2013 Purchased last week...Dealership calls me today and says...

after all this you still gave them the $2000 and closed the deal?

You should have walked, my experience with car dealers (and I knew many a car salesman personally in my younger days) is the sales side is most apt to screw with you on financing and 'come back' financing offers...they want you to be so in love with the purchase you won't back out...

You should have backed out, I am assuming you are a youngin', I know how I felt when I was younger and found what I wanted, I blinded myself with the ownership, not realizing the best thing I could have done was WALK with my trade in and go somewhere else...youth sometimes rules the mind, unfortunately....

 

That's all fine and dandy....but what were they going to do if you didn't have 2 grand sitting around? Take the truck back after you've driven it for two weeks????

Shoulda called their bluff....

 

You should have definitely given them the keys back and walked away, like many people suggested. But hopefully it's lesson learned for next time that it's always in your best interest to have financing already lined up before setting foot in the dealership.

 

I don't understand how this can be legal. Obviously this is never done on a new truck? I mean, how can you even take delivery of a vehicle without having the loan in place and finalized? I've bought a half dozen cars from dealerships, some used and some new. Once you go in to pick up the vehicle it's a done deal... set in stone. Confused...

 

The STEALERSHIP wins again.

 

How do you think you buy a car on the weekend or after hours when the banks are closed? The dealership does it's due diligence to make sure you're qualified, but then they won't run the true financials through the financing bank until the next business day.

 

they either a. try to get you to fall in love with the car to do what OP did or b. pre approve you based on what they know and have confidence that you'll be approved

looks like it

 

But that still doesn't explain how the OP took delivery, then drove the truck for two weeks.

This should have been FINALIZED before he ever had the keys in his hand.

Somebody dropped the ball here.

 

Sorry but you just got took for 2 grand my friend. They let you have it on their research not yours. If it takes $2000 you should have told them its coming out of their profit not your pocket. If they don't like it then give you your trade back and see ya later. Tough tittty for them! They cant sell it to anybody as brand new with as many miles as you put on it in 2 weeks. I hope you learn a lesson about paying for other people mistakes due to being blinded by desire.

 

If you would like an answer, look at my earlier post that explains how the financing works, and has worked, for years and years. It is not unheard of for a bank or finance company to not get a full and finalized credit report and process it for a week or more. Yes, this is the information age and the internet works wonders, but still, you are talking about a finance company that may possibly process hundreds of applications a day. Each one at SOME point has to pass through a person's hands for final signature and approval, or in this case, a request for more substantial equity.

 

Dealerships will do a lot to close a deal. I went to a dealership on a Thursday. They had a 2013 Tacoma Doublecab TRD and the price was basically the same as a 2014. I told them to find me a 2014 then. They let me drive the 2013 at no cost other than gas until they located a 2014 for me. I put something like 300 miles on the 2013. Wednesday the next week, I returned the 2013 and picked up my 2014. Then, two days later, I finalized the loan papers with my bank for the truck loan. So, yes, I drove off the lot with my 2014 without the loan being funded yet.

 

dealing with the stealerships is more about psychology and less about finances. they are pro's at all the tricks, but you have to reign them in every step along the way or it will cost you. aside from that I cant add anything that the other guys haven't already warned you about im sure. =)

 

BamaToy1997,

I enjoy your insight and your internal working knowledge of dealerships...invaluable...

I do take offense for you stanch beliefs that Car dealerships are, for the most part, honest and forthright with all their sales....as I mentioned in my previous post, I knew many a car salesperson back in the days (this when I worked for a bank), not one dealership in all the transactions I witnessed was as honest and forthright as you profess with every deal...granted, you may have been lucky to work for several that may have been very honest with their dealings, generally though,

THEY ALL HAVE THEIR WAYS TO CLOSE A DEAL, and for the most part, it is a fine line between the wants of the buyer and the push to get inventory out the door, normally it falls just short of fraud in some cases...

This buyer was taken advantage of pure and simple, and they sunk the hook real bad, like I said, young buyers just don't think properly when getting a new toy...

And, in this day and age, credit reports and just about everything else that can be brought into the sale is available 24/7, this includes weekends and evenings, the whole situation stinks...

OK, I am done...

 

While it may seem that something aint quite right, the guy said the $2000 went towards his down payment. If that's the case, another contract would have been drawn up and his monthly payment should be less than the original payment. Now you can begin building solid credit, providing you always make your payments on time.

 

Harsh. I'm not blinded at all. I'd gladly give the truck back and get it somewhere else. The 2k extra did cut my monthly payments back by about 50/month. That's how it all made sense. I just hate how this entire system works

 

Yeah, I mean, OP had a signed contract. Hard ball could have been played, and the stealer would have paid (that rhymes...).

 

So you gave them $2k more as down payment and your monthly payment is $50 LESS. I'D CALL that good and move on.

The OP is college graduate so he absolutely knows what he's doubt.

 

Agreed but also in this day and age people sometimes don't help themselves by getting informed and being prepared. A good number of people don't know how to buy a car even though there are tons of resources that offer helpful info, hence why dealers can pull crap like this and fleece people out of their hard-earned money.

 

Same thing happened to me, I was ready with pre-approval from my credit union and prepared to hear them say 5.9% when the lady offered 1.9!