Text from a Reddit thread
reddit | u/redditadmindumb87

Man Is Stuck Paying Expensive Car Loan, But Friend Finds Out Dealership Committed Bank Fraud, Blackmails Them

Owning a car is mostly great. But one of its biggest downsides is having to interact with the dealership in any way. A lot of them are shady, and frankly kind of suspicious. Dealers love talking you into more expensive models or added features, which can sometimes mean you end up taking on a more expensive car loan than you can actually afford.

This is exactly what happened to a Reddit user's friend, and when he realized he couldn't keep paying his car loan, he recruited the user to help. The user posted his story to ProRevenge on Reddit, sharing how he got his friend out of that situation.

User redditadmindumb87 Posted His Long Yet Pretty Incredible Story

A user explains his friend's financial situation and how he can't afford his car payments.
reddit | redditadmindnumb87

The user realizes the car dealership committed tax fraud and uses that to attempt to get the friend out of his car contract.
reddit | redditadmindnumb87

In the end, the friend gets a new car and the old loan canceled.
reddit | redditadmindnumb87

The Story Starts Back in 2020 When OP’s Friend Bought a New Car He Couldn’t Afford

The back decal of a For Focus vehicle.
Unsplash | Robin Mathlener

OP talks about how his friend's car payments were nearly $800 per month, but he only makes an annual income of around $17,000. Because of this, the friend realized he couldn't keep paying, and wanted to figure out how to get out of his loan. OP, who has experience working for car dealerships, went through the paperwork to see if he could find a way to get the dealership to cancel the loan.

He quickly realizes there's no way the bank would approve such an expensive loan to someone who doesn't make that much money. He went through more paperwork and learned that the dealership had actually committed bank fraud to secure his friend's loan.

Knowing this, OP and the friend confronted the dealership and threatened to take them to court if they didn't reverse his loan and get him a replacement vehicle. After a lot of back and forth, they manage to get him a decent car, and the loan is completely reversed.

Commenters Reacted to the Amazing Story

One user cautions that the friend should learn financial literacy to prevent this kind of thing from happening again.
reddit | rocksfly

But some believe that the friend needs more financial literacy. It's important to understand what you can and can't afford, preferably before you go and overspend on a car or another large purchase like that.

Others Felt That It Might’ve Been Best for OP To Report the Dealership Anyway

One user wonders if it would've been best to report the dealership.
reddit | Nadmaster101

While some users left comments telling the OP to report the dealership, OP replied and talked about how this is something that a lot of dealerships do, and reporting it would be kind of pointless.

Plenty of Users Shared Their Own Dealership-Related Stories

One user shares a story about how their lawyer friend busted a dealership for putting fake stickers on certain cars.
reddit | dajur1

Users shared plenty of stories, including this one where a user's lawyer friend busted a dealership for putting stickers for one model of car on a completely different one.

OP admitted to doing that in the past, but only with the customer's express knowledge and permission. The world of car dealerships is so weird.

h/t BoredPanda