Complaint Review: Dobbs Ford of Mount Moriah - Memphis Tennessee
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- Author Not Confirmed
- Dobbs Ford of Mount Moriah 2515 Mt Moriah Road Memphis, Tennessee USA
- Phone: 901-209-1259
- Web: www.dobbsford.com
- Category: Auto Dealers
Dobbs Ford of Mount Moriah Memphis Ford DealerDobbs Direct Ford DealersAutonation Ford Memphis Unethical Dealership, Frauds and Crooks, Engages in "Fraudulent Concealment" of Interest Rates and Financing Deals, Makes "SIDE DEALS" with Lenders to DRIVE UP RATE Unknown to Customer! SUE THEM! Memphis Tennessee
*Consumer Comment: BTE,
*Author of original report: Dobbs Ford LIED to me. The Lender Contradicted "EVERYTHING" Dobbs Ford Told me About the Loan.
*Author of original report: "FRAUDULENT CONCEALMENT "IS" ILLEGAL"
*Consumer Comment: Why Did You Agree To It?
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I purchased a used vehicle from Dobbs Ford at Mount Moriah in Memphis. I had very good credit. Pretty good anyway. My credit score was near 700. The salesman and finance manager "conspired" to work against me and have me put down far more than I should have. The finance manager went back years to find one blemish on my credit report and used that as a "justification" to drive up the interest.
First they told me they had "found a lender" and then after I had signed the initial paperwork, they called me to the back and said the lender couldn't work with me unless I put down extra ( I later found out this was a LIE. The lender informed me they had nothing to do with the down payment). Then they told me my interest rate would be doubled what they had intially told me. I had taken off of work and went ahead and took the deal anyway.
I needed a car.
I later found out that the lender had charged me less than "HALF" on the interest and that Dobbs Ford had pushed up the interest in a "Side Deal" with the lender which was unbeknownst to me.
Dobbs Ford of Mt Moriah Finance manager had LIED.
This was "FRAUDULENT CONCEALMENT" and I get the feeling I am not the only one this has happened to.
If this should happen to you, make sure you SUE THEM as this is against the law!
STAY AWAY FROM DOBBS FORD OF MT MORIAH AND THE WOLFCHASE LOCATION TOO
DOBBS FORD HAS NOTHING BUT SCAMMERS AND CROOKS!
THEY ENGAGE IN SIDE DEALS WITH THE LENDERS TO PUSH UP YOUR RATE FAR HIGHER THAN IT SHOULD BE. THIS EXTRA GOES AS RECIDUAL PAYMENTS TO THEM OVER THE YEARS!
THEY LIE TO THE CUSTOMERS ABOUT THEIR CREDIT WORTHINESS TO GET THESE EXTRA MONEY FROM PEOPLE.
This report was posted on Ripoff Report on 08/22/2013 04:14 PM and is a permanent record located here: https://www.ripoffreport.com/reports/dobbs-ford-of-mount-moriah/memphis-tennessee-38115/dobbs-ford-of-mount-moriah-memphis-ford-dealerdobbs-direct-ford-dealersautonation-ford-me-1078221. 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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#4 Consumer Comment
BTE,
AUTHOR: Karl - ()
SUBMITTED: Friday, August 23, 2013
Feel free to 'Google' this- CAR SALES: TRICKS OF THE TRADE- DATELINE NBC CONSUMER ALERT, and watch that video on the web for important information.
Anyone can go to their bank or credit union prior to going into a car dealership and find out what interest rate they qualify for. Most car dealerships make the majority of their profits on 'back-end' products, such as interest rate mark-ups, warranties, GAP insurance, and other financial products that are not necessary. Good luck to you, and make sure to spread your Ripoff Report all over the web at sites like Twitter and Facebook!
#3 Author of original report
Dobbs Ford LIED to me. The Lender Contradicted "EVERYTHING" Dobbs Ford Told me About the Loan.
AUTHOR: BTE - ()
SUBMITTED: Friday, August 23, 2013
Jim COMPREHENDING what you read is integral to understand what someone has written. It's called READING COMPREHENSION.
it is not illegal to "markup" what one charges but it is considered illegal (last night I read many lawsuits on the web by people who SUED the dealers SUCCESSFULLY for being fraudulent with them in FINANCING and concealing dubious and tricky financing terms."
People who were MISLEAD.
The dealer LIED to me about the finance company MANDATING a certain down payment to have me find out from the FINANCE COMPANY this was FARTHEST FROM THE TRUTH.
The dealer FRAUDULENTLY MISLEAD ME into believing my interest rate was the result of a YEARS BACK CREDIT BLEMISH to find out from the Lender this too was NOT TRUE.
The lender had a much, MUCH, smaller interest rate and the dealer, DOBBS FORD, had kicked it up using a very controversial practice of making a SIDE DEAL with the lender many dealers have been sued before for using disproportionately with people of color.
This SIDE DEAL allowed the lender to take one rate and the dealer to PUSH IT UP HIGHER JUST BECAUSE THEY COULD and get what's called KICKBACKS.
I have read a lot of activity from our congressmen in Washington who have taken great exception to this practice as well as the ACLU.
But it was the fact I was LIED TO by the dealer MORE THAN ONCE.
So I am doing my duty to notify the public.
#2 Author of original report
"FRAUDULENT CONCEALMENT "IS" ILLEGAL"
AUTHOR: BTE - ()
SUBMITTED: Friday, August 23, 2013
There is a reason that Congress has tried many times to regulate this market and a reason so many car dealers are mistrusted. These guys are very immoral.
I was MISLEAD to believe that my interest rate was solely because of my credit worthiness. Dobbs Ford went back YEARS to find ONE BLEMISH.
Yes. I should not have taken the deal but that in no way absolves Dobbs Ford of any liability by Misleading me. To call and find out from the lender what my "actual" rate was which was far below what the rate showing on my paperwork was constituted fraudulent concealment.
I have a friend who is a lawyer and he told me so.
These car companies are SCUM.
There is a reason they are considered one of the most "distrusted" industries by Americans. Hmm.... wonder why that is?
Oh yeah.. and to LIE to me by telling me the FINANCE COMPANY MANDATED THE DOWN PAYMENT when the Finance company TOLD ME they have NOTHING TO DO WITH THE DOWN PAYMENT was wrong too.
That was nothing but a BALD FACED LIE.
NO WAY AROUND THAT BUDDY.
#1 Consumer Comment
Why Did You Agree To It?
AUTHOR: Jim - ()
SUBMITTED: Thursday, August 22, 2013
Marking up the APR is common practice and not illegal. If you didn't like the numbers then quite obviously, you shouldn't have taken the deal.
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