This auto-dealership heartlessly conned me

Sep 03, 2016 Letters

Dear Editor,
Please permit me space in your column to shed some light on persons interested in buying a vehicle. I would firstly like to say that I was inspired by Mr. Freddie Kissoon to finally break my silence on this incident, I have learnt from him that the poor does have a voice and the only way it can echo is if we open our mouths.
About three (3) years ago I made a down payment on a vehicle at a certain auto sales company (name supplied) of $700,000 and was told to provide a further $130,000 for a year full coverage insurance. Six months later I received a call from them stating I have to renew my insurance, when I really learnt what happened is that they took my $130 000 and gave a $5000 third party insurance, automatically gaining $125,000. I confronted them, asking if an accident had occurred what would have happened, I was told by an employee that I was covered by the company. Is this even legal? Are they trying to say that car dealer is an insurance company also? I was so naïve.
Secondly, the quotation for the vehicle is in GYD but when I went to make payments, my money was converted into USD at their exchange rate e.g. I was paying $100,000 GYD monthly and their exchange is 212 to 1, my $100,000 became 94,339 giving them $5660 monthly on exchange alone. Going further, I would have accumulated $203,760 extra in exchange for the 3-year deal. I was so naive
Lastly, after 2 years and paying an accumulated 2.3 million GYD I ran into some financial problems and the car was re-possessed, I was told the only option I could’ve had was to acquire a loan to clear off all debts with them. I did the necessary and only needed an inspection of the vehicle to complete the loan, when I lament this information to the dealer about 2 weeks after re-possession I was told they already sold the vehicle, yes, you heard me SOLD. I received no notice, no warning, no compensation, nothing. I think I was treated unfairly and don’t want this to happen to anyone else. Don’t be naïve and don’t let these auto dealers con you.
M.Narine

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