Car dealer rip off

[POKE1911]

tell her to work at a strip club, pay it off in 3 or 4 months. problem solved?

WINNER.... Problem solved, why didn't I think of that. Or maybe the OP could pull a magic mike and pitch-in. I won't judge.

 

[Sam Shoun]

Not sure if someone's mentioned it, but you might contact the OK Attorney General's Consumer Protection office:

http://www.oag.ok.gov/oagweb.nsf/consumer!openpage

At the very least, you/she could file a complaint with them. I've also had success arguing with businesses that ripped me off by threatening to make such a complaint if they don't fix the problem.

 

[Mr10mm]

I'm tellin ya,
1. drive car to bad hood
2. leave keys in it

 

[benjamin-benjamin]

How did you get the 100k figure? Any residual debt after the repo is hers, plus fees and interest. But there are statutes to how long they can pursue the debt collection, as well as how long the hit will stay on her credit. Even if they do sue within the statute, and get a judgement, chances are it will roll of her credit report before she looks to buy a house; consider her age. Anything aside from the house, she can learn to live without credit and pay with cash in the meantime anyway.

the 100K was over a lifetime.. i have met numerous people in their 50s, 60s and 70s that have never recovered and payed rent their whole lives (never could own due to credit) payed higher CC rates and of course very high car rates, 100k is actually low... not saying that she won't recover (it stays for 7 years...) just saying alot of people never do... i mean she drops this car and "takes the hit" then she might be able to get approved for something else before the 90 days claim hit the credit report, but then what happens in 3-5 years when she wants a new car.. right back in the same situation.... and some people do that cycle for decades...

 

[Biggsly]

Need to look into new insurance. I just added my youngest with a learners perment. It is going to cost me about $100 a month.

 

[OKCShooter]

How would the bank ever approve that amount for that car! Sounds like something fishy! On the dealers side that is.

I'm sure it's a buy here/pay here lot...no bank involved.

They buy that car at an auction for $4500, take $500 down and made a CRAPLOAD on the buyer (or they sell the note off to a 3rd party)...

 

[HMFIC]

I'm tellin ya,
1. drive car to bad hood
2. leave keys in it

So the insurance can pay fair market value and still leave her on the hook for the outstanding balance with no car and then force that to become due immediately since there is no collateral anymore?

Not to mention potential criminal record for insurance fraud if she's caught?

I'm in no way forgiving the poor decision this young lady made, but this solution is just not sound advice...

 

[Billybob]

Making contract is a serious bond,

They used to be but now it depends on the contract and those involved huh? Anyone can cancel a marriage contract for no reason, AA wants a judge to cancel it's union contracts doesn't it? What about those oaths of office, aren't they a form of contract?

 

[Mr10mm]

I kid i kid..

 

[PUMPKIN]

those types of places hope they dont pay, so they get what money she did have and the car back to start over again. just like mathis brothers makes their money off the people who cant pull off the 6 months zero interst plan....