On February 10, 2007 I visited Ocean Auto Sales and spoke with a salesman named David, who never gave his last name, either on his business card, or any other documentation. I asked this salesperson if they could make a 60 through 90 day loan, using our free and clear three vehicles as collateral, he told me that they could make the loan against our 2002 Cadillac Escalade, and our 2002 Chevrolet Silverado King Cab, and that they would buy the Buick Regal for $4,500.00. The total loan amount to me was $18,000.00. Salesperson David stated that the interest would be high if we kept the loan for the entire term, but if we paid the loans off within the 60 through 90 days, the loans would only cost us about $1,000.00. After about 45 days I inquired to Westlake Financial for the payoff amount for the Silverado, I was shocked to learn that the payoff would be around $14,740.00. I asked the woman at Westlake Financial why the payoff was over $14,000.00 when I only borrowed $8,000.00, and she stated that they had loaned approximately $14,750.00 paid to Ocean Auto Sales. When I checked my paperwork, from BMAC I discovered that the amount borrowed on the Escalade was not the $10,000.00 that I received, but over $18,000.00, at that point I knew that we had been defrauded. Ocean Auto was paid over $32,000.00, from Westlake and BMAC.
Pros: Good Location
Cons: Fraudulent Personnel
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