I went in to the Norfolk RH Cheverolet to discuss possibly trading my 2016 Colorado in on a 2018.After the appraisal the salesman came back with a low ball offer on my trade and a pumped up price on the vehicle (it was actually at another dealer 150 miles away, they listed the vehicle far under what Hendrick was selling it for).
Basiclly they wanted me to pay 42k for a 32k truck after my trade was factored in. I declined the offer. The salesman said his GM was there so he was going to see if he could help get it lower. He came back without the deal paperwork and said they were working on it and he felt good about it, lets finish getting some info.
Ok I gave him all my personal info which he entered into the computer. Having bought many vehicles I'm use to this part and know that they will come back when we have agreed on the vehicle price with the paperwork for me to sign authorizing them to pull my credit He walked off again and 30 min later came back with the finance manager who presented me with my credit score and advised that he could not get me financing on this deal. I asked what deal, we had no deal on the table, and I wasn't aware they were going to run my credit yet. I signed the credit score acknowledging receipt of it.
I was pissed but decided that Id get over them pulling it because it wold have happened eventually if we agreed on the price. The finance manager then says that he would keep working on it and call me in the morning. I leave, by the time I get to my car IM getting a call from Equifax to tell me that there had been 6 hard inquiries on my credit. They had submitted applications to 5 lenders requesting a credit line for the 42k that I had not agreed to or authorized.
My credit score dropp3e 59 pts. When confronted they tried to say that I had verbally authorized it, then said I should have known, then presented the paper with my score on it saying I had authorized it because I signed it. The General Sales manager got inviolved and assured me that he would make it right and ull strings to get the deal done and I would pay much less than the 42k He was sorry for what he called a miscommunication. Called me told me it was GREAT NEWS got everything done and I'm Going to be happy come on in prepared to get my new truck.
I figure I may as well see what hes offering, go in, nothing has been actually worked out, wants to know what I want to pay for the truck, then tells me that Only finance offer I have is with a 14% interest (I'm paying 0% now) with a payment of $775. Told him he was insane and tried to leave, He then ask if he can get my payment to $515 or below and financing less than 35k would we have a deal. I stated that was what close to what I had been expecting and that find it hard to believe he cant get me a decent rate when my credit was far worse when I got 0%.
Bottom line I never authorized them to pull my credit much less submit applications to 5 different lenders for 1$ much less 42k.Now I'm filling complaints with DMV, and complaints against them for violating the fair credit act.
Reason of review: Lies, deceit and illegal business ethics.
I didn't like: Have no ethics.