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Ford Fusion, Sedan
Jul 09, 2009 (12:35 am)
I'm retired from FMC and a while back I got a call from my grand-daughter and her husband who wanted to use my "Friends & Family" discount in buying a new Ford Fusion. I was to meet them at a dealership near the husbands home, Speedway Ford in Griffin, Ga. which, today I'm sure was a prearranged deal by the husband. I got to the dealership and got them a PIN number so they could buy a car as long as I "co-signed" for it which I was willing to do. The finance person at the dealership brought out the paperwork and said "sign here" on the paperwork which I did and they got a 2009 Ford Fussion to drive away in.
Weeks later I got a call from my grand-daughter who told me that her husband was out whoring around and she didn't know where he was with the 2009 Ford Fussion. A week later I got a call from Citi-Bank telling me that I was late in my payment on "MY" Ford Fusion, the dealership put the car in my name with the husband as my co-signer and the dealership refuses to do anything to correct their screw up.
I've received two and three calls every day, seven days a week since that time from Citi-Bank who also won't do anything about a car that I neither own nor for that matter have even turned the key on and today the car is out wandering somewhere in Texas.
My credit rating is effected and going lower every day but the dealership made their sale and Citi-Bank can always attach my pension since they can't find the car. If they did it would show up as a repossession on me and the finance company will get their losses out of attaching my pension.
Stay away from Speedway Ford but according to my grand-daughter that Ford Fussion is a great car when it's around but then again it makes a darn good get-away too.
#202 of 489 Re: Dealer scam [sp4littlejohn]
Jul 09, 2009 (1:17 am)
Sorry to hear about your situation. The finance folks at the dealership are jerks, to say the least.
If I'm understanding, you're saying that he has left your granddaughter, he has the Fusion and he's not making payments on it? Correct?
Technically, you DO own the car if you are the 'primary' on the loan! You can legally take posession of the vehicle...and you should! Get the car back and sell it! That will save your credit rating from being damaged further. If you can afford it, you might want to consider paying the loan current immediately while you're trying to get the car back!
As for getting the car back, repo men will work for an individual just like they will a bank. They usually earn $350-$400 for a typical car repo, so you could expect to pay $400 or so for them to take repo it for you. Maybe pay them an extra $100 to beat the crap out of your granddaughter's soon-to-be ex-husband if they see him!!!
Another possible solution- report the car stolen! It's registered in your name and he left the state in it without your consent...that constitutes theft in most states (Georgia for one, but not sure about Texas).
Don't let this SOB ruin your credit and/or end up causing you to lose any more money than absolutely necessary!
Jul 09, 2009 (1:57 am)
If you sign without reading, you are in trouble. Even as a cosigner you would still be screwed. That's why they call it a cosigner. Because the signer couldn't get it otherwise. I heard a statistic once that about 80% to 90% of loans with a cosigner get defaulted on or the cosigner ends up paying for it or has their credit ruined. #1 rule, don't cosign if you aren't willing to pay for it yourself. Not much you can do about it other than pay for the car yourself and try and get it from him and sell it to .... me. ^_^
#204 of 489 Re: Dealer scam [sp4littlejohn]
by kyfdx@Edmunds HOST
Jul 09, 2009 (3:13 am)
I doubt you can report it as stolen, even if it's in your name, considering he had your permission to drive the car. Though, if you can get it "re-poed", since he isn't making payments, that would be a good start.. You might inquire about recovery services.
And, our other member is correct. It doesn't matter if you are the borrower, or the co-signer. You are completely and fully responsible for the payments. That is the whole point of the bank needing a co-signer (and, a big red flag, if someone needs you for that).
If it were me, I'd start making those payments. You guaranteed that loan, and you will wreck your credit if you don't keep it current. (Or, ask your granddaughter to make them). This problem is not going to go away.
Sorry to hear about your bad luck.
#205 of 489 Re: Dealer scam [sp4littlejohn]
Jul 09, 2009 (7:17 am)
I don't think it is a dealer scam. You agreed to be responsible for the payments, or did you just think the whole thing is for fun and games?
don't blame the dealer , blame yourself , and your daughter and son in law.
#206 of 489 Re: Dealer scam [sp4littlejohn]
Jul 09, 2009 (7:19 am)
If you can prove that the dealer forged your signature on the paperwork, I think you would have a good chance in a lawsuit.
#207 of 489 Re: 2008 Fusion SEL w/ 70k miles- should I buy it? [jeffyscott]
Jul 09, 2009 (10:14 am)
jeffyscott: I agree with you. What can you sell the MZ3 for? Private sale? people still Do That? Good Luck.....If I wre to buy a Used car it would be a previously Owned car with Warranty & Certified. Even you pay some extra bucks, its certified. Anyway: Does igozoomzoom have loan paymets on his MZ3 and will be buying the Fusion all Cash or with a loan? It would seem to me that : you would replace a 75k miles MZ3 with a Ford Fusion V6 - SEL [a larger, roomier car, better equppied] without Warranty, and take on a loan payments that you don't have now....Again presuming there are no loan payments on the MZ3.?? Or Buy the Taurus in 18 months LOL.....
#208 of 489 How much should I pay for a 2010 Fusion SE Automatic
Jul 16, 2009 (7:31 pm)
I am in the market for a 2010 Fusion SE Automatic, 2.5L, Spoiler, with 202A Spec Package (i.e. moonroof ). Multiple dealers are offering it to me for $20,500 (this is after the $1000 manufacturer's rebate, but before taxes and licensing...probably another $1,500). This price came without any haggling, but it is what they said there best offer was. What should I counter with? How low should I go? Thanks,
#209 of 489 Re: How much should I pay for a 2010 Fusion SE Automatic [eriks1979]
Jul 17, 2009 (9:09 am)
That's already a pretty low price, I don't know that you could go much lower. Seems like a pretty good deal to me though. I believe you could walk away pretty happy with that deal.
#210 of 489 X Plan buyers?
Jul 25, 2009 (11:40 am)
Anyone know if x-plan buyers also qualify for any rebates/incentives that Ford may offer? Also is it true that x-plan prices are generally around invoice price? thanks