Ed Sherling Ford ripoff-over charging interest rates. Buy rate vs sell rate Enterprise Alabama
Even with not so great credit, I purchased a vehical through Ed Sherling Ford in Enterprise AL. After the fact I found this web site, which I discovered a thing called a buy rate vs a sell rate on an auto loan. I was already upset at the rate that I was given on a new vehical. 19.99% vs the 15% I had on the used vehical. I contaced the Finance manager at the dealership and ask him what the buy rate was on my loan. He stated that he was not obligated to give me that information and the some times the dealership has to make a profit somewhere and some times that is through the financing. This statement he made to me was the icing on the cake. Now I know that I was ripped of, I just don't know how bad.
Charles
FT Rucker, Alabama
U.S.A.