An Adventure With Predatory Lenders & Liars.

I am not going to name names in this post because I don't want it to be deleted. If any of you who live in Central Maine would like to know which Car Dealer and Financial institution I'm discussing, PM me and I'll be glad to tell you.

First and foremost, my wife and I have had Credit challenges. Some our fault, but some not, like when we sold our house to a thief real estate agent in Pennsylvania before moving up here. We have, however, not been late on a single bill for nearly 4 years and are making nice progress in improving our credit. My score is now into the 600s with breathing space. we need a few more positives to get where we want to be, namely in a position to buy a house.

Our '95 Cherokee is a very good car, but it's a very old car. What we spent on fixing it last year was the equivalent of what 12 car payments (and the increased insurance) would have been. We decided to take out newly improved standing and see if we could get a nice used mini-van for a reasonable price.

We went to a used car place in Lewiston that advertises itself as a place where "Your good job is your good credit". We were told by the salesperson/owner, looking at my credit score, that "you'll be able to buy a car". We test drove a 2001 Dodge Ram Caravan with 68,000 miles and a list price of $6500. We agreed on a $1000 trade for our Cherokee, $800 down and he would arrange financing and would call us with the approval the next day. I will allow that letting him do the financing leg work was the first mistake. Probably ignoring the rush limbaugh book in his office may be tied, though.

The next day I call and he tells me that they're still working on it. During lunch, I get a call from a young lady from a "lending institution". As soon as I heard who she represented, I knew we were dead, but I maintained my wife's optimism and relentlessly positive view of people and answered honestly the questions that, in retrospect, were designed to justify declining the loan, not approving it.

Lo & behold, about an hour after lunch, the dealer calls me. He "happens" to get a call from the finance company while I'm on the phone with him to tell him that we were turned down for their usurious interest rate loan.

What happened next was what infuriated me.

I was told what wonderful people my wife and I were.

We KNOW what kind of people we are. We don't need somebody to tell us. We need somebody to tell us that we're a pair of Cocksucking Bastard Mother-Fuckers who will give us a $4700 loan that won't cost us almost $11000 in 3 years.

What the dealer did next was what prompted this writing.

Just because we were such WONDERFUL PEOPLE, he was willing to help us out. He was going to finance, out of his pocket, a 1997 Chevy Astro for $1500 down, $100 trade on our Cherokee, and $155 every 2 weeks for a year. He took a $3900 sticker price, knocked 90% off of our trade, and would sell us the car for a mere 142% of the sticker price, but INTEREST-FREE (WOW!).

He also worked the numbers to offer us a 2000 Windstar for 149% of the sticker price. Again he was so altruistic as to offer it interest free.

My wife and I have learned valuable lessons from this, primarily, go in with financing first. We will try again in a few months. We will not try with either this finance company, with whom my family has had awful dealings in PA (I would NEVER voluntarily go to them), nor this dealer, who is a smooth-talking thief as well as a rushbot.

As I said before, if you want to know about whom I am talking, PM me and I'll be DELIGHTED to name names!

BTW, does anybody know any BLUE dealers in the area?

...for the weekday night crowd.