1 /5 Danielle Edmond: I applied for a vehicle loan. Talked to a guy named David Scholtz. He informed me that I had past due student loans. I had no idea bc I never went to college and said I would dispute it. We proceeded with the loan, got a bill of sale, drove 2.5 hours to see the ehicle and test drive it, Dave sent me my monthly payment amount. I asked for the APR percent. He said to Google it. I said what do you mean? You cant tell me what percent Im signing for? He said to google the Rule of 78. I was off-put that he wouldnt tell me but I googled it and replied too him, that according to Google, that lenders, even ones usuing the Rule of 78, have to disclose the amount of the APR... so then he emailed it to me. I set everything up with the dealership to proceed. After realizing there was a closer location, I asked to have my application transferred so i wouldnt have to drive across town to complete the loan. I had even made sure that they werent commission-based so there will be no loss to Dave and they arent. They said they would transfer it. The next day, I called again and they said I was now denied. I asked why, they said bc I had student loans. I said, he knew that before we started. HE was the one who even made me aware of it. I tried to talk to him twice and he was "busy" each time. I never said anything negative or raised my voice but let it be known my experience was extremely disheartening and ppl need to know how they operate.
