Americredit Complaint - Americredit & GM team up to Fleece the poor - auto

auto - Complaint

Review by my66charger on 2010-07-23

So the welfare has been received, General Motors are pumping themselves up and realizing they need the poor to continue the bail out. Let me explaine, recently GM announced it will now have a relationship with a ” Americredit” that has been in the bussiness of offering non prime and subprime auto loans. Unfortunatley, these loans must be offered because one must ask himself. who else will General Motors and Americredit prey upon, surly not the wealthy, No the desperate! Let me give an example of this. I purchased a GM car it fell apart a 1996 Lumina, a real piece of junk, the manifold wore thin and dumped water in the crank case, right at 36000 miles, Notice the mileage, this is when the dealer warranty expires, Unknowingly, my credit was ran through 15 different banks, now I have 15 inquiries killing my credit score and forcing me into that vehicle. Guess the only people that will finance the car is Americredit, who by the way can no longer make loans in California because illeagal lending practices, The interest rate is like 24.99 % percent. So I have an outrageous payment of $430 per MO. And Americredit Know's exactly what they are doing. General motors also is now going to continue making subprime loans on somone who has decent credit. So I make all payments on time, all but three payments, because the accounting practices at Americredit cause you to get behind on your payments claiming they don’t get to their p. o. box but on fixed dates. I finally traded the car in blowing smoke out the kazoo because the cost to fix the Lemon was well over $2200.00 dollars. And even after the Americredit loan is payed in full. Account closed and payed those three lates on my credit report are reported 16/30 day lates one month 5/30 day lates another month then 6/30 day lates again and again all the while this account is showed payed and closed. I contact the credit reporting agencies and to my surprise they start the blame game claiming one or the other are reporting it inccorectly. The whole experience with general Motors and Americredit turned into the worst decision I ever made, So Please Beware who you do business with. Surely steer clear of the Welfare recipients and their thugs who are out to jamm you and your family up. See General Motors and Americredit have these people called CEO’s who are in contact with their congressional friends making back door deals attempting to fleece you out of your good credit standing and your hard earned money. Thanks for listening I hope my story makes you think about your next