Carbiz Auto INC / converting autoloans to leases, screwing customers more than the original contracts
The biggest rip off car place you can ever buy from, first off you pay 3 times what the car is worth, then they slap on a high 19% intrest rate making your payments being almost impossible to meet monthly, if you are late as of 6pm on friday to make your payment they can turn off your car with a flick of a switch, just for being 1 min late,
here recently they have been going to out to clients homes, to speak with them about converting the original contracts to leases. which is way worse than the original contracts that were originally signed. The company needs you to sign over to a lease because they have to pay if you don't do this by a date.. they are puching customers to sign this when not only can they turn the car off if you are late one time, but take it back from you and you still owe what is left along with an early termination fee. and if u exceed the millage your payments jump higher than they are already. This is a bad deal and do not convert. They are saying they may be able to give you a warranty but no one can get a warranty on a car that you've had for 6 months so dont buy into this. if u can afford it get an attorney to get you out of the bad deal.