Nissan USA Nissa Motor Acceptance corporation Bad Company to buy cars Dalls Nationwide
I purchased Nissan new Altima 2015 car in November 2014 under my 2 daughter’s name who has no credit at all. Both of my daughters are first time car buyer. Total price was $25,650.00 for this car. Just because both are first time car buy I made a down payment of $20,000.00 which is close o 80%. I also purchased extended warranty for $2,605.00. First rip of Nissan charged and approved the small amount of loan at an interest rate of 15.5%. Second rip off is according to Nissan web site there is no finance charge extended warranty but again we have been charged 15.5% interest rate.
I took this over attorney generals office is Tennessee since this where Nissan head office is. I did not get any response so on January 14, 2015 I called attorney generals office and left a voice mail message. A representative called me from attorney generals office. I was informed this office has no jurisdiction. I was also explained the right office to deal within this was Chicago office who has jurisdiction. However Tennessee office is still hoping to a response by January 29. If I would have not called to the Tennessee attorney general’s office I would have been sitting in illusion. After hearing this I filed another complain on January 14, 2015 for Consumer Financial Protection Bureau.
1 Updates & Rebuttals
Robert
Irvine,California,
Not a good teacher
#2Consumer Comment
Fri, January 16, 2015
If you are trying to educate your two daughters about car buying and financing you are doing a very bad job, and the only "RipOff" appears to be your teaching.
First Nissan may have approved an Interest rate of 15.5%...but you are under NO obligation to accept it. You could have negotiated a better rate, or if they won't give you a rate you think you should get...go somewhere else.
As for this No Interest Extended Warranty. In looking at Nissan's site I could not find anything about an "Extended Warranty" for 0% Interest. But I did see what they called Vehicle Service Contracts or Prepaid Maintence which had NOTHING to do with actual car repairs. They were also only 0% for 12 or 18 months.
Now since you appear to need as much of a learning experience of your daughters. If you put your Daughter(s) on the Car you also put them on the loan. Since they have no credit history they are considred a HIGH RISK. Where high risk = high interest. Yes even a $2500(or so) loan on a 25K vehicle is a risk. You want better rates in the future....stay on top of them to make sure that they make EVERY payment on-time.