Complaint Review: AmeriCredit - Nationwide

Steve: When you read most of these reports, just notice the commonality... 1. Most people don't read what they sign...they ask the salesman what the contract says. When they discover what the contract THEY AGREED TO really says, they blame the dealer! 2. When they fail to make the payments on time (which they agreed to), then the car gets repo'ed, they blame the finance company! 3. They trade in a car they still owe money on, the balance gets rolled into the new loan. They blame the dealer and claim they were ripped off! (That balance was to just dissappear.) This is a GREAT website...great to learn from. Yes, the car business is choking on the stench of its own fraud and deception. But, they have the car buying public figured out perfectly because fraud will only continue as long as there are chumps, suckers and doormats who are willing to reward the con-artists by doing business with them. Read the car ads and see dealer after dealer playing the FALSE PRICE CON-GAME... lying to the public by saying the price of the car is "x" but then at the bottom of the page the REST OF THE PRICE is quoted as a "administration fee" or "dealer fee". How obvious and transparent can a SCAM be??? And yet, watch the chumps, doormats and suckers flock to the con-artist, leading with their chin, as they reward the slime for truly ripping them off and having the audacity to LIE to them even before they go thru the doors. Yep, the cases of fraud and deception in the car business is as thick as stench from an open septic tank and the flocks of stupid people just go in as if their IQ is in double digits! I rest my case!

Karen, You neglected to say what the interest rate on the contract was. Or did you READ the contract? You know, the ACTUAL PAPERWORK you have to SIGN before they give you the car. I am no fan of Amercredit, but I dont see the Ripoff here. They financed a car to you based on the contract you had to sign which should have all the figures laid out on it. You also said you got your Credit Bureau (I am guessing that is some sort of bank) to pay them off in 2006; Why didnt you go through them to start with? (Why would anyone trust a car salesman to find them a deal on anything?!)

To everyone that has had a bad time with AmeriCredit, AMEN! Dumb*** here had his financing all in order so I went to Jerry Seiner here in Utah. I let the LIE-nance manager Jeff Frame talk me into taking the financing through AmeriHell. Well, after reading these posts I am glad that I got turned down through AmeriHell. So thank you all! Now I am recommeding two things to people that are thinking of buying a car (1) Don't use AmeriHell and (2) Go ANYWHERE but Jerry Seiner! Michael

I suspect that you Sir, are a crooked car dealer as well as the ameriCredit gang. I just wanted to let you know that we did get a new car and at 7% interest rate to boot, but what I don't understand is why charged more interest to the lowincome, low credit scores in the first place? All that extra interest just goes to making companies like these, pockets fat, and probably your too. Why don't you read some of the other comments, or have you and responded to them the same way. I have heard of folks with the same scores, that we use to have get great interest deals. You should not judge folks unless you have walked in there shoes, and please get a life!

Quite truthfully, 21% for a sub-600 score is about right. Scores below 600 are very high risk. The rate of default is about 60%. What makes you think a few on time payments should lower your rate? Credit isn't like auto insurance where the risk is spread across the entire pool. If you have a low score, like you do, you pay.