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False Advertisement


Reid
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Hi Everyone,

Recently, I heard an ad on the radio for a car dealership that stated all credit types accepted you know the drill, good credit, bad credit, no credit, bk's, repos, no problem, no money down, no problem...etc. I even called the dealership and spoke with the mgr told him the range of my scores and he assured me that it could be done! Supposedly they had over 200 new and used vehicles for sale (I pass this place often and at no time would I say there were 200 vehicles on that lot) heck, I am not even sure it can hold that many fairly small lot on the corner of a major hwy). Well, I go and apply and I am told that I will need a large down payment due to my credit history. Mind you I know of someone personally I know their scores were lower than mine in fact, I pulled theirs for them yet, they were able to do the 0 down and yes, this person's credit is just not good due to a number of judgements a recent one for $12,000 dollars to be exact yet, she was financed for 0 down on a car that the sticker originally said $29,000 but was knocked down to $23,000 after they finished with rebates and stuff. The car I applied for was retailing for $22,000. Anyways, I called the station that I heard the ad on and listened to it again to see if as a footnote it would say "certain restrictions apply" the ad never said that. I called also to insure that I had my facts straight . Now correct me if I am wrong, but the ad plainly stated no money down and all credit types accepted! I feel this is False Advertisement! Do you agree? if so, what are the next steps I should take. Pls understand that I am not angry that she got financed and I didn't. I am agry b/c for those of us with less than perfect credit it is hard enough to apply for fear of rejection. Then you get these ads and they offer hope during your rebuilding process, so you decide to take that leap of faith only to be rejected. They made it sound as if "rejection was not an option". I am working on my credit and it is improving slowly and I realize that ruining my credit was not an overnight process therefore, neither will rebuilding it be. I can live with that, but I don't like deceptive practices. Having bad credit is painful enough we don't need for people to ad insult to injury. Pls advise. Thank you.

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i feel your pain. i have been through that exact same story. it sucks. really bad. i still cannot figure it out.

what i did do was gave up on getting a new car. suffered through the one i had and for about 4 months i worked on paying off collection accounts and DV'n anything and everything negative on my reports.

while doing this and probably the most helpful to me was (in my opinion) i paid my revolving credit cards/loans EARLY!!! and paid twice month if i could. well i pulled my credit report last month ... and whammo it had jumped from a 552 to a 639 in only 4 months!

there is hope my man. just work on you for a few months and try again.

new cars suck anyway. they are a depreciating asset no matter how you look at them. losing several thousand dollars once you drive off the lot and going downhill from there.

get a reliable used car unless you can afford big payments.

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Hey,

Thanks for your reply and yes, I will continue to do what I am doing. I just want people to stop with the deceptive practices and I personally feel that unless we speak up this will continue and it is not right. I don't really care about having a new car or old car. Its just the principle of the matter that gets me. Thanks though for the advice!!!!:)

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Hey,

Thanks for your reply and yes, I will continue to do what I am doing. I just want people to stop with the deceptive practices and I personally feel that unless we speak up this will continue and it is not right. I don't really care about having a new car or old car. Its just the principle of the matter that gets me. Thanks though for the advice!!!!:)

I would assume that you could always file a BBB complaint.

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reading your original post......I'm playing devil's advocate here when I reply:

...stated all credit types accepted...

that DOES NOT MEAN APPROVED. It only means they will ACCEPT your application. Nothing more, nothing less.

I called also to insure that I had my facts straight . Now correct me if I am wrong, but the ad plainly stated no money down and all credit types accepted!

Legally, unless it says "no money down, regardless of your credit" they're not doing anything wrong.

I feel for you, 100%. When I got my car 4 years ago, my score was closer to 400 than 500, and I had no idea what to do. I agree with you - the companies do make people feel like they're bad people based off their credit score. I think it's wrong.

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This March, the hubby and I were approved for a 2004 Acura RL, and then about 1 month later, I got a new Honda Accord fully loaded, with no money down. This is with two repos on my credit (went thru a bad spell in 02/03). To re-establish car credit, we went to a "buy here; pay here” lot that reported to the CRAs, and paid on time for a year and 1/2. Our scores took a huge hit after the new cars, but time will cure that. I also opened First Premier and HSBC credit cards, and paid mortgage on time to establish good history.

This site is great. Work on the past if you can. But take baby steps, you will get there

Oh yeah, we were also approved for a 250K mortgage and will be breaking ground soon.

Car loans are with Citi Financial and Wachovia Dealer Services

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First, thanks to all that have responded! It is somewhat comforting to know that I am not in this alone. I am still ckng this out though and I have gotten some really good insight as to what can and cannot be said in an ad. However, that is going to have to take a back seat to some other things that I have got going on right now credit repair is my main goal at this time. I will be working on this, but it will just have minimal time on my schedule.

Again thanks for everything! I will still be asking questions and utilizing the wealth of information here, so pls keep up the good work!!!!

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