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LEAP AUTO LOANS RIPOFF RIP=OFF SCAM SCAMMERS FRAUDULENT MISLEADING SAN DIEGO, California
This company master's the ripoff scam of the year. They sell themselves as an auto loan alternative for people in risk of loosing their vehicles by repossession. They promise to negotiate with your financing company an excellent deal for you and save your car and save you money by buying out the loan for less. Then they have you fill out forms with your personal information and your car information as well to start the process. If my lender accept their offer,Then I would have to lease my vehicle from them and pay a $500 deposit/down payment, lease fees, a fee of $1000 required for GPS system to locate the vehicle in case of default.
ARE YOU KIDDING ME???!!!!!
After going through the whole process they told me at the very end that
my payment would be $30 dollars more than it currently was and instead of
owning the car when I was done, I would be leasing it from them the
whole time. At the end of the payments I would still owe them like 4
thousand dollars of I wanted my car. We are talking about a 2008 Toyota Matrix with only 18K miles on it, excellent conditions.
I owed close to 14 thousand and
they were gonna pay $11 thousand for my car. My payments to my
bank were $435 and I had 3 years left before I could pay my car off.
These scammers wanted me to pay them $465 for 5 more years and they were
only paying $11 thousand (by my calculations those payments are over
$26 thousand) and THEN I was going to have to pay them $4 thousand to
buy the car out after 5 years. So the entire loan they wanted to give me
was for close to $30 thousand for what they were going to pay $11
thousand which means they wanted to make $19 thousand dollars off me
because I was in a bad situation. Those scammers at Leap Auto Loans NEVER told me that so the whole loan
would have been way worse than just losing my car and starting over.
Do
not be fooled by these guys as they are WORSE than your lender.