Calgary Auto Connection, Illegal lien and towed the vehicle

[J-hop]

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Unless he locked in such a good rate on a secured loan on a used car that he can earn more money than he pays interest?

Can you even get secured loans on older vehicles like that? I know for a fact TD would not for a vehicle like that.

[ercchry]

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Can you even get secured loans on older vehicles like that? I know for a fact TD would not for a vehicle like that.

Probably not from a bank... it there are lenders willing to lend on basically anything... hell, you can even get 50-80% of the value of your private placement shares. The rate isn’t even that bad!

[J-hop]

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Probably not from a bank... it there are lenders willing to lend on basically anything... hell, you can even get 50-80% of the value of your private placement shares. The rate isn’t even that bad!

Yea no doubt. I inquired about one to see what all the fuss was about. I think TDs cut off age for a secured loan was 2 years and the unsecured rates were moronically high (I think 7% was what I was quoted). Some people love throwing money out the window

[HiTempguy1]

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Unless he locked in such a good rate on a secured loan on a used car that he can earn more money than he pays interest?

What year was the X5? Original post is gone.

Servus was offering 3.5% loans on used cars over 3 years old last year. Also applied to a variety of other things, like trailers and what not. So totally doable depending on the year, don't think that offer is available anymore but you never know.

[ercchry]

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Yea no doubt. I inquired about one to see what all the fuss was about. I think TDs cut off age for a secured loan was 2 years and the unsecured rates were moronically high (I think 7% was what I was quoted). Some people love throwing money out the window

You have to look at the full picture when it comes to lending... is 7% stupid? If you’re a clean A client with a high net worth... maybe

But 7% on a 3 year car vs 0.9% on something fresh off the lot. Who has the lowest cost of ownership?

It’s like people that get upset that they’re best mortgage rate is 4.50% cause the Jones’s got 3.29%!

Yeah! And the Jones’s paid $50k in taxes last year... while Mr. 4.50% wrote everything down and paid close to zero... who is actually winning?

Rates are meaningless without context

[J-hop]

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You have to look at the full picture when it comes to lending... is 7% stupid? If you’re a clean A client with a high net worth... maybe

But 7% on a 3 year car vs 0.9% on something fresh off the lot. Who has the lowest cost of ownership?

It’s like people that get upset that they’re best mortgage rate is 4.50% cause the Jones’s got 3.29%!

Yeah! And the Jones’s paid $50k in taxes last year... while Mr. 4.50% wrote everything down and paid close to zero... who is actually winning?

Rates are meaningless without context

Completely agree, context absolutely matters. But so many people make stupid decisions and may end up paying almost as much for a 3 year old car at a high finance rate than they would a brand new one with low finance rates.

[roopi]

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What year was the X5? Original post is gone.

2013

[max_boost]

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The issue has been resolved and both my friend and Calgary Auto Connection are happy after having a misunderstanding.

haha right

[Rocket1k78]

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It is quite ironic on Beyond how many guys jump all over a buyer for being an idiot, not doing diligence, poor marth that locks them into a terrible finance situation. Which is essentially how so many of these car shops make money, preying on uneducated people. But when they fuck up its now jumping on the buyer again for being shady or not being forthcoming on an error benefiting them

Agreed lol This is such a messed up situation and after being taken advantage of with car purchases in the past im not sure i would be trying to point out the dealers mistake either.

[gpomp]

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The issue has been resolved and both my friend and Calgary Auto Connection are happy after having a misunderstanding.

Not before tanking Calgary Auto Connection's Google reviews...

[revelations]

So a summary:

• Buyer trades in old vehicle with (knowing full well it had)a lien that was processed incorrectly by the dealer.
• Buyer works in the financial industry and very likely knew about the mistake the moment he walks out the door.
• Buyer then ignores all communication from the dealer regarding this matter.
• Dealer, after exhausting their legitimate routes of complaints, seizes the vehicle.
• Buyer, then whines and complains about an "illegal" action taken in part by the dealer.
• Dealer gets shit on in social media and review.
• Buyer realizes they fucked up and somewhat owned up to their actions.
• Dealer still manages to make things work out.

[Disoblige]

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So a summary:

• Buyer trades in old vehicle with (knowing full well it had)a lien that was processed incorrectly by the dealer.
• Buyer works in the financial industry and very likely knew about the mistake the moment he walks out the door.
• Buyer then ignores all communication from the dealer regarding this matter.
• Dealer, after exhausting their legitimate routes of complaints, seizes the vehicle.
• Buyer, then whines and complains about an "illegal" action taken in part by the dealer.
• Dealer gets shit on in social media and review.
• Buyer realizes they fucked up and somewhat owned up to their actions.
• Dealer still manages to make things work out.

I bet this thread will be deleted soon because OP looks like a douche now.
Enjoy this thread while it lasts lol.

[nytrydr89]

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So a summary:

• Buyer trades in old vehicle with (knowing full well it had)a lien that was processed incorrectly by the dealer.
• Buyer works in the financial industry and very likely knew about the mistake the moment he walks out the door.
• Buyer then ignores all communication from the dealer regarding this matter.
• Dealer, after exhausting their legitimate routes of complaints, seizes the vehicle.
• Buyer, then whines and complains about an "illegal" action taken in part by the dealer.
• Dealer gets shit on in social media and review.
• Buyer realizes they fucked up and somewhat owned up to their actions.
• Dealer still manages to make things work out.

That is 100% exactly what happened.

[Buster]

Smart enough to realize that the dealer made a mistake, but not smart enough to figure out a way to indemnify himself against recourse due to the mistake.

[Rocket1k78]

I totally forgot he worked as a manager at RBC lol Pretty hard to play dumb in his case

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The issue has been resolved and both my friend and Calgary Auto Connection are happy after having a misunderstanding.

Your friends happy im sure because he got his car back and ill bet some money on top but calgary auto cant be happy. You guys tried to ruin his business with some BS slander posts and now you wanna say theyre happy?!?! Do you think everyone that read your initial post is following this thread and now sees you fucked up by not telling the whole story? NO. Look at their google reviews too.

[Skrilla]

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You have to look at the full picture when it comes to lending... is 7% stupid? If you’re a clean A client with a high net worth... maybe

But 7% on a 3 year car vs 0.9% on something fresh off the lot. Who has the lowest cost of ownership?

It’s like people that get upset that they’re best mortgage rate is 4.50% cause the Jones’s got 3.29%!

Yeah! And the Jones’s paid $50k in taxes last year... while Mr. 4.50% wrote everything down and paid close to zero... who is actually winning?

Rates are meaningless without context

Very spot on, this is so overlooked all the time. Well put

[blitz]

I suspect he got a way better deal by waiting and going the social media way than he would have dealing with it the first time the dealer called him.

If you make a mistake that big as a business, you better be owning some of it.

[speedog]

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I suspect he got a way better deal by waiting and going the social media way than he would have dealing with it the first time the dealer called him.

If you make a mistake that big as a business, you better be owning some of it.

You are quite correct, running a business in this social media age just adds extra challenges. As for the dude who bought the X5, it wouldn't come as a surprise to me if he came out one day to find four tires flattened with knives sticking out the side of them.

[lilmira]

free knives!