselves because that makes no sense if they already own the vehicle. A real finance company does not have bi-weekly payments. Traditionally, monthly payments would be due once a month and not twice a month with a 10 daygrace period on each bi-weekly session. This is where the fraud takes place, if you leave a customer under the impression that they have 10 days to pay then they will eventually get behind on their payments if they utilyze the grace period each time. This is how the Fraud is propetuated and continued.

This is simply buy here pay here methods that this company is enforcing and saying that they are financing the vehicle when in actuality they are not. The target audience is sub-prime borrowers, and just because they are usually late on payments doesn't mean they don't intend to pay. When this FAKE finance company has payments due twice a month with 10 day grace periods on each cycle then they are just planting a trap for that subprime borrower to fall right in the hole. This usually happens 3-4 months after the contracts are signed. This way this FRAUDELANT company can take the car back and resell to another subprime borrower and do the same cycle over and over again atleast 2-3 times a year making a lot of money of one car and still have possession and ownership rights to the vehicle in the end.

This is going to be the end of the road for AID Auto Brokers & Ancor Financing because private investigators are already looking into the matter. Given the fact that they have a "F" rating on the BBB dealing with similar issues, they are not conducting business illegally and unethically.

And "JIM" the person who responded to this complaint. I am aware that you are not acutally located in orlando and that you are a representative working for AID Auto Brokers & Ancor Finance so your rebuttall are pointless and irrelevant because the investigation is already underway.

I give your company 8 months tops before you all are all indicted!!!!!!
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#6 Consumer Comment

The REAL Story...


If they said they had access to "special" finance, it means they have experience with SUBPRIME borrowers like you.  The reason YOU had to go SUBPRIME is because YOU gave yourself a reputation of not paying your bills on time.

The CONTRACT governs the terms and conditions of the loan.  The CONTRACT states a DUE DATE.  If the due date is a 15th, then making the payment on the 16th is LATE.Its a black and white matter.  Either YOU pay on time...or...YOU turn on the collections efforts up to and including a repo.  Its a very, very simple equation...YOU PAY on time or YOU FACE the collections efforts.  There is no "gray area", its all very simple.

Unless there is a statute in your state which requires the lender to give you the opportunity to "cure" the problem by bringing your account up to date prior to repo, there is no requirement to give you, me or anybody else advance notice of a repo!  To do that would be pure stupidity because many subprime borrowers who also suffer from subprime thinking would either hide, damage or destroy the car. 

There is nothing immoral, illegal or unethical about a car dealer to have their own in-house financing from a company they are in a business relationship with.  Its done all the time.

The REAL STORY here is YOU defaulted on a SUBPRIME contract and they exercized their rights to repo the car. One of the prime traits of subprime werlfare types is to blame everybody else for their problems and/or try to come up or make up something negative about the lender as a form of SOUR GRAPES.  

No attorney would have told you what you alleged.  Its just more of your pure, industrial strength BS to try to discredit the dealer only because YOU don't have the integrity or honesty to pay your bills on time.  YOU are the perfect example of subprime thinking at its lowest!   
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