24-year-old woman has alleged, that she was sold a lemon costing her more than $26,000 with a credit finance contract interest at 24.99%, but the Blue book car prices only valued the vehicle for $5,000.
By H. Nelson Goodson
Hispanic News Network U.S.A.
June 25, 2016
Milwaukee, WI – On Friday, a 24-year-old woman confirmed that she will do everything possible to get her $2,000 cash down for a Ford Focus 2012, which turned out to a very expensive lemon vehicle to own. She contacted Hispanic News Network U.S.A. (HNNUSA) to publicly expose the bad service that she received at Carromatic, 5801 S. 27th Street in Milwaukee, an auto sales business out of Chicago (Car Outlet) that is known to sell vehicles for more than three to four times their worth value due to a high interest rate alone and low income customers and undocumented immigrants who can’t easily get a car finance by a bank or another financial institution fall victim to this type of high interest financial entities.
The woman returned the vehicle several weeks after she had it for several months and the transmission gave out. She made two $414.00 monthly payments on the finance contract that was approved by Total Finance an affiliate to Carromatic.
HNNUSA contacted Nery Valladares, the Sales Manager at Carromatic who confirmed that in fact the woman had returned the vehicle several weeks ago. She was offered a replacement vehicle or get the vehicle fixed, but she wanted a more expensive vehicle, which Valladares says, it couldn’t be done because it cost more.
The woman says, she returned the vehicle and after she couldn’t resolve her lemon dilemma, she decided that she didn’t want the lemon anymore and wanted a refund of her cash down payment of $2,000 and to terminate the $26,047.96 financial contract, since she returned the vehicle before the time expired to do so.
According to Valladares, Total Finance and Carromatic have not made a determination on the lemon vehicle and her financial contract. Here’s the breakdown of the vehicle’s actual value and how much Carromatic and Total Finance will profit from the credit contract to finance the Ford Focus. Carromatic sold the lemon Ford Focus 2012 with more than 124,000 miles for more than $10,000 with an credit interest rate at 24.99% totalling $26,047.96 after 58 car payments, the Blue book value of the vehicle is only $5,000 and what is also questionable, whoever filled out the Total Finance contract at Carromatic, they didn’t add no insurance coverage for the buyer and allowed her to actually drive out of the Carromatic auto sales lot…Ouch!
The 24-year-old woman was sure taken for a ride and she now wants to prevent the same lemon mishap from happening to someone else. She did confirm, that she will seek legal action as well.
HNNUSA did provide several days for Carromatic to solve the Ford Focus lemon dilemma with the buyer, but it hasn’t yet made any decision to do so.