• Report: #1012019

Complaint Review: PONDELLA AUTO MALL

  • Submitted: Sun, February 10, 2013
  • Updated: Sun, February 10, 2013

  • Reported By: JUSTICE SLAMMER — Cape Coral Florida United States of America
PONDELLA AUTO MALL
627 PONDELLA RD NORTH FORT MYERS, Florida United States of America

PONDELLA AUTO MALL THOMAS J FENDICK NO COPIES OF DOCUMENTS, RIPOFF GAP INSURANCE, RIPOFF INTEREST RATE, CAR BROKE DOWN ON THE CAR LOT. NORTH FORT MYERS, Florida

*UPDATE Employee ..inside information: True facts

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DONT BELIEVE ANY OF THE
POSITIVE REVIEWS. I AM SURE THAT THEY ARE ALL FAKE.AND IF YOU DID POST A
POSITIVE REVIEW, YOU STILL GOT RIPPED OFF. GAP INSURANCE IS NOT
REQUIRED IN THE STATE OF FLORIDA BY LAW. AND CANNOT BE REQUIRED FOR
OBTAINING CREDIT AS A CONDITION OF THE LOAN, BUT THAT IS WHAT THESE
PEOPLE ARE TELLING EVERYONE OF THEIR CUSTOMERS, AND CHARGING THEM AN
OUTRAGEOUS $595.00 FOR IT, WHEN YOU CAN GET IT FROM YOUR OWN INSURANCE 
COMPANY FOR ABOUT TEN DOLLARS A MONTH. ALSO THEY ARE CHARGING 29.9 %
INTEREST ON THEIR LOANS WHEN THE HIGHEST ALLOWABLE RATE IS 17.00% B 
STATE LAW. SO IF YOU BOUGHT A CAR THERE YOU GOT SCREWED EVEN IF YOU 
THINK YOU DID NOT.

This report was posted on Ripoff Report on 02/10/2013 10:16 PM and is a permanent record located here: http://www.ripoffreport.com/r/PONDELLA-AUTO-MALL/NORTH-FORT-MYERS-Florida-33903/PONDELLA-AUTO-MALL-THOMAS-J-FENDICK-NO-COPIES-OF-DOCUMENTS-RIPOFF-GAP-INSURANCE-RIPOFF-I-1012019. 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 ..inside information

True facts

AUTHOR: Set Record Straight - ()

I would ask that you please look up the state laws prior to making false claims.  For a vehicle purchased new the max interest that can be charged is 15%.  As for a used vehicle, the law mandates that 29% is the legal max.  Not the 17% as you stated.  If you do not believe me, please feel free to look it up.  The Florida State Statute is 520.08.  Let us consider a 5 year old used car that is being financed by a 3-year loan with 36 monthly payments.  According to Florida Statutes 520.08(d), a 5 year old car is a “Class 4″ used motor vehicle, and the maximum finance charge allowed is “$17 per $100 per year.”  So, the average used car buyer might think the highest rate allowed under Florida law for a used car loan like this is 17% APR, but the wording of the statute is misleading, and the actual APR allowed is much higher.  In fact, the maximum APR allowed in this example is whopping 29.07% APR.  (This rate varies slightly depending on the term or length of the loan, but for the most older model used car loans the maximum rate is between approximately 27% and 30%).

As for GAP insurance, it is in the best interest for anyone purchasing a used vehicle to have GAP being that vehicles lose their value every day.  If you are unfamiliar with what GAP insurance is please feel free to call and we will be happy to explain it to you.  To sum it up the difference between what you owe and the price of the vehicle may vary.  The GAP covers the difference between both so that you are not paying for a car you may not own anymore.  A customer has the right to refuse, but should not complain or write a negative review if they have to pay after the vehicle has been totaled out or not working correctly.

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