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Mick Ronson AutoLoans.com San Diego California 800-609-1716 |
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An investigation by the site’s independent researchers suggests a disturbing trend of unscrupulous dealerships actively enticing and then exploiting members of the armed forces in unfair vehicle financing arrangements.
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Online PR News – 01-August-2011 –AutoLoans.com, a site providing free quotes on car loans and independent opinions and research on industry trends, has published a piece exposing the unsettlingly common practice of dealerships taking advantage of active-duty military members with dishonest auto loans.
The dealerships, many of them modest operations in small- to mid-size cities, actively target military personnel with flags, signs, and advertisements. The signs typically draw in service members with mottos like “We welcome Military.” In Auto Loans’ research, the site found that the dealerships that court military members most aggressively are typically the worst offenders in terms of exploitative financing deals.
“At Auto Loans, we pride ourselves on being military-friendly, but we do not promote ourselves heavily as such, precisely because of what our latest investigation has found. Military members have learned to view such ardent recruitment with a skeptical eye since it often leads to prohibitively expensive and deceptive auto financing arrangements,” explained Mick Ronson, spokesman for AutoLoans.com.
Dealerships who abuse financing deals with military members know that many of them do not have an abundance of cash, may not review their financing documents carefully because they have impending deployments or commitments, and are easier to take advantage of when they are on active duty. These factors often lead to military members saddled with auto loans they are unable to pay while on active duty.
“A number of our visitors are active military, and we hope this newest investigation will educate them on the red flags to watch for in these raw deals. As we emphasize on our site for all potential borrowers, not just military personnel, the way to avoid most of this dishonesty and deception is simply to deal with independent lenders rather than a dealership. We are proud to offer a selection of hundreds of independent lenders from around the U.S.,” said Mr. Ronson.
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