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Financing problem

Discussion in '2nd Gen. Tacomas (2005-2015)' started by mbush, Mar 10, 2010.

  1. Mar 10, 2010 at 7:57 PM
    #1
    mbush

    mbush [OP] Well-Known Member

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    I was wondering if anyone might have some insight to my situation. I bought my truck about a month ago, and recieved the $1000 college grad incentive. The finance manager approved it on the condition that I foward them a letter verifying I'll graduate within the next six months, and I did. Yesterday, I recieved a call from the finance guy saying that toyota finacial office would not give me the rebate because my degree will be an associates and not a bachelors. During the purchase, I specifically told the finance manager that my degree would be an associates and yet he approved it. Anyway, he says he needs me to come down to the office to sign some paperwork to re-organize the loan agreement and ensured me that I'll still be paying the same amount total. He said that he just needs to take the money out from somewhere else. I'm having a hard believing any of this and was wondering what to expect when I drive down there tomorrow. Anything to watch out for?

    Sorry if this is in the wrong thread and for the block of text.
     
  2. Mar 10, 2010 at 7:59 PM
    #2
    Brunes

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    Just pay attention to the APR and the payments...
     
  3. Mar 10, 2010 at 8:02 PM
    #3
    WilsonTheDog

    WilsonTheDog Kylie's dad

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    Oh he'll rearrange and keep the payments the same, all right. You'll just be paying 3 months or so longer.

    But yeah, make sure that APR stays the same, no question.

    FWIW, next time, use a credit union.
     
  4. Mar 10, 2010 at 8:03 PM
    #4
    NWtacoma

    NWtacoma Well-Known Member

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    if you've already signed everything tell them to fuck off.
     
  5. Mar 10, 2010 at 8:04 PM
    #5
    ilovetacos

    ilovetacos Well-Known Member

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    Sold!
    Also pay attention to the term of the loan...I wouldn't sign anything until everything matches your original contract. I would say the dealership needs to lower their price $1k for their F-up.
     
  6. Mar 10, 2010 at 8:05 PM
    #6
    blackwatertaco

    blackwatertaco If you ain't stuck, You ain't tryin hard enough.

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    ^^^ what he said. Good luck man.
     
  7. Mar 10, 2010 at 8:16 PM
    #7
    DIVERMAN

    DIVERMAN Well-Known Member

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    ^^^^ x3 good luck!
     
  8. Mar 10, 2010 at 8:16 PM
    #8
    mbush

    mbush [OP] Well-Known Member

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    Thats exactly what I'm going to do. In fact, I'm going to ask him what the terms are before I even drive down there, then when I show up I'm gonna bust out my TI-83.

    I was gonna do that originally, but the to get the rebate, which I'm apparently no longer gonna get, I had to use their financing.

    If they try to pull a quick on me, this what I'll tell them. But, legally, do the have any leverage on me?

    This was only place I could think of where that they could take the money out of, but do they really need me sign more paperwork for that?
     
  9. Mar 10, 2010 at 8:22 PM
    #9
    nighthawk87

    nighthawk87 Well-Known Member

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    Worse they can do is take you truck back...but they won't over a 1000, it'll cost them more for the turn over.

    1. Make sure your LOAN AMOUNT, LOAN TERM, APR are the same

    2. Bring the old contract and have them indentify where the change is so you know.

    3. If they charge you more in either a longer term, apr, or loan amount then tell them NO they can have the truck back...trust me even if they start, they won't actually take it back.

    or,

    you can talk to a lawyer but I don't think there is a need.
     
  10. Mar 10, 2010 at 8:22 PM
    #10
    ForeRunner

    ForeRunner Scotch before noon. Moderator

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    Apparently in WA a verbal agreement can hold up in the court of law... This from someone who recently passed the WA BAR.

    Also until financing is secure the vehicle still belongs to the dealership regardless of what was said or agreed upon by the "seller". Check your local laws regarding verbal agreements and go from there.
     
  11. Mar 10, 2010 at 8:26 PM
    #11
    bp red

    bp red Well-Known Member

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    This is what i say to. You have a contract if you do not go and resign they will have to eat the 1000.00. You could also tell them to lower the apr to make up for the 1000.00. Or say i will just bring your truck back i am sure that will change there mind.
     
  12. Mar 10, 2010 at 8:31 PM
    #12
    81shark

    81shark Well-Known Member

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    tell em to fuck off.
     
  13. Mar 11, 2010 at 6:46 AM
    #13
    wlmuncy

    wlmuncy Well-Known Member

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    Tell us how it goes.
     
  14. Mar 11, 2010 at 6:49 AM
    #14
    Brunes

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    Yeah- Because this is the way that grown ups work things out. You guys are MORONS.

    Talking about the guys credit/money- and your answer is profanity and acting like a little prick kid. :smack:
     
  15. Mar 11, 2010 at 6:54 AM
    #15
    81shark

    81shark Well-Known Member

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    the dealership and buyer both agreed to a deal and both signed off on that deal. i wouldn't give them a dime more..

    so if you don't like fuck off

    how about telling them to go pound sand
     
  16. Mar 11, 2010 at 6:58 AM
    #16
    Brunes

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    Telling them anything to that effect is probably a bad idea- That ends up with trucks getting repo'd and courts being inovlved- which doesn't really do ANYONE any favors.

    It doesn't sound like they are looking for a dime more- Sounds like they are going to adjust the deal to make the 1000 dollars come outta somewhere else.
    By watching the APR and the monthly payments/term- He might make out better. Plus he also has the option to go shop other leaders.
     
  17. Mar 11, 2010 at 7:03 AM
    #17
    Simon's Mom

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  18. Mar 11, 2010 at 7:05 AM
    #18
    hookedontronics

    hookedontronics Well-Known Member

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    How do you qualify for the college grad incentive? I graduated in May of 09, am i too late?
     
  19. Mar 11, 2010 at 7:07 AM
    #19
    Brunes

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  20. Mar 11, 2010 at 7:09 AM
    #20
    tegdog

    tegdog Taco Lover

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    I bet if you tell them you will find other financing they will work with you, its their mistake but talk to them like you would want to be talked to, it only makes sense. I will bend over backwords for someone who shows me a little kindness and respect. I will be first one to tell someone to fuck off if they are rude or disrespectful to me w/o cause.
     
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