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Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
12/08/2022
- Complaint Type:
- Product Issues
- Status:
- Resolved
On 2/25/2021 I entered a contract with ***************************** AUTOMOTIVE **** I entered into this contract agreement with *** BURKE AUTOMOTIVE *** without:I. Full disclosure of my right to rescind II. Transparency regarding the process of the consumer credit application being the financial asset (12 CFR 360.6(2)) ;III. As well as self-liquidating paper (17 CFR 260.11b(6))I have reason to believe that *** BURKE AUTOMOTIVE *** willingly and knowingly took advantage of me and my consumer credit.I was given false and deceptive information as I was informed that a down payment of $11,000.00 was needed for me to drive off the lot.By doing so *** BURKE AUTOMOTIVE *** violated 15 U.S. Code **** which clearly states: The finance charge does not include charges of a type payable in a comparable cash transaction.Business response
12/14/2022
**************** is incorrect in his complaint. **************** was given a full opportunity to decided whether he wanted to enter into an agreement to purchase a vehicle. He is a competent adult who freely entered into the purchaes agreement. Once he entered into this agreement, he had no right to rescind the agreement.
The rules cited by him 12 CFR 360.6(2) and 17 CFR 260.11b(6) have no application to this transaction.
The statute cited by him, 15 US Code ****, defines what is a finance charge. The amount of the finance charge is used to calculate the Annual Percentage Rate in a financed transaction. The definition of a finance charge does not relieve **************** of his obligation to pay in full for the vehicle including any down payment plus all monthly payments.
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Customer Complaints Summary
2 total complaints in the last 3 years.
1 complaints closed in the last 12 months.