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Originally Posted by Will's Zee
Well I guess time will tell as they are suppose to give me the heads up about the loan
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This scares me. You gave them money and dont even know if you have the loan yet? This enables them to basically claim whatever they want. I actually signed about 6 papers, the usual paperwork if you have ever purchased a car before, detailing my interest rate, my total interest payments, the MSRP, the price they were selling it for, my trade in allowance, etc etc. EVERYTHING. And they still found a way to act like it was all just "temporary" paperwork.
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In terms of the loan, didn't they give you a courteous call at least to tell you they couldn't get u approved? And at least give you the option of choosing your own damn lender as u could have gotten a better rate?
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The first call was straight from the scammers playbook. "Hello Mr. Smith, how are you today? Good good, hey we just need you to come down to the dealership and finalize some paperwork so we can get this deal completed".
I had already had the car for a week!! As far as I was concerned the deal was done, what else could there be? When I asked he then said "Well, your financing fell through, and we couldnt get you approved for the loan you wanted. But dont worry we have another excellent loan from another bank for just 1% more than your previous".
My face instantly turned red and I was fuming. I said "Well I am really disappointed to hear that. I am going to seek legal council before further contact". I then hit the internet, my lawyer contact, and grabbed all the paperwork I had signed. Sure enough they had me, minus the fact that there was some flaws in the paperwork voiding the whole thing. It turns out I dont have to agree to a change in interest rate of course, so they were basically withdrawing their offer, rather than me having to break it.
I didnt even bother trying to get another loan because I was so pissed. They then knocked off another 2k or so from the selling price to get me back to my original payment figure, but I said no deal, because I didnt trust them with my signature anymore. Kinda sucks because I walked away from the car, but I was honestly too scared to give them 1 penny at that point. I got my deposit back and left.