Press Release Article
Press Release Article:
Van Nuys Maserati & First Tech Credit Union: My Experience With Misleading Warranty Practices and Lack of Support
I’m sharing my experience to help other buyers avoid what I went through during a recent luxury vehicle purchase in Van Nuys.
What should have been an exciting experience quickly became stressful, frustrating, and financially damaging.
During the financing process, I was told that the lender required me to purchase an extended warranty in order for the loan to be approved. Based on that representation, I agreed to move forward.
The customer also states they made additional attempts to escalate their concerns to leadership within, including efforts to reach directly.
According to the customer, despite these attempts, they did not receive a response or meaningful engagement regarding the concerns raised about the financing process and warranty representations.
The customer expressed frustration that, in their view, there appeared to be no willingness from the institution to intervene, review, or assist in adjusting the financing terms based on the allegations that the dealership may have misrepresented required products.
“I tried multiple channels to get someone at the credit union to listen and help review what happened,” the customer stated. “From my perspective, there was no real follow-through or willingness to step in and address what I believe was a serious issue with how the warranty was represented.”
The customer added that the experience has led them to question how disputes involving dealer practices are handled when financing is issued through third-party credit unions.
When trying to address the concern to the CEO Shruti Miyashiro, we were told to contact the legal department as well as told that she would not care or take any concerns regarding our problems.
In the customer’s view, greater oversight and responsiveness from lending institutions may be necessary when significant add-on products and financing terms are disputed after a transaction is completed.
That warranty added approximately $11,800 to the total cost of the vehicle and increased my monthly payment by nearly $200.
After the deal was finalized, I later learned information suggesting the lender may not have actually required the warranty at all. If true, I was misled into purchasing a product that significantly increased my financial obligation.