Complaint Review:
Earnhardt's Mr. ED Chandler
Why do they want $3,999 over the MSRP on a run of the mill Ford truck?
My experience with Earnhardt's Mr. Ed's Department is about as common as the others on this board. In June of 2002, I was in need of a new vehicle, because the one that I had I bought from another dealer was a lemon.
Well I went called Earnhardt's Mr. Ed's office and was pre-apporoved for a loan. When I took my paperwork to get the loan finalized, i had to jump through so many hoops to get the loan. When everything was said and done the loan that I had gotten actually turned out to have different stipulations.
The origional loan that I had gotten and had signed for was for three years at 23% interest. Now this car was not an SUV, but a 2001 Chevy Metro with 23,000 miles. Also the origional loan payments were to have been $250.00 per month.
But, I got a call from the Mr. Ed Department and that they needed me to go into the store and sign some new documents, because the loan had changed. The loan went from 23% which is high to 27.5% which is outragious. My payments when up to, from the origionally agreed to $250.00 to over $325.00 per month, for a Chevy Metro, not to mention that my term changed from three years to two. This happend right after I signed the loan documents.
If You want to get ripped off go to Earnhardt's if not go to a more reputable dealer, and the sad thing is that my family knows the Earnhardts, and I know never to deal with friends in business dealings
Robert
Mesa, Arizona
U.S.A.
11 Updates & Rebuttals
Toyotas never die
Edgewater,Florida,
USA
Why we make payments in the first place.
#12Consumer Comment
Tue, May 30, 2017
Although overall, this customer is spending less money. There is most likely a reason they agreed to a certain monthly payment. I pay $300/month on my Camry, and if someone were to suddenly tell me "hey, you must pay $425/month now." I could not do that.
I'd be dipping into my savings each month just to make my car payment (savings being a luxury that not every car buyer has). Although the final price is lower, you certainly wouldn't be saving any money if you ended up getting your car repo'd because you couldn't afford your higher payments that were not the payments you signed up for.
Perhaps if the customer had asked their sales person to find them a way to pay off the car faster and for less money total, then this would be a happy story. In this case, however, the customer wanted nothing to do with this. That is shady business practice if I have ever seen it.
Raymond
Highland,California,
U.S.A.
thats what happends when your credit is SHOT!!
#12Consumer Suggestion
Tue, July 22, 2003
let me guess,,,,, you went to other 20 dealers and they all said no, they cant finance you, because of your credit, finally you find some one can help you and build your credit, you just Pi$$ on them. This what you will do, you keep the current payment on the car, you dont want to do the same mistake that you did before and let you credit go to hell, you keep a current payment on the car for about 12-18 months, after that you trade it in, and you get a newer car for less rate. take the car and say thank you for the second chance.
I am not trying to be mean, I am just being honest.....
Scott
Phoenix,Arizona,
U.S.A.
Mr. Thorn--You Know Not What You Speaketh!
#12Consumer Comment
Mon, July 14, 2003
Mr. Thorn,
I really appreiciate your thoughtful, reasoned, articulate responses on this web-site. The sentence structure, verbage selection, and modifier usage identifies your intellect all to accuratly. But I regret to inform you that you really don't have a clue of what you are talking about. Innuendos make wonderful emotionally charge epithets (n:a characterizing and often abusive word or phrase, The Merriam Webster Dictionary), but are short on facts and full of half truths (which make them full lies). I am sure your sole motivation is only to provide opinons, as inaccrate as they may be, in order to "help" those people who have been wronged. In that same spirit, I would like to offer to you the opportunity to apologize...just to be fair.
I do not work in the industry, I do not work in the car business, I have never been a sales manager for a car dealership, I have never work as a car saleman. I have been on the lot in question and they have literally hundred's of cars on the lot. It is possible that a few stickers may not have been placed on the windows. And it is also possible that few may even be...(agasht!)...wrong. But if you think it is a great conspiracy to dupe and cheat the people, then file a complaint with Terry Goddard, the Arizona AG. He's a liberal democrat, along with the govenor, and I am sure he would love to take down the Earnhardts. If all you have is your opinon, then you are nothing but a wind bag...bless your heart!
The Great Thorn - Rip-off Report Consumer Advocate
Bayville,Arizona,
U.S.A.
Scott I think YOU are a "LOT SHARK" you seem to defend the car dealers!
#12Consumer Suggestion
Sat, July 12, 2003
Hey Scott I am willing to bet that when Earnhardt's "F&I Clown" had Robert sign the purchase contract, that did NOT have the a banks name on it. This way the "F&I Clown" could make some "Backend Gross" Want me to explain it to you?
Car dealer's F&I clown might have had the buyer agree to 27.5% and then they "Fired a Shot Gun" to Robert's Credit and got a "Buy Rate"much lower then the 27.5%.
Car dealers love to get the buyers to agree to a higher rate then car buyer signs all documentation and takes their new "Over Priced Depreciating Sled" home. "OPDS"
Then the dealer's F&I clown looks for a bank that will approve a much lower rate, say a "But Rate" of 23,5% and then the "F&I Clown" scoops the difference for the dealership. Scott if you work in the auto industry, you know that what I am saying is TRUE!
By the way scott, would you like me to contact a Rip Off Report advocate in AZ and have then go to Earnhardt and take some digital pictures of Earnhardt's MSRP's ? I am told they ask way over the MSRP? Don't tell me that they have "Market Adjustment stickers!"
Want me to get one of our advocates in AZ to go to Earnhardt and get some photos so we can all see what they have next to the auto manufactures MSRP's? I am willing to bet that I will not like what we find.
Give me a yes, and I will have one of our fellow advocates get some good photo's to post. The ball is in your court! Give me a YES and watch!
Mike
Radford,Virginia,
U.S.A.
Scott is right. You do have a better deal now.
#12Consumer Suggestion
Fri, July 11, 2003
Not because of the shorter term and certainly not because of the higher APR, but because the new loan is for a lower amount financed. If you didn't pay any more money to the dealer after the first deal, then he's done you a favor by reducing the price of the car by about $500.
Original loan:
Amount financed = $6458 @ 23% APR
36 payments of $250: total of payments = $9000
To pay off in 2 years: 24 payments of $338: total $8117
New loan:
Amount financed = $5948 @ 27.5% APR
24 payments of $325: total of payments = $7800
It's still a rip-off to have a car loan with APR above 20%. Shop for a refinance immediately at credit unions and banks. Unless your credit rating is really really bad, you should readily get a better rate. And it will be worth doing. For example, borrowing the $5948 for 24 months at 14% APR would have a payment of about $286 per month (saving $39 per month, almost enough for basic cable these days) and a total of payments of $6854, saving $946 over the term of the loan. If you pay $325 per month on the 14% loan, it would be paid off 3 months early, saving an additional $124 in total of payments. Even if you still have payment mentality, let the total cost be damned, 3 years at 14% would be $204 per month, and still $482 lower total of payments than what you're about to pay now.
Realize that finaincing is something that car dealers SELL for a PROFIT, like everything else. Dealers want you to think it is a menial task they do begrudgingly in order to facilitate the sale. Actually they can make as much profit on the commission (kickback) from rip-off financing that they can get you to accept as they did on the price of the car. Always shop for financing yourself before going to a dealer. Know what you really qualify for on the open market. Only take what the dealer offers if it is a better deal.
Tom
Vernon,Connecticut,
U.S.A.
That sucks! Live and learn I guess. But maybe this will help in the future.
#12Consumer Suggestion
Fri, July 11, 2003
If it's possible, sell the car and get out, trade in's are a dealers profit.
With that money buy an inexpensive car through a private seller, or if you must, a dealer.
THINGS I'VE LEARNED from Consumer Reports and web sites like CarBuyingTips.com:
1) ALWAYS know your credit rating before you walk in to buy. The dealer might offer you a great rate, but your credit rating is what the loan is based on. Many, many times they will let you drive off the lot, and two weeks later inform you the only financing they could find is at a much higher rate, and you owe them more money. Now you're stuck. If you didn't take the car until the financing was completly approved, you could always say no thanks and keep driving the old car. If you put a deposit on your credit card, it can be refunded. Cash-gone. Check-gone.
2) Go to the library and look for the Consumers Reports April issue. It will show you cars that are quality...based on price, and the ones to stay away from. Very handy. Now you know what you can afford.
3) Consumer Reports and AAA can give you a print out of a car you're interested in with a fair offer to the seller, new or used. Although they charge you around $12,00 a copy, this can be an asset when bargaining, and save you money. If they disagree, show them the printout, and if you have to-walk away.
4) Again, I can't stress this enough, CarBuyingTips.com is so packed with information, you will be armed to the teeth. You'll never get ripped off again. Huge site, but worth the time.
I would honestly suggest you sell the car and look for a new one. You might not get enough to cover the cost of the car, but think of the $10,000.00 extra in finance charges you will pay for the length of the loan. Cut your losses.
Even with poor credit your bank could probably do better on interest rates. Talk to them. They want your money, but it can't be worse than the dealerships.
If you're lucky, The Great Thorn will help you out too. He knows his stuff.
GOOD LUCK!!
Scott
Phoenix,Arizona,
U.S.A.
Were you aware that you saved $500?
#12Consumer Comment
Thu, July 10, 2003
Do the clculations. Under the parameters you set forth. a 2 year loan at 27.5% with a payment of $325 verses a 3 year loan at 23% and a payment of $250 saves you about $500. It seems to me that Earnhardt did you a favor the second time around.
Scott
Phoenix,Arizona,
U.S.A.
Were you aware that you saved $500?
#12Consumer Comment
Thu, July 10, 2003
Do the clculations. Under the parameters you set forth. a 2 year loan at 27.5% with a payment of $325 verses a 3 year loan at 23% and a payment of $250 saves you about $500. It seems to me that Earnhardt did you a favor the second time around.
Scott
Phoenix,Arizona,
U.S.A.
Were you aware that you saved $500?
#12Consumer Comment
Thu, July 10, 2003
Do the clculations. Under the parameters you set forth. a 2 year loan at 27.5% with a payment of $325 verses a 3 year loan at 23% and a payment of $250 saves you about $500. It seems to me that Earnhardt did you a favor the second time around.
Scott
Phoenix,Arizona,
U.S.A.
Were you aware that you saved $500?
#12Consumer Comment
Thu, July 10, 2003
Do the clculations. Under the parameters you set forth. a 2 year loan at 27.5% with a payment of $325 verses a 3 year loan at 23% and a payment of $250 saves you about $500. It seems to me that Earnhardt did you a favor the second time around.
RJ
Camden,Arkansas,
U.S.A.
Did They Twist Your Arm To Sign?
#12Consumer Comment
Thu, July 10, 2003
"The loan went from 23% which is high to 27.5% which is outragious."
Call the cops! Surely, with this "outragious" rate they must have FORCED you to sign. You would not have been so stupid as to do that willingly. Right?
"If You want to get ripped off go to Earnhardt's if not go to a more reputable dealer,.."
And when you finally realized that they were not reputable(even 23% should have been a really BIG hint), you didn't say goodby because??????
It's interesting that people who make bad deals NEVER accept responsibility for being so very foolish.
You can't get ripped unless they are smarter than you. And I'd guess this time they were at least 27.5% smarter.