In today’s tough economic times it has become a task for Americans just to make ends meet. In spite of challenging times many of us are working harder then ever before, starting independent businesses and striving to obtain the “American Dream”. Unfortunately, post pandemic America has given rise to unscrupulous scammers and an unprecedented level of fraud is over taking the country. I recently fell victim to something known as a “YoYo financing scam”. On 5/21/22 I visited Luxury Auto Mall at 7414 N Florida Ave in Tampa, Fl. I was greeted by a salesman who introduced himself as Andre and explained to him that I wanted to leverage the positive equity in my Mercedes-Benz S Class to trade into a SUV or a Truck. After viewing and test driving a few vehicles I decided on purchasing a 2019 Dodge Ram 1500 Crew Cab. The truck was already fitted with a lift kit which I thought was ideal for Florida’s frequent rainy and flooding weather.  I explained that I was not “upside down” on the financing for my Mercedes and I was aware that my car was valued more then what I owed the bank. Noticing I was reluctant and not overly eager to take any deal terms, the general manager Matt asked me “what do I have to do for you to make this deal happen?”. I explained I was willing to trade in my Mercedes for the Ram truck with $0 cash down leveraging the positive equity in my car for the down payment. He said he could get that done. After I was allegedly turned down by Pen Fed who was the lien holder for my Mercedes-Benz, he exclaimed that I was approved for financing with Anchored Financial. I was told they didn’t require income verification, which I provided in the form of 3 recent pay stubs anyway. Contracts were signed, temporary tags issued and off I went in my new truck. A few weeks later Andre (salesman) calls me to inform me the bank is asking for income verification and for me to send bank statements to the dealership. I informed him that as a rule I don’t provide anyone access to my bank statements but I did provide recent paycheck stubs on the day I purchased the truck even though I was told it was not required. On 6/13/22 I returned to the dealership thinking I was picking up registration tags for my permanent plate only to find out the deal was not funded. It hadn’t been approved at all, and after speaking with Anchored Financial directly I have found out that they never received a application for financing for me until 6/7/22 from Consumer Auto which was denied. They lied about me being approved solely to take possession of my Mercedes-Benz S Class. The dealership was now demanding more documents and trying to renegotiate a deal that I was lead to believe was done nearly a month prior. The demeanor of the GM Matt and an employee only identified as the owner turned hostile and aggressive. Luxury Auto Mall ran several hard inquiries on my credit and sent my information to a different dealership nearby called Consumer Auto who also ran multiple hard inquiries without my consent lowering my scores. I was now expected to redo the deal on their terms with a lower score or turn in the Ram Truck. I agreed to return the vehicle and asked that my Mercedes-Benz be returned to me, Matt then informed me that he’d sold my trade in and I would be leaving with nothing. I told him that’s not legal, either return my vehicle or compensate me for it. He yelled and cursed, snatched the temp plate off the Ram truck and carried on in a provoking manner. With my 2 young daughters waiting in the truck I decided to drive away rather then engage in any further altercation. I contacted Tampa PD and explained my plight, they informed me that my car was a civil situation that they could not intervene, but they would help me retrieve my temporary plate. When I returned to the dealership to wait for police escort to retrieve my plate they’d locked up and left already. The following morning on 6/14/22 a tow truck repossessed the Ram truck. I was charged $75 to retrieve my personal property from the vehicle. I paid with 4 $20 bills and was refused my change. The dealership informed me they will be charging me $75 per day for usage of their truck from 5/21/22-6/14/22 and additional fees for detailing, restocking and repo fees. Leaving my family in a new state with no transportation has caused lost wages, mental stress, anguish and turmoil. I have contacted local news stations and intend to file a civil lawsuit. The Tampa Times published a article in 2019 detailing the scam being perpetrated on unknowing consumers like myself by various dealerships exploiting a “drop delivery” clause that is vaguely explained if explained at all. These type of known predatory tactics cannot be allowed to continue. Inflammatory and explicit racial expletives further conveyed to me that I was targeted as an African American, and after reading the article published about these type of scams they’re known to target minorities, elderly, and low income citizens. I was essentially bilked out of my vehicle and should be compensated for the hardship this has caused my family and I. I also want to ensure that no other family falls victim to these crooks. This business should be permanently closed down.