- Report: #826280
Complaint Review: Friendly Ford Inc. - Internet
Reported By:
Friendly Ford Lawsuit -
Springfield, Missouri, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Friendly Ford Inc.
3241 South Glenstone 65804 Internet, United States of America
Phone:
417-883-4330
Web:
www.friendlyford.net
Categories:
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Friendly Ford, Inc. Committed a crime to Rip Me Off! Desperate! Going Down! Join the Lawsuit! Don't buy from these predators! Internet
Friendly Ford's F&I Director used illegal sales tactics to force me to purchase Warranty, GAP, and Wheel and Tire Protection. Conversation recorded.
I am going to express other concerns as well. I'll get to the illegal business practices in just a second. First, Friendly Ford charged me $2,489.33 for a warranty, which is outright thievery in my opinion. They also charged me $750.00 for GAP protection, which again, is out of line in my opinion. They charged me $31,197.50 for a 2010 Ford Fusion SEL that has a MSRP of only $27,720.00.
The most alarming thing about the transaction is that the F&I Director required me to purchase the Warranty, GAP, and Tire and Wheel policies. If I didn't, he said, (and showed me on an illegitimate "menu") I'd be forced to pay 12%+ interest. He told me I could either pay for interest or the products. I asked him specifically if the rate would be increased to 12%+ if I didn't purchase the products and he said "Yes." Since I purchased the products, I received 5.60%. All of this is recorded on a tape recorder that I had in my pocket when I bought the car.
This practice, I found out after much research and after speaking with my attorney (my brother, thank God) is illegal in Missouri and is a violation of certain Federal statutes. First, a dealership cannot "require" you to purchase warranty/insurance products. Moreover, it is a violation of law to offer a discount in the interest rate in exchange for the purchase of warranty/insurance products.
I'm confident that the F&I Director knew that he was in violation of laws, as he had me sign two (2) different "menus." One reflected the interest rate increase without the products and a 5.60% interest rate with the products. The other one simply reflected different terms (length of the loan and payment amounts) with the 5.60% interest rate. I am confident that the first menu was trashed and this guy knew exactly what he was doing.
To my pleasant surprise, I recently found out that Mike, the F&I Director for Friendly Ford is currently being investigated. It is very possible that he will be facing criminal charges. YES!!!
I am going to express other concerns as well. I'll get to the illegal business practices in just a second. First, Friendly Ford charged me $2,489.33 for a warranty, which is outright thievery in my opinion. They also charged me $750.00 for GAP protection, which again, is out of line in my opinion. They charged me $31,197.50 for a 2010 Ford Fusion SEL that has a MSRP of only $27,720.00.
The most alarming thing about the transaction is that the F&I Director required me to purchase the Warranty, GAP, and Tire and Wheel policies. If I didn't, he said, (and showed me on an illegitimate "menu") I'd be forced to pay 12%+ interest. He told me I could either pay for interest or the products. I asked him specifically if the rate would be increased to 12%+ if I didn't purchase the products and he said "Yes." Since I purchased the products, I received 5.60%. All of this is recorded on a tape recorder that I had in my pocket when I bought the car.
This practice, I found out after much research and after speaking with my attorney (my brother, thank God) is illegal in Missouri and is a violation of certain Federal statutes. First, a dealership cannot "require" you to purchase warranty/insurance products. Moreover, it is a violation of law to offer a discount in the interest rate in exchange for the purchase of warranty/insurance products.
I'm confident that the F&I Director knew that he was in violation of laws, as he had me sign two (2) different "menus." One reflected the interest rate increase without the products and a 5.60% interest rate with the products. The other one simply reflected different terms (length of the loan and payment amounts) with the 5.60% interest rate. I am confident that the first menu was trashed and this guy knew exactly what he was doing.
To my pleasant surprise, I recently found out that Mike, the F&I Director for Friendly Ford is currently being investigated. It is very possible that he will be facing criminal charges. YES!!!
3 Updates & Rebuttals
Steve
USASounds like the buyer found out it was illegal AFTER the deal
#2Consumer Comment
Mon, January 23, 2012
If what the OP said was correct, they should definitely prosecute the guy, and the OP should sue the dealership (they have deeper pockets than the F&I guy, and they are responsible for their employees' actions).
F&I guys are such scumbags that I would not be surprised if the OP is telling the truth. But I have one question: why were you recording the conversation in the first place? Sounds fishy.
Jim
Orlando,Florida,
USA
Since You Knew
#3Consumer Comment
Sun, January 22, 2012
Since you already knew requiring the buyer to purchase a warranty and/or GAP insurance was illegal, my very simple question is why did you go thru with this deal? I mean, you are so skilled in Consumer Protection law, why did you not point this out and then WALK OUT instead of playing doormat.
coast
USAquestion
#4Consumer Comment
Sun, January 22, 2012
Did they also force you to pay $3500 above MSRP?
