dealer screwing wit me

[3.5@utoGrip]

hey everyone, i think im being screwed by the dealers, so i need you guys help...

so i purchased a car a little bit over two weeks ago, and finanaced it just under my name. then exactly one week later, the dealer called me and say that the bank wants a cosigner... so i brought one out and finish the paper work again.

now, two weeks later, they called me again and tell me that the bank don't want to approve because the car is too old (2000 mr2 spyder)... so this really pisses me off. why give me the car in the first place if things aren't gona work out..

so my question is, what can i do about this situation? and is what they are doing legal or not? by the way, this car was purchased at an actual dealer (acura), not one of those privately owned places.

thanks for any feedbacks

[Elbow]

Weird.

[cornercarver78]

They were just being dumb. They let you take the car before they got your loan bought because usually if someone leaves w/o the car, by the time they get the loan bought a week later the customer has changed their mind and doesn't want the car anymore. You'll probably just have to give the car back and get your down payment back, unless you can come up with a lot larger down payment. Sucks!

[3.5@utoGrip]

it pissed me off the first time they call and say they want a cosigner.... i thought every process was done when i drove the car off the lot... BUT NOOOO they called me for a cosigner, then now they call me two weeks later saying they dont wana approve it....

this is not wat i was expecting out of a big dealership.... this gives me a another reason to hate salesmans

[Elbow]

Don't give the car back, or at least do some bad ass stuff in it, slicken the tires, flat spot them, drive in 1st, wear it out.

[3.5@utoGrip]

if all else fails, im gona dog the shit out of this before i give it back LMFAO

[Sammich]

GO TO A CREDIT UNION AND USE THE CAR AS COLLATERAL

[cornercarver78]

GO TO A CREDIT UNION AND USE THE CAR AS COLLATERAL

Um, he'd have to have the title, which he doesn't.

[Princess12]

So wait a minute... how were you able to purchase a vehicle without financing approval? I work for a pretty reputable dealership, and I have never heard of such. None of our cars leave the lot until it is a done deal.

[umairejaz]

Enjoy the 3 week free ride.

It is surprising how desperate dealers are getting.

[3.5@utoGrip]

So wait a minute... how were you able to purchase a vehicle without financing approval? I work for a pretty reputable dealership, and I have never heard of such. None of our cars leave the lot until it is a done deal.

exactly, thats the main thing thats goin thru my head right now..!! i bought this at the acura dealer on jonesboro road across the street from nissan and toyota south

[Sammich]

Um, he'd have to have the title, which he doesn't.

NO HE DOESNT...HAVE THE CREDIT UNION TO FINANCE IT VIA LOAN. THEY'LL PAY THE DEALER AND THEYLL HAVE THE TITLE TIL ITS PAID FOR

[3.5@utoGrip]

i put in hids, got tein stechs, and some other small mods... now gota take them all out...

[umairejaz]

NO HE DOESNT...HAVE THE CREDIT UNION TO FINANCE IT VIA LOAN. THEY'LL PAY THE DEALER AND THEYLL HAVE THE TITLE TIL ITS PAID FOR


^How exactly do credit unions work? How can they give such a low interest rate?

[umairejaz]

i put in hids, got tein stechs, and some other small mods... now gota take them all out...

That sucks.

[Sammich]

^How exactly do credit unions work? How can they give such a low interest rate?

I DUNO HOW THEY GIVE SUCH LOW INTEREST RATES, BUT ITS BETTER THAN BANKS..I THINK MY INTEREST RATE IS AT LEAST 3% LOWER THAN IT WOULD BE AT A BANK. THE ONE HERE WHEN I FIRST GOT MY TEG ALL I HAD TO DO WAS OPEN A SAVINGS ACCOUNT HAVE $25 IN IT, THEN THEY DID MY PAPER WORK AND I HAD MY CAR THE NEXT DAY

[Princess12]

I DUNO HOW THEY GIVE SUCH LOW INTEREST RATES, BUT ITS BETTER THAN BANKS..I THINK MY INTEREST RATE IS AT LEAST 3% LOWER THAN IT WOULD BE AT A BANK. THE ONE HERE WHEN I FIRST GOT MY TEG ALL I HAD TO DO WAS OPEN A SAVINGS ACCOUNT HAVE $25 IN IT, THEN THEY DID MY PAPER WORK AND I HAD MY CAR THE NEXT DAY

Credit unions are "private," opposed to banks which are public. Pretty much anyone can open an account at your local Suntrust, Wachovia, etc; however, credit unions are non-profit cooperatives with selective members from companies, communities, schools, etc.

[Sammich]

thanks for the info princess...A/S/L lol jk

[Princess12]

exactly, thats the main thing thats goin thru my head right now..!! i bought this at the acura dealer on jonesboro road across the street from nissan and toyota south

Ask to speak to the sales manager and drill him as to why you were led to believe that your financing was secured and you were the owner of this car. I'm surprised that they even told you that you would be able to get financing on a car that old. Most companies including banks would not be willing to supply a loan for a used vehicle that is almost 10 years old. Go to the dealership and sit in the general manager's office until they get this resolved. They have more power than they lead you to believe that they have.

[umairejaz]

Credit unions are "private," opposed to banks which are public. Pretty much anyone can open an account at your local Suntrust, Wachovia, etc; however, credit unions are non-profit cooperatives with selective members from companies, communities, schools, etc.

I understand all that, I just dont see where the difference comes in the way they do business vs a bank. CU usually give insanely low interest rates. Can you simply join any credit union and how strict are they on credit? Do they only want prime plus or do they work with prime and subprime scores?

[Princess12]

thanks for the info princess...A/S/L lol jk

Anytime.... I hate when dealerships run all over people.

21/F/Suwanee LOL

[stillaneon]

hey everyone, i think im being screwed by the dealers, so i need you guys help...

so i purchased a car a little bit over two weeks ago, and finanaced it just under my name. then exactly one week later, the dealer called me and say that the bank wants a cosigner... so i brought one out and finish the paper work again.

now, two weeks later, they called me again and tell me that the bank don't want to approve because the car is too old (2000 mr2 spyder)... so this really pisses me off. why give me the car in the first place if things aren't gona work out..

so my question is, what can i do about this situation? and is what they are doing legal or not? by the way, this car was purchased at an actual dealer (acura), not one of those privately owned places.

thanks for any feedbacks

There is nothing you can do.

When they say you are approved, it basically means that from their experience, they can get you a car.

If they can't, you have no choice but to bring back the car.....

[stillaneon]

So wait a minute... how were you able to purchase a vehicle without financing approval? I work for a pretty reputable dealership, and I have never heard of such. None of our cars leave the lot until it is a done deal.

Chances are more cars leave than you realize without a "done deal"

[Princess12]

I understand all that, I just dont see where the difference comes in the way they do business vs a bank. CU usually give insanely low interest rates. Can you simply join any credit union and how strict are they on credit? Do they only want prime plus or do they work with prime and subprime scores?
You have to have an excellent credit history if applying as a stand alone member. Most of them only accept applications for new members during enrollment periods. Some are willing to work with prime, but most will require prime plus. Others require you to fulfill certain requirements such as being employed by a specific employer, being a family member of a current member, etc.

[Kevykev]

Just enjoy the free ride,

Shame on that dealership, i've heard of people having to take back cars.

Don't stoop to the level of dogging the car though, i guess that totally depends on the type of person you are.

[umairejaz]

^Reps for morality. To OP, next time just look out of these things, ask the right questions and learn from experience.

[Sammich]

Anytime.... I hate when dealerships run all over people.

21/F/Suwanee LOL

:lmao::lmao:

but yea when i went to the dealer..i had the credit union on standby...everytime i got/bout to get a car, they are like all u have to do is send us the bill of sale or w/e they need and they process it and give me/them the money and im good to go

[Princess12]

Chances are more cars leave than you realize without a "done deal"

I'm sure there have probably been some instances, but I have never seen it happen. I guess it's because we sell luxury vehicles and we have a very different client base.

I guess I never really thought about it though... when I purchase a vehicle, I come with my own financing, already approved, ready to go.

[umairejaz]

You have to have an excellent credit history if applying as a stand alone member. Most of them only accept applications for new members during enrollment periods. Some are willing to work with prime, but most will require prime plus. Others require you to fulfill certain requirements such as being employed by a specific employer, being a family member of a current member, etc.

So basically they take the extra effort in securing their loans. Thank you so much for the information. Reps received.

[Princess12]

So basically they take the extra effort in securing their loans. Thank you so much for the information. Reps received.

Yes, they want to see where you money has been. You're very welcome!

[TIGERJC]

I love Ga's own, my interest rate is 5%. Try to go with a credit union

[Princess12]

I love Ga's own, my interest rate is 5%. Try to go with a credit union

My husband uses Georgia's Own... great interest rates!

[3.5@utoGrip]

wheres the credit union place around atlanta? just incase this will be my last resolve

[§treet_§peed]

damn dude that sucks. how much did you put down if you don't mind me asking?

[Princess12]

wheres the credit union place around atlanta? just incase this will be my last resolve

Your best bet is to try and secure a personal loan with your bank, or see if they would be willing to do a used car loan for a 2000 model.

Georgia's Own Credit Union
www.georgiasown.com

You can apply online.

[ksniperfox]

when i got the s2k in 10/08, i had to have a cosigner due to me not having a credit history. i mean i make the payments and all, but i drove the car home. we agreed on a down payment amount, but we finished the contract and i left without ever giving them any money. they came back a week later saying the contract had to be re-done with my cosigners name first, as they had the credit history for loan approval. so we did that.

then another week later i got a phone call saying they never got my down payment and cant do the loan without it. i guess i had a free ride for a couple weeks and coulda dogged the fuck out of it before giving it back, but after all i wanted the car and just came in and paid it.

but i guess if the loan doesnt go through, they can send their repo guys out lookin for you, or you can give it back. im just wondering what would happen if you canceled your insurance, wrecked it on purpose and leave it, and say it was stolen. not saying thats a good idea, but just curious, since the contract never went through the bank.

[JeremyEvoX]

Let me ask this Princess, since you work at a dealership. When you are signing your paperwork, is there something you sign that says you will bring the car back if the loan falls through or something?

If so, you gotta take the car back.

If not, I say you have bought the car. You have a bill of sale. Do what you're supposed to do and go up there everytime your bill is due and pay the dealership. Don't give them a reason to repo it. That is if you are just in love with this car and have to keep it. If you really don't care either way, it's probably not worth the trouble. You may even want to ask a lawyer. Most attorneys will give a free first consultation and then charge you if you have them do anything. Again, this is only if you feel you have to have the car.

[Princess12]

Let me ask this Princess, since you work at a dealership. When you are signing your paperwork, is there something you sign that says you will bring the car back if the loan falls through or something?

If so, you gotta take the car back.

If not, I say you have bought the car. You have a bill of sale. Do what you're supposed to do and go up there everytime your bill is due and pay the dealership. Don't give them a reason to repo it. That is if you are just in love with this car and have to keep it. If you really don't care either way, it's probably not worth the trouble. You may even want to ask a lawyer. Most attorneys will give a free first consultation and then charge you if you have them do anything. Again, this is only if you feel you have to have the car.

If the loan was not secured, he should have signed paperwork stating that the terms of the contract and bill of sale were contingent upon the approval of financing.

[Princess12]

If he used dealer financing, which he did, the paperwork he filled out was not a contract for financing, it was an RISC or Retail Installment Sales Contract which does have clauses stating contingency on financing. Spot delivery is the lazy salesman's way of getting things done.

http://www.georgia.gov/00/article/0,2086,5426814_39039081_43094224,00.html

[4dmin]

sucks dude i would totally dog it, strip your stuff off of it and call it a day

[isa2o3]

let the oil out and leave a little maybe and ride the shit out of it. put some metal shavings in the motor, that should do the job

[RandomGuy]

chu talkin bout willis?,

in class bored

[stillaneon]

I'm sure there have probably been some instances, but I have never seen it happen. I guess it's because we sell luxury vehicles and we have a very different client base.

I guess I never really thought about it though... when I purchase a vehicle, I come with my own financing, already approved, ready to go.

Well most people don't even realize it. because they sign a contract etc.

but in there it does state that if there is an issue with financing, you are required to return the car.

[Julio]

l-o-l @ Princess...

Alot of dealerships do this... Why you think most require you to get insurance before you even leave the lot..

Before buying a car.. do research man.. instead of looking like a complete jackass online.

[Doppelgänger]

LMAO@ financial information given over IA.... this is just the place I go to get answers on such topics. Fluck calling the bank, or going to the dealership and speaking with the manager. On top of that, i'm going to vandalize a car that the dealership owns because an outside bank decided to decline a loan that they deemed to not qualify to their standards. You sir, are a winner.


BTW Princess, many credit unions allow general public going people to get loans, but some give better loans to members/employees of orginizations who have contracts with them. Ask me how I would know ;)

[BanginJimmy]

I'm with Dopple on this one. Ragging out the car only hurts the eventual owner of the car, not the dealship that will take VERY little off the price of the car, if they take anything off at all.

[Alan®]

hey everyone, i think im being screwed by the dealers, so i need you guys help...

so i purchased a car a little bit over two weeks ago, and finanaced it just under my name. then exactly one week later, the dealer called me and say that the bank wants a cosigner... so i brought one out and finish the paper work again.

now, two weeks later, they called me again and tell me that the bank don't want to approve because the car is too old (2000 mr2 spyder)... so this really pisses me off. why give me the car in the first place if things aren't gona work out..

so my question is, what can i do about this situation? and is what they are doing legal or not? by the way, this car was purchased at an actual dealer (acura), not one of those privately owned places.

thanks for any feedbacks
They gave you the car in the hopes they would be able to push the deal through the bank. I used to work for a dealer trust me we used to do it all the time. Only thing you can do is seek financing on your own or return the car.

[redrumracer]

id say try to find alternate financing if you really like the car, make it work, or since the dealership now knows they cant get something that old financed they may be willing to get rid of it at a highly reduced price. something to think about.

[stillaneon]

LMAO@ financial information given over IA.... this is just the place I go to get answers on such topics. Fluck calling the bank, or going to the dealership and speaking with the manager. On top of that, i'm going to vandalize a car that the dealership owns because an outside bank decided to decline a loan that they deemed to not qualify to their standards. You sir, are a winner.


BTW Princess, many credit unions allow general public going people to get loans, but some give better loans to members/employees of orginizations who have contracts with them. Ask me how I would know ;)


OH!! Oh!!!

I'll bite...

How would you know??:rolleyes:

[umairejaz]

id say try to find alternate financing if you really like the car, make it work, or since the dealership now knows they cant get something that old financed they may be willing to get rid of it at a highly reduced price. something to think about.

The bank will finance anything if the credit is there. Do you think this is the first vehicle they are selling? This is all depended on the individual's credit score and in this case his score/credit history isn't enough to justify the risk.

[jfman]

They spotted you the car the finnacing fell thru. This happens all the time.

They let you have the car because they did not want you to change your mind while awaiting credit. It's all about closing the deal right away even if that means the deal may fall thru due to credit refusal.

[FasTech]

Well make a video of you doggin' it out, etc.... Before you take it back....Hahaha

[J-ROCK]

i say take it back and talk to them to see if you could work something out who knows they may drop the price so you can get it

[Frög]

i put in hids, got tein stechs, and some other small mods... now gota take them all out...

make them remove the parts and reimburse you the purchase of those parts.. Worth a try..

[FasTech]

i say take it back and talk to them to see if you could work something out who knows they may drop the price so you can get it


Are you serious? :thinking:



Jason, thats just dumb.

[J-ROCK]

[QUOTE=Fast-Tech™]Are you serious? :thinking:



Jason, thats just dumb.[/QUOTE

a guy i work with did this with his jeep and they actually lowewred the price so the bank would finance it!

[§treet_§peed]

more than likely they will work with you and possibly lower the price cause they need the money. they are hurting whether or not they will admit it. THEY NEED ALL THE MONEY THEY CAN GET.

[Doppelgänger]

OH!! Oh!!!

I'll bite...

How would you know??:rolleyes:

I dunno... maybe because I've has 3 loans through credit unions without going through an association (work/school etc...). Something tells me that is pretty good proof against what was said about having to be a member of something else in order to be considered for a loan at a credit union. Currently, Georgia's Own (formally GeorgiaTelCo) is who I have my car loan with...and they rock.