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Financing advice/issue?

2K views 5 replies 4 participants last post by  zarafernandez 
#1 ·
Hey gang, I need advice regarding financing for my new Civic. My first payment is still not due for a month or so but the lender sent me a letter that they won't finance due to some BS so I went online and applied elsewhere. I went to the dealer the next day after finding this out and the finance manager said it was no problem, they switched banks on me without my knowledge... but I called the new bank to confirm and see what my options were as far as switching to another lender offering a lower APR, but they didn't have any of my information!!! Is this normal ? What should I do? Thanks in advance...
 
#3 ·
well... continue to talk to your laywer and document everything! Every little thing, make sure nothing is said that is not on paper. If they say this is your APR, ask to see it on paper and so forth. Ask your laywer about backing out of this situation, you may want to just simply get out, get your refund back and go to a different dealer.

But it is common (specially for younger people) to be reject by certian banks. My dealer actually searchs about 10 banks, but thye pull my credit history and discuss with the bank what my APR is. The dealer has dropped certian banks out lately because the bank said this rate over the phone, and then when the paper work came through they had a different APR. So my dealer just stopped working with them...
 
#4 ·
since u got a lawyer u might as well sue the dealership for changing backs without your permission which can be said to "distribution of personal information without knowledge from the victim" or somewhere along those lines...
heck i'd do it...get a free si and my deposit back...
 
#5 ·
wow I wish I would have pursued that action, ah another smooth move...The car is fully paid for now and actually it was paid off ahead of time so the apr was not a huge factor, but yes I think you are right. I was younger and with poor credit and limited resources when I got the financing on my first (and only) new car I have ever bought. I forgot about that even happening, well it has been awhile. Time flies!!
 
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