Oops. In an earlier post if I spelled the name wrong of the car store. I know that the story is true because it happened to a friend of mine who then posted a review on Yelp. The car store has harassed her for posting her story.
People who are low-income have a hard time finding traditional loans. This leaves customers at the mercy of other smaller private lenders. When these smaller lenders act in an orthodox and Austin illegal ways, the low income client has few ways to retaliate. They already have poor credit and can end up on the hook for payment that they can’t possibly make at a rate which is impossible. However the car sales person seems like a man of authority as so they believe them when they originally strikes a deal.
Examples like this are what I mean.
You cannot run credit on somebody’s first and last name alone, you need a Social Security number or more identifying information. I know this, and now you know this. Gus, the salesclerk who spoke with my friend over the telephone was hoping that she did would not know this.
She called once about the car and gave A name. – She called again to ask a question and was told that her credit had been run and she would have to take financing from the Karsplus location if she wanted to buy a car.
No. People, just no.
A low income person may not be business savvy and may not understand that they are being lied to.
A car can mean survival – it is a way to get to a job, to earn a paycheck, and pay the bills to keep a home.
It is just mean to take advantage of these folks. Just because you CAN, does not make it the correct thing to do.
Gustavo, or Gus at KarsPlus – I am looking at you.