Michaels Reno Power Sports preditory,deceptive lending practice. Reno Nevada

My name is Brandon Elario Asst. Sales Manager of Michaels Reno Power Sports. I have been working in the power sports industry for the past 5 years, including two of the largest dealerships on the west coast. I have also had extensive training with the financing aspect of this industry, so I am very familiar with the process of buying a power sports vehicle. I would like to clarify the sales process that is in place here at Michaels Reno. As a new customer on our showroom you would most definitely have been approached by one of our product specialist for assistance, after taking the time to help you find the machine that suits your needs. You will be asked to sit down at the specialists desk; at that point the sale price is written up and questions are asked to find out how you will be paying for this purchase. If financing is the option you will be asked to fill out a credit application, once finished our finance department will take a look at what unit is being purchased and make the decision as to what bank to send the application to. The reason we have to choose banks is that everything sold in our dealership is classified as a luxury vehicle which in turn means the banks loan out their money at a higher rate, used vehicles being loaned out at a much higher rate. Once the deal is approved and the price is agreed upon, the specialist will introduce one of our finance managers, If everything looks good the next step is signing paperwork with that finance manager. During this process the customer is given the details of the purchase including but not limited to, annual percentage rates and monthly payments.

In order for Michaels Reno to open an account for a new customer it requires multiple signatures where the customer has the opportunity to review all details of the financing. I have worked for some companies that strive to take advantage of their customers and I have to say I don't feel that Michaels is one of those companies. In closing I would like to add that I was personally involved with helping resolve this situation, I made sure to help this customer understand that he had other options and that I was here to help with any questions he might have to resolve this problem.

michael and rachelle giroux ,owners of michaels reno power sport and michael romero,finance specialist,seem to think its proper to let me think i am signing papers for financeing through a local bank. when in reality i'm signing for high interest credit card. how is this sort of thing allowed to happen?