BUYING A CAR. DON'T LET THIS HAPPEN TO YOU THIS TAX SEASON.
NC Attorney General & DOJ Resolves Claims with BHPH Dealer
Detailed in the complaint, Saadeh purchased a 2001 BMW for $7,610. The suggested retail value of the vehicle was $10,625 but Saadeh sold it for $12,900. Even though the consumer’s only income at the time was unemployment payments, Saadeh approved financing. The customer paid $2,500 down and then made bi-weekly payments of $200.
With an interest rate of 29 percent, the consumer ended up paying a total $20,013.42 for the vehicle – approximately 188 percent of its suggested retail value.
When consumers could not keep up with the payments on their vehicle installment contract, the lawsuit alleged that Saadeh repossessed vehicles “without reasonable” notice.
“In some instances, the dealerships repossessed cars even though the owners were not behind on their loan payments,” state and federal officials said. “Saadeh sometimes used GPS devices installed without the customers’ consent to locate and repossess cars.”
“In some instances, the dealerships repossessed cars even though the owners were not behind on their loan payments,” state and federal officials said. “Saadeh sometimes used GPS devices installed without the customers’ consent to locate and repossess cars.”
To prevent what state and federal officials believe to be unfair practices from happening to you in the future and this tax season contact:
DAG Auto Brokers.(844) 509-4752
Comment: Auto Broker Willie Burke
In today’s auto market the consumer who utilizes Buy Here Pay Here Dealership has options.
1. Contact the Better Business Bureau and inquire about the dealership.
2. Request information on their interest rates.
3. How many months will they finance the vehicle.
4. Do they report payments to the Credit Bureau?
5. Contact the Credit Bureaus to inquire about the Dealership membership with the bureau.
6. This would be a great time to begin to rebuild your credit.
7. Consult with DAG Auto Brokers Department. (334) 467-3018