The following occurred during the week of June 9,2014. I made a withdrawl from the Arizona Federal Credit Union branch at 5151 North 19th Avenue in Phoenix. The teller I was dealing with informed me that there was a message that I was pre-approved for a car loan of up to $15000 if I acted within the next thirty days. LIE 1 – it wasn’t $15000. I spoke to Loan Service Consultant Jennifer G. at this branch. She took all of my information and went to the loan underwriters in their office. The loan amount shrank to $12000. I asked what happenned to the $15000 amount. Coldly informed with no explanation that that amount wasn’t possible. LIE 2. Was provided a listing of cars that the Credit Union had available to purchase from CENTENNIAL LEASING on 56th Street in Phoenix that would be within the loan amount What I was informed was that there was five different vehicles that met the criteria – including a 2007 Toyota Corolla with 56000 total miles.LIE 3. The car actually had 78000 total miles on it. Then I received a call from Danny M at CENTENNIAL LEASING stated that the car was there and would be ready in three days – they wanted to touch up paint a spot on the car and have it detailed. LIE 4. Received a call on June 13, 2014 from Danny M at CENTENNIAL LEASING informing me that I needed to come to their location at 480 North 56th Street in Phoenix to “complete loan paperwork”. Strange, I was told that I had loan paperwork all completed by Loan Consultant Jennifer G. at the Arizona Federal Credit Union. LIE 5. Suspicious of Danny, I immediately called Jennifer G. at Arizona Federal and was told that I would need to put $1900+ DOWN PAYMENT on the car, after I was previously told by her that the loan amount would cover sales tax, inspection and license. This was the first time I was told I would need to pay nearly $2000 out of pocket costs. I informed Jennifer to call Danny, call the loan underwriters, and CANCEL THE FREAKING AUTO LOAN! LIE 6 – Arizona Federal Credit Union and Centennial Auto Leasing openly participant in what is known as a Yo-Yo auto financing. Telling the lendee that they have approved financing and lining up the sale of a specific vehicle. Then they unethically drop the “down payment” need on the lendee at the last possible moment. I had gotten car insurance for this vehicle and made the “binder payment” to Progressive Insurance. My recommendation: never do business with Arizona Federal Credit Union and Centennial Auto Leasing – EVER.
This complaint and/or review was posted on HolySmoke.org on 06:15 am, January 10, 2019 (CST) and is a permanent record located at: https://www.holysmoke.org/scam/arizona-federal-credit-union-review/.
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