Where to begin? all of these dealerships and east coast fund aka wisdom financial are owned by the same people they are just one big front for one huge fraud/scam. They prey on bad or low credit peoples dreams of owning a luxury car by spamming craigslist with low payments and approval for loans. They change the names of the businesses continuously to dodge legal action in an attempt to keep a clear name. I can take you through the steps of this scam. Law enforcement pay attention there are some felonies committed here.
1st step. THE AUCTION. Since this Ring rips people off they purchase vehicles from salvage auctions meaning the vehicles have been in serious accidents involving Frame, Flood, Fire damage or serious mechanical malfunctions aka LEMONS. These are the vehicles that have been picked over and rejected by legitimate dealers allowing them to be purchase at super super low prices. [continued below]....
..... 100% junk cars.
2nd step. FACE LIFT. After the vehicles are transported to various repair shops mainly Global the face lift begins. Mechanically the bare minimum is done to make the car go forward. Cosmetically the vehicles get a almost new appearance including new panels, paint, Interiors, frame stretching. 100% aftermarket everything anything to save a $1. Looking good and ready to SCAM.
3rd step. GETN OUT THE WORD. Spamming sites, like Craigslist are the hunting grounds for these CONmen. Posting these free adds via spammers in china, is cheap, effective, and done with no accountability. Simply post an add, use cars that you don't own VIN's, so the carfax looks descent along with a super low payment on a ultra luxary vehicle and bingo the phones are ringing and emails are pouring in. The adds are stating bad credit no credit no problem $329 a month for a bmw with only $2999 down. Ya sure with perfect credit for 96 months plus taxes and fees for a grand total of $9000 down. These adds are designed to do 2 simple things, get you to call or email and make sure you have a nice chunk of money ($3000) for them to steel. Now the trap has been sprung.
4th step. CONtact. So your a sucker and you call or email. If you Call everything's YES, "Yes, the car is available" really means the car never existed but if you come here ill rob you with a different more junky car, "YES, its equipped with this" really means the car never existed but if it will get you down here its equipped with it, "YES, the carfax is clean" means the one that i will forge and hand to you when you get here is. "YES, its a 1 owner lease return", means it was only in in one major accident that killed its owner. "YES we finance everyone" means once we find out your credit is bad well have you give us as many social security #'s as possible and call them "guarantors"untill we find someone to forge a contract with. If you are asked to email a credit application for per-approval the answer is YES you been pre-approved when are you coming to get your car??. In reality its just a way for them to get you in. NOW your hooked.
5th step. SETUP. You walk-in ready to take your dream car for a ride. OOOPPs the car is at "service" but how could that be you called and they said it would be ready for you to drive home. And If by some chance the car is there its unavailable to drive. This is where the FRAUD, LARCENY, and FELONIES begin. You will be instructed that the car will be ready shortly or tomorrow or some excuse but no worries "lets get the paperwork together". You will be asked to fill out and sign the credit application if you haven't already been "pre-approved" and also be instructed to hand over the $3000 they asked for as a "down payment". Then your conman will leave the room as they go and pull your credit and give your money to the manager. Of course the credits bad thats why your here.
He then returns and states "alright congratulations we've got you approved we just need a day to shop your interest rate with the banks we want to make sure you get the best deal." the a manager enters shakes your hand and says congratulations and hands you a receipt this is to get you to leave without your money of-course. If you ask "what your payment is" its always the advertised price in this case $329 a month. If you ask about a "Carfax" its clean but a manager has to pull it and if you keep asking they will be happy to forge one for you by either giving you one from another vehicle or even doing some quick editing work on a separate computer. As for your trade they look it over never giving you an answer on what its worth and forget about even finding out until your sitting at the "closers" desk the excuses are we haven't figured out a number yet or where waiting on some phone calls. Now you left but for some reason the only thing you have is small piece of paper no "signed buyers order" legally binding masters to a contract, No Test drive, and half the time not even seeing the vehicle. Its all down hill from here Folks
6th Step. Marination. Now your all happy the luxury car of your dreams is in your grasp. Hands were shaken, down payments were given the luxury car as good as yours. Now you call your friends, family, co-workers everyone you know and tell them about your new benz, bmw, lexus and what a great deal you got. After the night is through the whole world knows and your mentally sold to the vehicle after this point you will do anything to get into that car. So sweet dreams.
7th Step. THE CALL. This is where the serious law breaking starts. Your credit is bad there is no way they can get you approved for a $60000 loan on a car only worth $34000 thats right there not going for a couple $1000 there going big. The call goes like this hello this is, are you ready to pick up your car, ok great we got you approved there a couple of options though the bank is requiring so here are your choices you can A. Put down an additional $10000, they know you dont have it so there not worried about you saying yes. B. Find a cosigner, they know no one on earth is going to sign for you everyone knows you dont pay your bills. C. Place you on a special "guarantor" Program, Here are a series of FRAUD and FELONIES They will tell you that it is not a cosigner but someone who is guaranteeing your payments to the bank for six months and then after that they are removed from the program and that the car is 100% yours. This is 100% false this is a way for them to gather social security numbers and personal information without the permission of that person and run there credit. Now this step is repeated until they can find someone with strong enough credit to carry there over charges. Running someones credit without there permission is illegal. If someone isnt found they will be more than happy to lease you the car themselves without you knowing it making it appear to you that you actually purchased it.
8th Step. The HARD CLOSE. THESE are the FELONIES. Now you've been instructed to bring your guarantor with you to sign some papers. this is the closing where the majority of the time you won't even see any numbers on the paper they simply have you sign in a couple places then leave and add the numbers later. Then if you fall for it they'll get your car ready. This means forge some DMV documents to get you plates or transfers. Commit insurance fraud by adding the vehicle to your Guarantors Insurance and then remove it the next day. Its hard to believe but these people are doing it every day. When they do fill in the rest of the paperwork , Your down payment has been left out, Your trade is added not subtracted from the total the pric. the price of the car is through the roof and your interest is sky high. This is why they needed your guarantor with good credit to get such an absurd amount approved. And surprise when you finally get your paperwork a month later the guarantor is now the FULL owner of the vehicle responsible for a $1000 a month payment and you well you've been showing off your new car for a month and going to be too embarrassed to do anything about it. And the alternative is that if they dont find someone else to put the car under they fraudulently lease a much cheaper vehicle to you. They will have you sign paperwork and pretend that you own the vehicle but in reality no title is coming in the mail because you don't own the car, east coast fund aka "Wisdom Financial" does there own personal bank. So after 3 years of making payments the tow truck will be outside your door and don't worry they know where the car is because they put tracking devices on all there fake "leases".
These Crooks have operated long enough in NY its time for them to pack there bags if you were unfortunate enough to purchase a vehicle from these Scum get a lawyer and sue. And Law enforcement its easy enough through dmv records to know who has been victim here.