Originally Posted by Pharmacist

Right now, words cant describe how goddamn pissed I am!!!!!!!!!!!!!!
Ok, here's the story.

I was able to locate a yellow 370 with sport package, no navigation, brand new, literally my ideal combination! Test drove it on Tuesday. Went back to dealership, and made an offer for 1000 bucks below sticker (i.e. CAD 44500) and dealer accepted, no questions or hassle. So I filled the credit application for the financing with 8000 downpayment and the rest to be financed over 2 yrs at 5.9%.

So today I call the salesman to inquire about the status of my loan and he got the F&I woman to call me later today. She told me that my credit application was rejected cuz I don't have a history of credit and I can either get my parents to co-sign my loan application or she can try to put the application through a bank, but at a possibly higher rate!

I was pissed, but thought perhaps my credit score was low (I never checked it before). So I went and checked it online via TransUnion Canada and found my FICO score was 760! It was rated as "good" (which is just one step less than excellent, the max. rating they have) , and higher than that of 58% of Canadians!

So I called the woman again asking wtf is up! She said Nissan rejected it despite my high score cuz I have no history of borrowing large sums of money and that I have a few credit cards with small credit that I do not use (which is partially true, I rarely use credit cards, and the ones I have are low credit limit, like 5000 CAD or so, from my days as a student). What I unfortunately forgot to tell her, but is already stated explicitly on my credit history that I'm sure they read, is that I DID borrow a large sum of money. That was around 45 grand from the government for my student loan in university, and that I already paid off more than half of it (around 24 grand) since I started working as a pharmacist last January. Thus, she said, Nissan thinks I'm a high risk applicant and will need my parents to cosign. She later said she'll try and put it through the banks and will call me later to update me.

That's the story in a nutshell. I woke up today ecstatic that I'm gonna be driving my own 370 by the weekend, but now I'm just angry, upset, and depressed cuz of the BS treatment I received. I'm no teenage high school kid. I'm a 25 yr old pharmacist. No way in hell I'm gonna walk into a dealership dragging mommy and daddy behind me to cosign for me. And my good FICO score should be enough for them. I'm buying a Nissan, not a Ferrari or Lamborghini.

At this point, I'm thinking f##k Nissan and their cars. If that's how they do business, I will take my business to another company. If they don't give me financing at 5.9%, then congrats to them. I won't ever pay a single penny to Nissan for the rest of my life.