- Report: #170337
Report - Rebuttal - Arbitrate
Complaint Review: Fairco Finance - King Motor Company
Fairco Finance - King Motor Company1399 S. Federal Hwy Deerfield Beach, Florida U.S.A.
Fairco Finance - King Motor Company Sold me a used lemon at high interest rate, then farmed loan 13 years later ripoff Deerfield Beach Florida
*Author of original report: Second complaint found on this site
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Iin 1993, I needed to get to work. I had bad credit, and I went to KMF to seek assistance with the purchase of a used car. They said the only car I could buy was an '86 Hyundai Excel (basically, bend over and grab the ankles). Now, we are all aware of the super high quality of this car. I knew they were trying to burn me, but at 23 and in need of keeping my job, I did what I had to do. The contract called for 28%!
3 months after I purchased it, the "Starship Enterprise" stranded me in the Keys on vacation. The stick locked up. I couldn't get it out of Reverse, though the Tranny was OK. A cheap repair for KMF. I had to pay $200 to get off the islands and I told KMF to go ahead and pick up the car. They called me a week later, and I met with the rep who told me I would have to pay the towing costs. I told KMF to go fly a kite.
The least they could've done was tried to get me in an alternative car. I made my payments while I owned the car. This used junk box could've easily been repaired and resold, which I'm sure was done. Leave it at that. NO ! I get a call from Cornholio Recovery Associates on 01/03/06 to MY BUSINESS LINE demanding $3782.00 ! NEW HYUNDAIS DON'T GO FOR THAT!
This is price gouging, over-the-top interest charges, credit abuse, and unlawful collection practices 13 years later (not to mention possible credit company discrimination, being Hispanic). Statute of Limitations in Florida is 5 years.
Needless to say, DON'T EVER BUY A CAR FROM KING MOTORS FLORIDA, especially a used car.
This report was posted on Ripoff Report on 01/03/2006 09:35 PM and is a permanent record located here: http://www.ripoffreport.com/r/Fairco-Finance-King-Motor-Company/Deerfield-Beach-Florida-33441/Fairco-Finance-King-Motor-Company-Sold-me-a-used-lemon-at-high-interest-rate-then-farme-170337. 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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