Carfagno Chevrolet Manipulated and deceived Plymouth Meeting Pennsylvania

On January 31, 2009 I visited the dealership with my daughter at about 4:00 p.m, with the intention of co-signing for a used car. She had lost her job for many months and struggled to keep up with a mortgage and other bills so I knew her credit was less than perfect.

The salesman asked whether I had credit problems and I told him "no", so he suggested that I put the loan in my name. I asked the price of the car (there was no sticker affixed to indicate this) and was told that I "could walk away with it for $13,100.00" (later to discover a Blue Book value of approximately $11,700).

After completing the initial application, they "ran my credit" and the salesman informed me that I was approved. I requested that the car be titled in my daughter's name since she would be the owner and the sales manager informed me that legally it could not be done.When I insisted, he called "the bank" and informed me that "the bank said it would be ok".

We completed paperwork and "closed the deal" almost 7:00 p.m. On reviewing copies of the documents I received (in an envelope), I notice that two or more copies were missing. One is an automatic membership to Citadel Federal Credit Union (the financing company) and the other is the Contract. When I inquired I was told that the owner of the company is the only one who can sign on behalf of Carfagno Chevrolet, so technically I did not have a contract. It would be mailed at a later date.

On Monday I received 8-10 calls from the dealership (on my cell, work and home numbers). They claimed that "the bank" is insisting that my daughter's name be placed on the loan and the contract re-negotiated. In addition, if they did not receive the information by Tuesday the contract would be cancelled. The other option is to return the vehicle immediately.

Although I do not mind returning the vehicle, it is the underhanded way in which some companies do business and get away with it. I believe that they are trying to extort more money by exploiting her credit situation, and see how they can increase the rate. My traditional credit score is in excess of 700 and the rate on the contract was almost 10% percent (no money down).

When we tried gaining clarity on the situation we were told that we had a "straw purchase" and unless we are willing to do what they say there's nothing to talk about. Well, there was a "straw purchase" on their part but certainly not on ours. We were honest and forthright in our side of the contract even in informing them that the purchaser would not be the owner. They are the ones who are trying to manipulate the situation to serve their best interests.

Their sales pitch, "WANTED, Good People with Bad or No Credit" is definitely their focus, therefore Good People with Good Credit will be taken for a ride.

Louise
Norristown, Pennsylvania
U.S.A.