Complaint Review: Mitsubishi Motors Credit Of America

You guys do realize that Ford and GM worked closely with the Germans during WW2?

Cances are there is a Mitsubishi powerplant in there. I have two American-made Dodges, both with Mitsubishi engines. Other makers use them also. They are also in forklifts, cement mixers, almost any equipment you can imagine. Going to be tough to avoid buying from them.

I think all the dealers are pulling the lease/buy switch these days. You "buy" a car only to find you've signed a cleverly worded lease. I know someone that recently got surprised by VW when she asked for the title, and found out she is leasing. Can't take the car out of state for her new job even.

Leigh,
First of all if you made your 65 payments of $415
and your final payment of $10,000 the total would be only $36,975 not $39,000 be accurate.
second you stated the truck was $26,000. a 66 month loan on a 26,000 truck with an above average interest rate @ 7.9% has a payment of $530. If you take $530 x 66 your total is $34,980
so you are really complaining about $ 2000.00
of that $2000 subtract $695 for gap insurance which was included in the DAP at no charge to you.

So now we are talking about $1,305 difference

We as consumers as in society need to take responsibility for our decisions not blame someone else....

Well if I knew what a TIBAZplus was then yeah I would take it with me but what in the devil is it ? See Im not a auto dealer just a hard working tax paying person that was sucked into DA plan in 2001 I was paying a car note of 239.00 per month when I bought my truck the payment was 415.00 per month for 66 months. Then I find out that there is a 10,000.00 ballon on the end of it
If I pay that 10000.00 they would put me at paying for a truck that is stickered at 27000.00
that I will pay 39000.00 Now how is that right in any way ?????

I know why Mitsubishi is responsible for Pearl Harbor.......

They manufactured the ZERO!! The very planes that bombed the crap out of Pearl Harbor were manufactured by none other than Mitsubishi motors of Japan....and we buy their cars....

Sounds crazy, right?

But what about Mercedes and BMW? They manufactured tanks and aircraft for Hitler. Should we stop driving those?

And what about Italy? They sided with Hitler in WWII. No more Ferrarris or Lamborghinis. Bummer. In fact, lets boycott pizza and pasta to boot...Haha

Mark C

You know the rest. Don't you love these Biblical quotations? Too bad the same problems always seem to recur. Has nothing changed in 2000 years? Did Honest Dan's Chariot Shoppe offer the Diamond Advantage Deal?

You have to wonder: why is it always the same problems?

Anyway, Get Thyself a Texas Instruments BA2Plus forsooth.

BA = Business Analyst

The TI BA2Plus can solve ANY loan-

YOU: enter interest I/Y, number of months N, principal PV (orig loan) and it will find the payment. Hit: CPT - PMT

If the calculated payment is *lower* than the "quoted payment", you can enter the "quoted payment" and solve for FV (future value, the balloon payment): CPT - FV And on and on.

If you don't like the TI BA2Plus answers- don't buy!

Balloon Loans DO offer lower payments, which all "payment-buyer" customers want. So the solution to everyone's problem is "Don't be a payment buyer!"

So your rules should be
1. Read and understand everything BEFORE you sign
2. Whip out your trusty TI BA2Plus anytime $$ are discussed, and start punching those buttons.
3. Be aware that the salesman/linance manager may become very upset at the sight of your TI BA2Plus , and the early indication is continual squirming.

Lisa

You said some people sued in AL over the DA Plan
I would love to know the lawyers name and #
These people got me into a 27,000.00 truck that in worth 5000.00 now and I owe 14,000.00

They have me paying 10,000.00 balloon that I knew nothing about. I was really excited about only having a year to pay it off then I get this kind of info. I'm SICK and I know I'm not the only one that has sucked into this. We need a Class Action suit

Mitsubishi is responsible for the deaths of untold thousands of American's.

The infamy of Pearl Harbor would not have been possible without Mitsubishi.

Do you know why?

Kevin In Tennessee,

in response to my quote from the bible, you are right. To paraphrase, you are blessed when you can be the head and not the tail. It is a curse to be a slave to the lender. So to everyone, I advise save your money and shop around. Jesus also said, to "let your request be known to God with prayer and supplication, and to be anxious for nothing."

That is how this company got me. I was over anxious for a car, and they suckered me.
But being over anxious for any material thing, will get you into trouble.

This is why I say, save your money and be prepared to walk, catch a ride, or a bus for a while if you have to. And research purchasing a car, as well as the type of car you are trying to purchase, and the dealership where it will come from. Just be an aware consumer so that you can get the best deal.

Boy my response to MMCA sure has gotten a lot of responses. I am really surprised.

I had an ugly experience with City Mitsubishi in FL. Mitsubishi dealers are more willing to use more aggressive unfair practices than most other dealers. It is true that the BBB sides with their members and hides complaints. Also City Mitsubishi is no longer member of BBB. They must have canceled it because they can no longer hide behind the misplaced respect of the BBB. I feel it is better to shop for a late model vehicle at a family run dealership than going to a franchise dealership because they survive on return customers. In order to receive Lexus treatment at new car dealerships, you have to pay the Lexus price. The target for dishonest dealerships are low incomer earners. A lot of car salesmen complain they make very little money. I don't beleive that. If that were the case they would change careers. The government helps fraudelent companies like Enron because they allow them to write off bad debt. If the corporations were unable to write off bad debt due to their fraudelent practices, alot of fraud would be reduced. Consumers should have the same statute of limitations to sue as the creditors to level the field.

I had an ugly experience with City Mitsubishi in FL. Mitsubishi dealers are more willing to use more aggressive unfair practices than most other dealers. It is true that the BBB sides with their members and hides complaints. Also City Mitsubishi is no longer member of BBB. They must have canceled it because they can no longer hide behind the misplaced respect of the BBB. I feel it is better to shop for a late model vehicle at a family run dealership than going to a franchise dealership because they survive on return customers. In order to receive Lexus treatment at new car dealerships, you have to pay the Lexus price. The target for dishonest dealerships are low incomer earners. A lot of car salesmen complain they make very little money. I don't beleive that. If that were the case they would change careers. The government helps fraudelent companies like Enron because they allow them to write off bad debt. If the corporations were unable to write off bad debt due to their fraudelent practices, alot of fraud would be reduced. Consumers should have the same statute of limitations to sue as the creditors to level the field.

I had an ugly experience with City Mitsubishi in FL. Mitsubishi dealers are more willing to use more aggressive unfair practices than most other dealers. It is true that the BBB sides with their members and hides complaints. Also City Mitsubishi is no longer member of BBB. They must have canceled it because they can no longer hide behind the misplaced respect of the BBB. I feel it is better to shop for a late model vehicle at a family run dealership than going to a franchise dealership because they survive on return customers. In order to receive Lexus treatment at new car dealerships, you have to pay the Lexus price. The target for dishonest dealerships are low incomer earners. A lot of car salesmen complain they make very little money. I don't beleive that. If that were the case they would change careers. The government helps fraudelent companies like Enron because they allow them to write off bad debt. If the corporations were unable to write off bad debt due to their fraudelent practices, alot of fraud would be reduced. Consumers should have the same statute of limitations to sue as the creditors to level the field.

I had an ugly experience with City Mitsubishi in FL. Mitsubishi dealers are more willing to use more aggressive unfair practices than most other dealers. It is true that the BBB sides with their members and hides complaints. Also City Mitsubishi is no longer member of BBB. They must have canceled it because they can no longer hide behind the misplaced respect of the BBB. I feel it is better to shop for a late model vehicle at a family run dealership than going to a franchise dealership because they survive on return customers. In order to receive Lexus treatment at new car dealerships, you have to pay the Lexus price. The target for dishonest dealerships are low incomer earners. A lot of car salesmen complain they make very little money. I don't beleive that. If that were the case they would change careers. The government helps fraudelent companies like Enron because they allow them to write off bad debt. If the corporations were unable to write off bad debt due to their fraudelent practices, alot of fraud would be reduced. Consumers should have the same statute of limitations to sue as the creditors to level the field.

Lisa, if you wish to quote scripture try "the borrower is slave to the lender". Maybe you should have paid cash money (as stated in scripture, paraphrased of course) and you would not be in this situation.

Lisa, if you wish to quote scripture try "the borrower is slave to the lender". Maybe you should have paid cash money (as stated in scripture, paraphrased of course) and you would not be in this situation.

Lisa, if you wish to quote scripture try "the borrower is slave to the lender". Maybe you should have paid cash money (as stated in scripture, paraphrased of course) and you would not be in this situation.

Lisa, if you wish to quote scripture try "the borrower is slave to the lender". Maybe you should have paid cash money (as stated in scripture, paraphrased of course) and you would not be in this situation.

We all know Mitsubishi is a ripoff company. That said, I wonder how many of the people that have posted about them fell for that 1 year: no interest, no payment ruse. Did they actually think they were going to get to drive a vehicle for 1 year and NOT pay anything. As the old saying goes, There are no free rides.

All I can say is that for all of the ex-employees and employees of Mitsubishi Motors Credit of America is that, I am not surprised at your responses.

I agree to disagree with you. But I understand how you might take up for your former company. In the bible, even Jesus said, " A House divided against itself, cannot stand." So I understand why you would take up for this company. Most of you are probably crooked too. But that is also just my opinion.

I had to report MMCA to the Better Business Bureau because they failed to let me know that my lease was up, yet continued to accept my payments.

MMCA did return most of my money once I responded through the Better Business Bureau and said that I was not satisfied though. I would like to thank ripoffreport.com because I mentioned what I had learned on this site. I informed BBB that I knew they had a rep for not representing the facts as well about companys that paid dues to their organization. I made it clear that I wanted my complaint published. I also kept responding and did not let things go when they sent me MMCA's responses.

I am happy to say that I have now turned in my old car. I now have a new Toyota Corolla, which looks better than Mirage I had, has more room, and costs less.

To all of the employees of this company, to you I say ...."WHATEVERRRRRRRRRRRR" To everyone
( including ripoffreports.com) still dealing with this cess pool of a company which is rotten to the core and downright crooked, I say " Continue the Revolution!" I will be right there in the trenches with you. Don't stop writting, complaining, and informing others. This is the only way to stop these practices.

Also by the way, I also personally know people who have worked for this company. They have even said that this company is crooked. So I would take very lightly the responses of employees and ex-employees if I were you.

I have to agree with Lisa. I am in the same situation as everyone else complaining about Mitsubishi.

I'm driving a Montero Sport that's worth half the amount owed. The note is extremely high and NO one will allow me to trade the vehicle without at least $10,000.00 to $15,000.00 dollars down. I go into a deep depression each time I pay the note.

I have read most of the complaints regarding Mitsubishi and no one has an answer. I have also filed a complaint with the FTC, however I have a feeling that no one will respond.

Can anyone offer any suggestions??????

As a former F&I manager who dealt daily with MMCA,I thought I would give you a little insight on what went on.
You keep referring to your "lease". Your loan is in fact a balloon note as you did refer.
Your balloon payment(you say$5-10K)at the end of the term will be on your contract to the exact penny.

You're not paying a normal car payment on your
current loan--it's more like a lease payment.The
advantage of your balloon loan as compared to a
lease is you do not have to carry such high insurance as required by MMCA or the other banks
who are still in the leasing business.

At the end of the term you do have 4 options:
1.Stroke a check for the balance.(You will then receive your title)
2.MMCA will guarantee financing on the balance if you made all payments as agreed.The
interest rate is guaranteed to be the same rate
as your balloon contract.If you can do better at
your local bank--then do it.
3.Sell the vehicle on your own.Who knows?If
it was well maintained and low mileage you might
do ok.
4.Trade it in.Any negative equity would apply as it always does.
You mentioned they over charge for their cars.No
they don't.There is an MSRP sticker on all new cars.You want to negotiate from there.
You say the cars are cheap. Ive had two Diamantes, my son drives a Lancer and my daughter an Eclipse. The cars are fine.

The company will not ruin your credit.You will though if you don't make your payments on time.
It seems you had a bad experience with your car salesperson.There's good and bad at every dealership just like there's good and bad cops.

There is really nothing wrong with MMCA.I've dealt with them for years as well as other local banks in the Cleveland area when it comes to getting loans approved.I've seen them approve loans for consumers where the local banks would not, many times.

In the grand scheme of things here,Lisa should'nt
have a bone to pick with MMCA.I think she may be upset with her buying experience which she could
now chaulk up to a learning experience.

I worked for a Mitsubishi dealership for a year and a half. The way you spoke of the company is not all true. Yes they are in dept but what company dosn't go through hard times. The productas are not cheap, but they do maintain well as long as you keep up with service. I have a 96 Galant and I have had no problems with my car at all, I love it. Before you speak for all ask around is all I'm saying.