Submission Number: 00015 

Received: 4/15/2011 4:54:17 AM
Commenter: Daniel Norman
Organization: 
State: Washington
Agency: Federal Trade Commission
Initiative: Public Roundtables: Protecting Consumers in the Sale and Leasing of Motor Vehicles; Project No. P104811
Attachments: No Attachments
Submission Text
Friday, 15 April, 2011 The car dealers have figured out how to receive their commission from the banks when someone walks on the lot with a Blank Check from Capital One Auto Financing. They have you sign the check and apply for a bank loan on your behalf without telling you. When you find out they say "there was no check" and "you needed financing when you walked on the lot". I had a check for $17,600.00 and paid for the car and ended up with a $20,300.00 loan with Wachovia @ 9% that I know nothing about. The bank seemed to have enough information to approve a loan without talking to me. How do they do this? And what is applying for a loan " ON YOUR BEHALF". If it wasn't for the Lien they had on the car they sold me I wouldn't have found out about this bogus bank loan until a late notice appears in my mail box.There has been enough paper generated on this case I should open a pulp mill. I know there are many question and I would love to answer them all but this forum won't permit. Maybe later. Dan Norman. [redacted]