• Report: #100018

Complaint Review: Link Brothers Ford

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  • Submitted: Wed, July 21, 2004
  • Updated: Wed, October 13, 2004

  • Reported By:Rice Lake Wisconsin
Link Brothers Ford
2700 Decker St Rice Lake, Wisconsin U.S.A.

Link Brothers Ford ripoff, fraud. cheats and Thieves Rice Lake Wisconsin

*Consumer Comment: Facts don't add up!

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After filling out finance form and quoting the price and payments and trade in info. They said the printer was down and that the contract will be ready tomorrow.

So the next day went down picked up book and contract, went home and went on with life. Till the finance company sent us our payment record. we found out they changed all info on the contract and that instead of 9.5% interest it was 18.9% and that the cost of the explorer was $31,000 insted of the $19,000 we had agreed upon.

They even tryed to type our Brothers and Sisters names but they spelled that wrong Also.

Watch your paperwork just because you may have signed your name to the contract in front of you that doesn't mean that thats how it will be printed up or phote copied to a similar contract.

David
Rice Lake, Wisconsin
U.S.A.

This report was posted on Ripoff Report on 07/21/2004 11:53 PM and is a permanent record located here: http://www.ripoffreport.com/r/Link-Brothers-Ford/Rice-Lake-Wisconsin-54868/Link-Brothers-Ford-ripoff-fraud-cheats-and-Thieves-Rice-Lake-Wisconsin-100018. 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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#1 Consumer Comment

Facts don't add up!

AUTHOR: Bruce - (U.S.A.)

In reading David's complaint I find a lot of facts that just simply cannot be true.

1. Banks approve the finance contract not the dealer.

2. Customer's sign all the paperwork before they leave the dealer and receive copies of all paperwork.

3. Banks underwrite all auto dealer's paperwork and verify the facts, i.e. income, residents, credit, purchase price, and book value before they will fund a contract. Until the contract is verified the dealer is on the hook not the bank or consumer. Since it is very unlikely any dealer would carry the paper themselves or let a consumer drive a vehicle that is not paid for facts again don't add up.

4. Credit score not the dealer or bank dictates what interest a consumer pays. These rates are regulated in the State of Wisconsin so that a consumer CANNOT be taken advantage of. If you are paying a high rate of interest it is because you had poor credit, not because of the dealer.

5. The price, tax, license and trade all must be submitted to the bank for approval prior to signing any finance contract. It is highly unlikely that the dealer changed the price after the fact since the bank would have to approve the change first. In the event the dealer did this any bank would contact the consumer directly to verify the change before accepting the contract.

6. Banks do NOT approve finance contracts with out a signed credit application authorizing the bank to check credit. At the time the credit application is submitted to the bank it MUST include the terms, vehicle, book value and be signed by the consumer.

Dealers and banks just can't do paperwork, put your sisters or brothers on the contract and check credit without specific authorization. The credit bureaus requires: name, social security, date of birth, and address before credit will be released on a consumer. All banks will NOT check credit or negociate terms without a signature authoring them to proceed.

Your facts don't add up considering how the system really works and the facts you have stated clearly could not have occured in todays financial environment. There are too many checks and balances for this complaint to be true.

Banks and dealers simple CANNOT do business in the manor you have describe.
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