i applied for a loan from a private person for an auto i found on Cars.com. once i located the car i wanted i was prompted to try for an auto loan at Roadloans.com. I applied and was approved. I just a few months ago received my credit score of 833 from Trans Union. However, when i got results back from my load application i was told i would have to pay 18% becuase my score was 588. Then after filing a complaint with Experian whom they said they used, i then went to proceed to get the loan which i would refi later just to get the car i wanted, and was referred to Nyle Maxwell Ford in Austin Tx to buy a new car. When i complained about getting calls everyday from Nyles Maxwell than i wanted a purchased used from a private person i was told i was ineligible. WTF? i can but a new car at 18 % for over 17000. but not a used car for 6000.

Ripoff Ripoff Ripoff , shame on you Cars.com Roadloans.com and Nyle Maxwell ford for using them just to get referrals.

Rob

Click Here to read other Ripoff Reports on roadloans.com

5 Updates & Rebuttals

rob k

austin,
Texas,

Oooops i forgot one thing

#2Author of original report

Sat, September 21, 2013

Dear person writing rebuttals on behalf of the creepy business's listed in my complaint, Roadloans.com Nyles Maxwell Ford, and the others..........In the interest of honesty, i did forget one thing the lovely polite representative from Roadloans.com said on the phone:

When i asked her the question, why dont you just switch my loan application back to the loan type i applied for from a private seller and nnot a dealership, she said the reason i was switched to a new car dealership loan was that my credit score didnt qualify me for a used car loan of $6,000. only for a new car loan of almost $17,000. lol, ha ha ha, lol, lmao, haha lol hahahahahahahaha.

LOL

haha Roadloans.com Masters of Bait and Switch

Rob

rob k

austin,
Texas,

Bait and Switch Facts are Facts

#3Author of original report

Sat, September 21, 2013

Dear "Customer"

Since i was the applicant i think im in the best position to state what i applied for not U.

Again,

I found a used car on cars.com.

On the same website i was offered financing through Roadloans.com THE BAIT

I applied for a loan for the purchase of a used car from a private selle (NOT a Dealership). I was approved for the loan.

When i was directed to the approval page it referred me to Nyles Maxwell Dealership which i did not choose to do.

THE SWITCH.

I was told i qualified for a new car purchase of $16,000.+ but not for a used car purchase of $6,000. THE SCAM

like i said Facts are Facts, and not sure what you call Bait and Switch but its what i call it.

BTW i did call Roadloans.com operator who seemed confounded why i could get a big fat loan at 18% but not a little bity one. i could explain it, a scammy predatory internet site who diverts people into big loans at high interest rates through Dealerships. Follow the money and see whose getting commissions and kickbacks froma single high end car loan? Maybe Carloans.com maybe Roadloans.com maybe the dealership. Guess theres not enough money to go around in smaller loans. Sick people who worship at the altar of a dollar by screwing consumers.

thanks

Rob,

Robert

Irvine,
California,

No matter how many times you restate it..

#4Consumer Comment

Sat, September 21, 2013

...it doesn't make it so.

You were approved for a new loan..not a used car loan. Those are two different things under two different terms.

So did you ever call other banks?

rob k

austin,
Texas,

Restated, Bait n Switch

#5Author of original report

Fri, September 20, 2013

Dear "consumer",

Why would any "consumer" defend, in multiple paragraphs, the actions of creepy bait n switch wanna be lenders.

My transunion score I

is in letter for provided me by a lender.

When I said private I was referring to a private seller of an auto not a lender.

When I said bait n switch, thats what Iit was. I applied, clearly for a purchase from a private seller not a new car dealer.

Please stop queustioning my facts and defending the indefensible actions of scammers. Your Iinspiring me to file further complaints.

Rob

Robert

Irvine,
California,

Not Bait and Switch..

#6Consumer Comment

Fri, September 20, 2013

First of all a TransUnion Score range is 309-839. Since less than probably 1% of the people fall into a score this high this makes your score extreamly questionable. These scores are from people who have a spotless long term credit report. That is not a single late payment, several different lines of credit, not anywhere near maxing out any of your credit cards, and having a multi-decade track record of credit. Because if you truly did have that score, there is no reason you couldn't walk into any bank and get a rate under 2%

As for their application. Even if you applied you weren't forced to take the loan. You could have gone back to your "private funding" to obtain the actual loan if they were better rates. I just hope that the "private funding" didn't require you to pay any fees up front for "insurance" or other "guarantees' especially by Western Union. Because if they did..there was NO loan and you are lucky you didn't go through with it because you would have been ripped off.

Also, there is no bait and switch in not allowing you to purchase a used car with the same loan. You got a quote of a rate on a new car and EVERY bank treats new cars differently than used cars and they treat both differently than a refinance. Don't believe me, go ahead and call up any bank you want and ask them if they have different rates for New, Used, and Refinance loans.

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