GMAC, J.Brown phone harassment to pay on a car I voluntary retured to the dealer even ater selling it Troy Michigan
I purchased a car fron GM dealer with a trade in. they would not finace the car unless they could baloon the price, saying it was the amount left on the trade in.
after 2 years of payments and never missed one, I decided we couldn't afford the car anymore and voluntary returned it. I had paid $5,000.00 on the
car in two years.
Now I get this letter saying they sold the car for $12,000.00 and I still owe them $12,000.00. The car is only worth $12,000.00 and the Dealership baloon the price to $24,000.00 to get the load approved from GMAc. Now the phone calls start wanting me to set up payment arrangments on $12,000.00. Who are the kidding ?
GMAC has allready got $17,000.00 for a $12,000.00 car and still want more. This has got to be the biggest ripoff of the century. I believe I will need a lawyer to settle this dispute.
Larry d
Conway, South Carolina
U.S.A.
1 Updates & Rebuttals
J G Shrugged
Austin,Texas,
U.S.A.
Where's the ripoff?
#2Consumer Suggestion
Thu, July 31, 2008
You bought a new car when you still owed on your last one; they offered to pay off your old car but the value wasn't enough to cover the loan, so they had to include the payoff amount on your new loan, so you were already "upside-down" when you bought the car, even before you drove off the lot.
But after 2 years YOU decided that you couldn't afford it, so you returned it to them and claim that the fact that you still owe money is a ripoff?