Business ProfileforFirelands Toyota

On August 3, 2023, I met my granddaughter, ****** *******, at Firelands Chrysler Dodge Jeep Ram, 904 E. Strub Road, Sandusky, Ohio, to co-sign a loan with her. She had already picked out the vehicle and all the paperwork was ready to be signed. We went to the loan officer's office and proceeded to sign the paperwork. I was never informed that I was a co-borrower with her. If I had been informed of this fact, I would never have signed the paperwork. I only wanted to co-sign and be responsible for payments only if she failed to make said payments. I was not there to be a co-borrower on the loan. I did not want to be responsible for the payments nor did I want to share ownership of the vehicle with her. I later learned from Ally Bank that I was a co-borrower and not a co-signer. The other problem I had with this loan officer was that we were not informed that the interest rate was 18.34%. This is a high interest rate for someone with excellent credit (over 800). I agree that my granddaughter has bad credit, but my excellent credit should have given her a better interest rate than 18.34%. The loan officer only informed her of her monthly payment and not the interest rate. I feel that he was in a hurry because we came in when the dealership was almost ready to close. There were others present with us when this paperwork was signed.