My wife and I applied for a vehicle loan last month and were approved. We found the car at a small dealership out of state and I was having the car shipped to my home. Long story short, the vehicle never arrived and I filed a police report.
It turns out that this criminal targets small dealerships around the country, steals the dealership information, owner information, creates a website, and sells fake cars. Needless to say, the case is ongoing.
USAA vetted the dealership, spoke to them and completed the paperwork, and then wired the money. $70K in total!!!
According to the local investigator, this happened to another USAA members also.
When I spoke to the USAA Fraud Depatrment when this all went down, the gentlemen that I spoke to seems like they were going to take care of the debt and not hold me accountable for the loan with no car/asset.
I was told to call back three days later, which I did, and I was passed around from one USAA rep to another. I then spoke to another gentlemen in the financing / fraud department I am guessing.
He was not very customer service oriented to start, and then just came out and said to contact my local Attorney General and that there is nothing he could do.
Really saying, hey sorry for your bad luck "Jack", but you still owe USAA the $70K!!!
Talk about shocked!!!
I wrote a letter to USAA, but again have not had any response.
Anyone ever experienced this? I thought banks that vet a dealership have skin in the game also when something like this goes down?!?
Marion83, Thank you for taking the time to post your experience. This is definitely concerning to hear. I've located your information and forwarded it to a subject matter expert for further investigation. They will reach out to you as soon as possible. - Ben