Auto Palace Complaint - Biggest Bait And Switch Ever!!!

Review by qcmobboss on 2011-01-22
WOODSIDE, NEW YORK -- The mileage was low and the price was good, that's how we were lured into it. But when we are ready to sign the documents, we waited more than one hour for the only loan officer there, who was doing another deal at another place. (we did have an appointment with him.) Later, we were told that he would not be back for a few hours, so we left the place and went back again several hours later. Finally when we were ready to finish the deal, he told us that because of the car was a re-possession, the bank (M&T) who owns the car is adding some closing fees - 12,000 in total, more than 1/2 of the sales price!!NEVER, Ever GO THERE!!!!!!
Comments:1 Replies - Latest reply on 2011-01-22
Posted by leet60 on 2011-01-22:
A bank adding closing fees to a sale sounds very very shady to me - and I believe they were trying to mislead you. When a car is respossessed the finance company/bank will sell it at auction - almost always to a car dealer. The car dealer then OWNS the vehicle and is not subject to the banks whims on the sale. Any shortage on the previous loan is knowd as a "deficiency" and the previous party who financed the car is responsible for this deficiency.

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