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Report: #1333884

Complaint Review: Big Red Sports & Imports of Norman - Norman Oklahoma

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  • Reported By: Shawn Mark — Mustang Oklahoma USA
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  • Big Red Sports & Imports of Norman 418 N. Interstate Dr. Norman, Oklahoma USA

Big Red Sports & Imports of Norman Miseading, Unprofessional, Fraudulent Norman Oklahoma

*Consumer Comment: You can fix this situation

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I used Big Red Sports and Imports twice in two years to finance vehicles. First vehicle, October of 2014, I was told I could return in one year and refinance this vehicle at a lower rate. I did not have a means of transportation, so reluctiantly, I took the vehicle offered at $494 per month. I returned 365 days later to refince and lower my payments, they said I was upside down on my payments and would not refinance. The company that they found to first finance me, The Key, that company discontinued doing business with Big Red. 

October, 2015, Big Red eventually got me into a new 2015 Kia Optima because they said it was easier to do so in a brand new vehicle.  I took the accepted this offer and was/am paying $526 per month.  Again, they said I could return in a year and refinance this Kia to lower my payments.  My other vehicle, the one financed through The Key, they had me follow one of their sales associates in that vehicle, to a hotel north of Big Red, remove my tag and leave it there behind the hotel.  They said it would be taken care of later. 

Over the past year, I've had a law firm work on cleaning up my credit and I have gotten a raise at work. My credit score has gone up considerable and I am financially better off.  I went into Big Red Sports & Imports on Monday, October 17, 2016 to refinance my vehicle and/or see what they could do about getting me a lower interest rate.  The said that I was "upside down" again and could not get me a lower interest rate.  they tried to get me into a new Kia, again, then had to audacity to say I could pay $716 per month and pay it off quicker. 

Nothing became of this last visit to Big Red to try and get a lower interest rate and refinance at a lower payment.  I left angry, thus, I am on here.  I found out via several attorney friends, that Big Red has numerous complaints and has even had a Norman Police detective, along with uniformed officers, go there on complaints that they were reselling cars that were being left there after they got persons into new vehicles. 

Big Red Sports & Imports should have a full investigation done on their unethical behavior and illegal transactions that they "continue" to do.  I am considering going to local news stations.

 

This report was posted on Ripoff Report on 10/18/2016 07:27 PM and is a permanent record located here: https://www.ripoffreport.com/reports/big-red-sports-imports-of-norman/norman-oklahoma-73072/big-red-sports-imports-of-norman-miseading-unprofessional-fraudulent-norman-oklahoma-1333884. 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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#1 Consumer Comment

You can fix this situation

AUTHOR: FloridaNative - (USA)

POSTED: Wednesday, October 26, 2016

I don't work for this dealer or any other car dealership, but I know how financing works.  

You can refinance with a credit union or bank to receive better loan terms. Especially since your score has gone up over the past 12 months. Do some research to find the best lenders for your situation.  

As to being upside down, this occurs (usually) if you don't put down enough money and if the loan you have on the vehicle is high interest.  It also occurs if you have rolled in a bunch of negative equity from a previous vehicle by trading.  The way to cure negative equity is with cash.  Make a large payment to your existing lender or bring extra cash to the deal when you refi to pay off the negative equity portion.

By the way, here is a tip for you:  anytime a car sales rep tells you to come in next year to refinance, you are working with a snake.  Walk away. 
 

Car dealerships do not refinance vehicles - ever.  They sell vehicles.  When they tell you to come back next year, they are planning to rip you off again by trading in a totally upside down vehicle to a more expensive car with a bad loan.  If they tell you to come back next year to refinance, get up and walk out without signing anything. Save yourself time, money and heartache.  Get your financing through a credit union or bank before you ever shop for a vehicle. Good Luck

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