• Report:  #109222

Complaint Review: Joe Cooper Ford - Oklahoma Oklahoma

Reported By:
- Oklahoma, Oklahoma,
Mon, September 20, 2004

Joe Cooper Ford
I 40 & SE 29th Oklahoma, 73110 Oklahoma, U.S.A.
Tell us has your experience with this business or person been good? What's this?
When we finally got to the financial person he informed us in order for Ford Motor Credit to accept our application for the purchase of the vehicle it would require additional insurance. The explanation that he gave is that our insurance company "State Farm" would not reimburse us for the total of damages to the vehicle if we were involved in an accident and would depreciate the vehicle and Ford Motor Credit wanted the vehicle insured at 100% and the only alternative that we had was to purchase the insurance that he was providing and have it financed into the purchase price.

In addition to that, I did not receive my title on time and faced being fined for not registering the vechile on time.Upon calling Joe Cooper Ford, I was informed that my car loan was not yet approved and I may be forced to return my car, also, I was forced to purchase an extra $150.00 in Insurance in case I lapsed on my Insurance payments, this was to cover the life of the car, in addition yet again, I was also forced to purchase a tracking device for $150.00 in case the car was stolen.


Oklahoma, Oklahoma

3 Updates & Rebuttals


United States of America
What did the purchase contract say about gap insurance?

#2Consumer Suggestion

Sat, April 02, 2011

It is common for the F&I person to lie about gap insurance.  They will usually say something like: 'its mandatory' or 'you can't get the financing without it' or you can't get the rate we discussed without paying for gap insurance' (etc). 

HOWEVER, when you actually read the contract it actually says something along the lines of: 

OPTIONAL GAP CONTRACT: a gap contract (debt cancellation contract) is not required to obtain credit and will not be provided unless you sign below and agree to pay the extra charge. If you choose to buy a gap contract, the charge is shown in item ___ of the itemization of Amount Financed. See your gap contract for details on the terms and conditions if provided. It is part of this contract.  then it actually states:  "I want to buy a gap contract" right above your signature line.

Notice that the contract says its OPTIONAL and the F&I person said it was mandatory?

This is a deliberate ploy to dupe you into signing the contract with the gap policy. It is a huge profit center for the dealership and a big bonus for the F&I guy. It costs you extra money - just like other bogus charges like "etching," "dealer fees", etc.

READ your contract. Don't sign for it if you don't agree to it. Also, don't believe anything the F&I person tells you. Suggestion: If you line up your financing before you go to the dealership, at a credit union for example, you won't have to listen to their lies. They use a different contract because you are essentially a cash deal, since you are financed by an outside lender. You win because you know your figures before you go and you can negotiate a much stronger deal with on the purchase of your vehicle.

I sell cars

gps devices

#3UPDATE Employee

Fri, March 25, 2011

actually, we don't charge for gps devices...  it's built into the price of the vehicle, as is our warranty (if applicable)...  we do gps as a service for our credit challenged customers, but on the conventional lot, there is no gps device involved.  on the conventional lot, you pay for etching an delivery (doc fees). 


United States of America

#4UPDATE EX-employee responds

Thu, February 11, 2010

Tracking devices are instaled all over town at "buy here pay here" lots. They are designed for people with chalenged credit. This is just so the bank can find it if they need to repo the car.

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