Complaint History & Business Rating for Dakota Financial

11766 Wilshire Blvd #550,, Los Angeles, California, 90025, United States.

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  • Commented By:Rick W.
  • Recommended:No
  • On:24-Mar-2020
Rick W. says: We were recommended to use Dakota Financing by Ritchie Bros auction for the purchase of a service Truck for our company.
Things went smoothly, we obtained an approval letter stating our amount of approved financing and terms.
We agreed to all (including 25% cash down) ... fast forward now to the auction, we bid on a service truck that met ALL the requirements that were stated to us and I triple checked everything before we purchased!
We win the auction, send over all paperwork as we were told we needed to w/I 24hrs after the sale.
We let them know that the truck had to be paid for within 7 days and picked up within 14 days.
I checked in daily as we never got updates from Dakota Financing w/o me inquiring first.
5 days AFTER the sale, 2 days PRIOR to the truck having to be paid for Dakota Financing tells us that the truck we purchased had more miles than they are comfortable with, IF we give them 40% cash down they'll do it but otherwise they are withdrawing their approval! 48hrs PRIOR to the truck having to be paid for because we are now in a legal agreement with the auction company. We made the purchase with a prior approval that the finance company decides to back out on at the very last minute! This has cost us late fees and allot of stress trying to coordinate everything over again! Extremely unprofessional and I would/ will be letting every source possible know what a scam this company is and to not trust them to do business with! We are looking into legal recourse due to the situation they left us in. There is no fine print, there is nothing we missed! Mileage was NEVER stated as a requirement for our loan ever! Asking for 25% down and then upping it to 40% down is nothing short of a scam and we definitely will be taking legal action to see that other small businesses do not get taken advantage of or scammed as well!
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Dakota Financial’s Complaint History (2):

2 claims are currently posted for public review and comment :

    • Claim
    • Seeking:

    Y.Z. vs. Dakota Financial

    • "I just feel ripped off."
    • Bad business practices
    • Customer service runarounds
    • Overcharge or billing error
    Claimant says:<p>I used Dakota Finantial to finance a truck that I bought from Ryder for $45,500, so maybe they are both responsible. I put $18,224 deposit, which is 40%, Dakota Financial payed $27,276. My payments were $1,248.00 per month.  Within the first week, the truck was not working. Dakota Financial would not help me at all. I asked them many times. They...
    • Claim
    • Seeking:

    C.K. vs. Dakota Financial

    • "I just feel ripped off."
    • Bad business practices
    • Customer service runarounds
    • Problem with a service
    Claimant says:This company Business Funding Solutions had found my husband a company that would finance an equipment to help with his credit standing. This company Dakota Financial somewhat helps unfortunate businesses with not so hot credit get back on their feet with a little higher interest and monthly rates. We signed on with this company through Business ...

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