Fraudulent Offer
Complaint
Christine Cener
Country: United States
DCH Brunswick Toyota sent me an offer letter which stated: 1. "You have been Pre-Approved for an auto loan"; 2. "As low as Zero Cash Down Payment"; and 3. "Use the enclosed check for up to $1850 as a down payment to further reduce already low prices."
Upon calling the number indicated in the letter, and providing the "Personal Approval Code" in the letter, I was told I had been approved for $40,000 in financing. I made an appointment for the very next day.
At this appointment (5/21/11) a salesman took the offer letter and the identification items I had been asked for to the Finance Manager. A few minutes later, the salesman came back to me WITHOUT THE OFFER LETTER and proposed almost the exact same deal I got on a vehicle a year ago. I was told I'd need to make a down payment of approximately $4000 on a car with purchase price of approximately $18,000.
MY COMPLAINT IS THIS: It seems clear that the offer sent to me was fraudulent. If I had been pre-approved for $40,000 in financing, how could I need to put $4000 down on an $18000 car? I made a smaller down payment a year ago, without benefit of an $1850 "check" meant to "reduce down payment"! The math is self-evident.
In addition, it seems to me that DCH Toyota was bound and determined for me NOT to have any evidence of this fraudulent offer, which is why they refused to return my offer letter to me. When I insisted on a manager’s intervention, I got the letter back…along with some very rude treatment.
I am not surprised by rude behavior from someone who was caught in a fraudulent act. I want no apology. I want satisfaction based on my belief that DCH Toyota sent a fraudulent offer in US Mail.
Upon calling the number indicated in the letter, and providing the "Personal Approval Code" in the letter, I was told I had been approved for $40,000 in financing. I made an appointment for the very next day.
At this appointment (5/21/11) a salesman took the offer letter and the identification items I had been asked for to the Finance Manager. A few minutes later, the salesman came back to me WITHOUT THE OFFER LETTER and proposed almost the exact same deal I got on a vehicle a year ago. I was told I'd need to make a down payment of approximately $4000 on a car with purchase price of approximately $18,000.
MY COMPLAINT IS THIS: It seems clear that the offer sent to me was fraudulent. If I had been pre-approved for $40,000 in financing, how could I need to put $4000 down on an $18000 car? I made a smaller down payment a year ago, without benefit of an $1850 "check" meant to "reduce down payment"! The math is self-evident.
In addition, it seems to me that DCH Toyota was bound and determined for me NOT to have any evidence of this fraudulent offer, which is why they refused to return my offer letter to me. When I insisted on a manager’s intervention, I got the letter back…along with some very rude treatment.
I am not surprised by rude behavior from someone who was caught in a fraudulent act. I want no apology. I want satisfaction based on my belief that DCH Toyota sent a fraudulent offer in US Mail.
Comments
FCRA allows the credit reporting agencies to sell consumer information for "promotional" purposes, based on credit screens but not including any actual account information, as long as the purchasers are using to make a "firm offer of credit".
Various companies have used this FCRA provision to buy marketing lists, but in doing so, they must make this "firm offer of credit" to fit within FCRA's definition of "permissible purpose".
Other auto dealers have used this ploy to by mailing lists, even though it may be a bit of a sham.
If you pull your credit reports, you will probably find an inquiry from this company. It should be labeled "PRM" and should not be disclosed to others, so it should not affect your credit scores. They should only have obtained your name and address information.
If you believe their advertising was deceptive, file a complaint with FTC or your local DA's consumer protection unit.