Waldorf Ford blatantly lies about financing, shady business practices, and worse dirty ripoff liars Waldorf Maryland
One week after my husband and I purchased a used vehicle, Waldorf Ford calls and says that the financing fell through. They attempt to get us to put money down, but we decline and tell them to honor our original contract or we would return the vehicle. Finally they say they have new financing and the monthly payment will only increase $4/mo.
In the meantime we receive three letters of application denial from various lenders - each stating that the collateral was insufficient and quoting finance amounts far less than our original contract. It appears that Waldorf Ford never had any intention of honoring our original contract.
The finance manager Eddie tries to say that our credit is the issue and points out some blemishes on our report. When I counter with the fact that one of the lenders told me it was an issue of trying to financing too much money he says that is not what the V.P. told him. The new contract is $1,400 less to finance, but the interest rate increases 2.5% - supposedly because of our credit. We know exactly what our credit is and our insulted that they pushed it back on us because of their incompetence.
We signed the second contract but are still confused about the whole financing practice and stupidity at Waldor Ford. This appears to be a new scheme to get more money out of unknowing consumers - although legal it is a very poor and dishonest business practice. If I had known that the contract was not approved I would not have signed on the dotted line, but waited until they had one approved. They strong arm the consumer and push the blame on them, when it isn't true.
It is completely disgusting that auto dealerships have stooped to this level of drawing up contracts that can't be honored and then pushing the blame onto the consumer - trying to get more money out of them. Just when you thought you were safe - they think of some new way to screw you!
Not only is this poor business practice, it is stupid. Obviously they have not earned a repeat customer or a customer for even service - they will never see another penny of mine. I will be removing the Waldorf Ford sticker from my vehicle - no free publicity. But I will tell everyone I can every chance I get about the poor business practices at Waldorf Ford.
Heather
Waldorf, Maryland
U.S.A.
4 Updates & Rebuttals
Robert
Annapolis,Maryland,
U.S.A.
Heather, they charged too much.
#5Consumer Comment
Mon, August 04, 2003
The most plausible reason for the "new" contract, was that the financed amount was much higher than the loan value established for your particular model. You probabally paid too much. I say this because most likely the 1400.00 less you financed on the second contract came out of the profit made on the deal, then to recoup the lost profit, they increased the finance charge. All this is moot of course if you had a trade-in with a balance.
Anyway, the finance guy sure could have handled the situation better. These kind of things happen everyday in the car business.
The Great Thorn - Rip-off Report Consumer Advocate
Bayville,New York,
U.S.A.
Heather this will help you expose your sucky car dealer.
#5Consumer Suggestion
Wed, July 30, 2003
Heather print off a few "Printer Friendly Versions" of your Rip Off Report and send it to all of the following.
Maryland State Offices Chief
Consumer Protection Division
Office of the Attorney General
200 Saint Paul Place
16th Floor
Baltimore, MD 21202-2021
410-528-8662 (consumer complaint hotline)
410-576-6550 (consumer information)
410-528-1840 (health advocacy unit)
TDD: 410-576-6372 (Maryland only)
Fax: 410-576-7040
E-mail: consumer@oag.state.md.us
Web site: www.oag.state.md.us/consumer
Manager Business Licensing & Consumer Service
Motor Vehicle Administration
6601 Ritchie Highway, NE
Glen Burnie, MD 21062
410-768-7248
Fax: 410-768-7602
Regional Offices Administrator
Maryland Attorney Generals' Office
Consumer Protection Division
138 East Antietam St, Ste 210
Hagerstown, MD 21740-5684
301-791-4780
410-576-6372
Fax: 301-791-7178
Consumer Affairs Specialist
Eastern Shore Branch Office
Consumer Protection Division
Office of the Attorney General
201 Baptist St.
Suite 30
Salisbury, MD 21801-4976
410-543-6620
Fax: 410-543-6642
Web site: www.oag.state.md.us
County Offices Administrator
Howard County Office of Consumer Affairs
6751 Columbia Gateway Dr.
Columbia, MD 21046
410-313-6420
Fax: 410-313-6453
E-mail: shannan@co.h*o.md.us
Division Chief Montgomery County Division of Consumer Affairs
100 Maryland Ave. Suite 330
Rockville, MD 20850
240-777-3636
TDD: 240-777-3679
Fax: 240-777-3768
Web site: www.co.mo.md.us/hca
Tom
Garden Grove,California,
U.S.A.
Lets see if I can help you understand.
#5Consumer Comment
Tue, July 29, 2003
Your buying from the dealer not the bank right??? The dealer has to structure your deal to a perfect deal set up by the bank. Here is a perfect deal to the bank. Car is 33,000 you put 11,000 down and payments will be 440 a month. This is a perfect deal - heres the problem.
Most people want to put about 500-1,000 down well this tips the scale to make your payments 640 a month with 1,000 down you see how its unbalance. The bank WANTS 1/3 down.
All a dealer can do is take your deal and then try to get it bought by the bank. Well the bank wants a perfect deal but you gave them a lopsided one and so they need to decide if they really want to take a chance. Some banks say yes and other say well get 2,500 more as down payments and we will take it. So what does the dealer do pay out of pocket of course nto tey would rather have the car back. It takes about 3 days to get a deal bought by a bank and longer if you buy on a weekend.
OH and about the home loan thing.. its easier to get a home loan then a car loan BTW... WHY you ask?
1. A home appreciates and a car Depreciates.
2. If you default on the loan the bank can always resell the house for more, but cars for less...
3. A car can drive out of the country and dissapear. A house cannot.
These are 3 big reasons why house loans are easier... so that means jack squat that you got approved for a home loan of 200,000. You really think the dealer would not sell you the car if it was possible to do it. My dealer will go to alomost any length to sell the cars. Im sure they are the same.
Dale & April
Waldorf,Maryland,
U.S.A.
I know how you feel!
#5Consumer Suggestion
Mon, July 28, 2003
As you can see by our report on Waldorf Ford & Dodge, we had the "service" problems. Yet, we know exactly how you feel. We finally got a meeting to turn our car in for a new Taurus. They came in with the contract and asked how much we would be putting down. Mind you, 5 minutes earlier we were told that our credit report was fine and had NO problems. We tell them we were giving them the piece of crap back for this car and therefor would not be forking over anything else. All of a sudden this wasn't good enough. We were told that our credit was poor and no one would finance us unless we put about $2500 down.
Funny thing is, we were just approved for a home loan of $200,000, yet Ford was trying to tell us our report was bad. We already knew exactly what was listed and knew none of which was a problem or counted against us. Then were readdy to wlak out, and we're told to "Just put at least $100 down for good faith." That statement told us they were trying to B.S. us big time. SO we walked out.
Since then, we have received numerous letters dening us. Their reason's: "Unknown" that's nice, so what does "Unknown" mean. We also have tryed to take the car in for repairs and maintence and been denied. Waldorf Ford refuses to go by the warranty we pay for. Their excuse, "You slammed us all over the internet." Nice, huh?
By the way, please tell me your financing isn't with Ford Credit? If so, what your bills closely. They will tell you that your payment came in a day past the due date and place a late fee on your account. I don't know what they're trying to pull, but it doesn't take three weeks for them to receive a payment via mail. OH, you'll also see little fees pooping up here and there, and ironically, for the same amount as a late fee. When you call them to dispute it, they tell you to pay the fee and it will be credited to your account. Needless to say, they owe us over $160 in credits from a year ago.
As far a your contract goes. They really did a number on you. You see, because you signed a contract and removed the vehicle into your possesion, Waldorf Ford could not and can not make you sign a "New" contract for that vehicle. If I were you, I would notify the Attorney General about their bussiness practices. And, yes, this part of you're dealings with them was illegal on Ford's part.
Good Luck!