Most of these places sell a $3000 car for $4000, reset the interest rate to the maximum allowed under law, collect $1000 to $2000 in interest in six months, and then repossess the car.
I knew of a place that regularly sold the same car four or five times a year for several years.
Translation: We tell people WHATEVER we have to to get them to sign a contract, then we switch the interest rate and make it hard to nearly impossible for them to get out of it by claiming they had the car too long, put too many miles on the car, or charging a "restocking fee" higher than the payment would be. We've been doing it that way for YEARS!!!!
IMO the CG should send an MP company in armored Hummers with Mk 19s and level that scum sucking POSs lot, building and inventory. This is one of those extremely rare circumstances I would support such an action.
I never drove a new car home before signing a contract with the exact terms of financing. It sounds as if this dealer used this as a ploy to get military people to pay higher interest rates. A credit check takes only fifteen minutes unless you want to stall it until after the person thinks he bought the car.
Totally agreed. If the military has enough reason to make an order like this it sounds like there would be more than enough to make a case for investigation with the AG.