ComplaintsforSparta Finance

• Initial Complaint

  28/09/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  28/09/2022 they had attempted to pressure me into a loan for 19,800 at 16.9% interest for an atv that was 15k the total payment added up to 30k 255 bi weekly 5 years. When i asked for the break down of the loan they said they would send an email and call back in 20min. they called back and never sent it and just went over 4 different fees so fast i couldn't hear them and never told me the interest rate till i asked 3 times. I declined the loan and then got a text message from the sales rep **** congratulating me on the new atv when i declined the offer they called back 5 min later saying they would give me 4k in cash if i accepted the offer. i said that sounds very sketchy and declined again thats when they got extremely hostile and started saying how i will pay interest on a credit card but not willing to pay them trying to pressure me into saying yes the whole time. The only reason i applied with them was because of their rating on *** this place is a scam and needs to be discredited. unless i get some kind of response from *** i will never trust the *** again.

  

  Business response

  29/09/2022

  Hello Mr. ****** *******,
  
  First of all we wanted to thank you for your feedback and apologize if you felt that the team was projecting "big emotions" and energy. We train our team to come from a place of service and not presssure, although with extremely high levels of passion and charisma it can feel stressful at times when shopping for products and toys such as ATV's. We will take your feedback and continue to train the team to make sure there is are better explanation and communication with our clients in the future. To be clear, the team at Sparta's main focus is to serve our clients, and to get them the best interest rates possible. Just like auto insurance when you get in many speeding tickets, and accidents that are at fault, such as credit and having "bad" credit or high risk credit for not paying loans back, and writing off loans with lenders - the rate is subject to the consumers credit portfolio and other factors. We offer rates as low as 5% OAC. "on approved credit" - and 16.9% would have been the best result achieved based on the information submitted. It is also clear that you chose not to proceed with a loan through Sparta Finance, rest assured we will mark you on our do not contact or lend list so you can be free to take your loan opportunities and business to other dealerships or lenders. Thank you for the opportunity to serve you, since there was never a transaction here, and misunderstanding on bank rates we feel that there is no valid complaint. Thank you
  

• Initial Complaint

  21/06/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Date of Transaction: June 16, 2022 - bought a used 2011 Can Am Commander 1000 XT, Unit was listed on Kijij add privately for $13,500.00, Sparta Finance charged me 19,394.00 plus Lender Fees and PPSA, total less the tax of 20,444.60. - found an add on Kijiji for a new 2022 Can Am Commander 700XT, was advertised at $122 bi-weekly. I need a UTV for work, I called about this unit they right of way asked if I would be financing it and I said yes. (Still on Kijiji for sale by Sparta today) - I get a text message back from them in a very short period of time saying I am approved with two banks and that they need more of my business information to seal the deal. - A few days go by, everything is good to go so I ask when I can pick the unit up. Their reply, that one is not available. Ok, well what did I just complete my financing on or for then?? She said I was approved for $36,000.00 and could pick through anything they had in inventory or find something on line and finance it through them. "Besides, that one is to expensive anyway, its like $42,000.00" she says. Which is a lie, they list from the dealer new at $20,000.00 - They have numerous adds on kijiji for UTVs so I find a couple I like, they have none of them, they are all sold. - I find one currently on Kijiji by a private seller. I forward her the Kijiji add and she said she would take care of everything. - get a call, UTV is mine. monthly payment close to $300 bi-weekly. Ok! - they tell me all the added stuff I don't need, $2000.00 for warranty, I don't need it or want it, they threaten to cancel deal. get payment down to $259.00 bi-weekly. - hurry sign the papers so we can pay the seller - Get loan papers, assume the $19,394.00 includes the cost of borrowing over the term. sign the papers and I just paid $5894.00 over asking price, plus Lender fees. - talk to the seller, he said they offered full price, no questions asked. Then tried pressuring him into sell trailer with it knowing I needed one.

  

  Business response

  22/06/2022

  We want to start by thanking ***** ******* for his interesting point of view and opinion and taking the time to write this customer experience for us to review. Our priority is to strive for customer satisfaction and fulfill their requests as much as possible.
  The payments advertised on our in-stock inventory state that they are subject to financing approvals "on approved credit" - and have many factors involved such as qualifying for certain terms, and interest rates, possible down payments etc...
  In the case of the transaction completed with ****** he did not qualify due to credit factors and many other factors such as bank interest rates, payment history, debt ratio, and higher risk credit scoring. Our goal at Sparta Finance is to work hard to get clients the best interest rate possible.
  
  In this case ***** was given an opportunity to help find a product which we typically do not give to any client. ***** found the product himself and we gave him the opportunity to complete the financing on the product through us, we are a fully transparent company - we explained to ***** as we do to all of our happy clients that we need to make a certain amount of profit on every product - as we are a business and we have costs involved in operating the business in order to serve clients like *****.
  
  In this case the price he pays is the price we pay - therefore we must make a certain amount of profit and markup on top of the paid purchase price. The bank has fees especially for high-risk clients, and the Government charges fees as well, taxes, etc...
  
  The warranty was optional, and ***** chose to decline the warranty.
  
  ***** was explained the breakdown of our profits, process, and costs of services or "fees" involved, taxes, and bank fees.
  
  ***** had been explained and fully agreed to the price, the payments, the interest rate, therefore we submitted the documentation to him via e-mail at 06/16/2022 10:55 a.m. PST after he had agreed to the terms and conditions of the loan in full disclosure verbally via telephone.
  
  ***** had opened the documents at 11:14 a.m. PST on 06/16/2022 - ***** signed the documents at 11:21 a.m. PST. In between signing ***** had asked his Sales/Finance Rep ********* ********* for the breakdown again of the pricing where we sent him a breakdown of all costs, fees, pricing, and an explanation again via text message before he finalized the agreement and insurance to complete the loan contract obligations with the bank.
  
  ***** had a chance to decline the signing of the documentation while reviewing the documentation, ***** reviewed the documentation and chose to sign the documentation to agree to the sale and loan. ***** was in his own physical space away from any sales rep as we are a virtual dealership - therefore there was zero pressure involved in the sale or finance process.
  
  ***** had committed to signing the contracts and finalizing the deal. We feel that we have delivered on every promise and fulfilled the transaction entirely.
  
  In our opinion we conclude that ***** gets to enjoy a great summer with his beautiful new side by side toy and have a lot of fun while he builds his credit! We do not agree to pay ***** anything as we have made less profit than we do on an average deal than in *****’s case with most clients – we offered him a discount on our profits, and we do not agree with paying ***** any amount, we are grateful to serve our clients. Not many people get to pick their own product with challenged and high-risk credit like ***** and purchase or finance that product they choose anywhere in Canada. We hope that he enjoys his summer with his awesome side by side!
  We trust this is satisfactory,
  
  ******* *
  Head Banker
  
  

  Customer response

  22/06/2022

    ********** ********
  
  I am rejecting this response because:

   

  Sparta Finance is a group of thieves hoping they can suck people into their lies. The breakdown from Cristina via text message was at 3:26pm Pacific time which is 4:26pm Mountain time, long after the papers were signed. You are right about one thing, I did agree to pay 16,500.00, $3000.00 above asking price. That was what I agreed the total amount of the loan would be, not adding more into it. Hence the reason why I thought the 19,394.00 included the cost of borrowing.  Thank you for pointing that out. 

  The machine I actually applied for is still on Kijiji, its been put on there multiple times, its a scam! Then you go out of your way making it look like you are doing your best to help a person out and then you do everything in your power to take advantage of them. You tell them their credit isn't very good but you're going out of your way to make this happen.

  You stated you normally make way more on a deal than what you did off of me. Exactly how much more would I have paid if I didn't initially turn down your financing?

  
  Sincerely,
  
  Brent Calvert

  

  Business response

  23/06/2022

  Again we thank *** ******* for his interesting opinion, we have attached the certificates and e-mail time stamps of the viewed to sign documentation timeline and proof for your records. Nonetheless *** ******* had an opportunity to view and sign (accept) or decline the documentation via docusign. Docusign gives you an option with a large button in the first step that states "ACCEPT" or "DECLINE" - *** ******* reviewed the documents, and was also sent a breakdown of all of the numbers via text message after the verbal agreement was completed. We are much like a mortgage broker company - in today's market people do not go house shopping until they have a pre-approval in place. We work on getting the loan opportunity then we go shopping from there. Due to *** *******'s "poor" and high risk credit he did not qualify for the product he originally inquired on. We have hundreds of products, we custom build our products, we also import products across North America, and we have access to unlimited inventory Nationwide. We also state this on our advertising alongside that the machines are moving quickly however these machines are much like lego we build them non stop and can get anything anyone wishes or desires for as long as they qualify for the financing. The question we have is why did *** ******* press accept and take the time to review the documentation, agree both verbally and via docusign to the contract after viewing all of the numbers on the bill of sale and contract if we are such "thieves" as he suggests? Why not just decline the sale in the multiple opportunities that were given? This sounds a lot like buyers remorse in our opinion, and we truly wish *** ******* the best of luck in the future.
  
  Thank you,
  
  ******* *
  Head Banker

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩