Lol at dealership

[HDgamer]

I HATE DEALERSHIPS!!! If any of you guys are wondering this happened at Capitol Mitsubishi in san jose, CA


So basically I just purchased a Brand new 2011 WW GSR 3 days ago. We agreed to do 37k OTD at 0% for 36 months and I signed my name on the dotted paper. I had to get my Dad to come in and help me cosign, because I had never purchased a car before, despite having sufficient income and credit to pay for the car. Whatever I thought.




Well just yesterday, the stealership decides to call and inform me that their bank did not approve the loan for 37k 0%, because apparently my dad has not financed a car recently. They said that even though he is a homeowner and has good credit, the bank will only approve 17k at 0% and they want me to front the REST. So they told me to come in and drop 20k on the table, get another cosigner, or return the car.

I told them why didn't they tell me the loan would not be approved BEFORE i signed my name on the contract. I told them that it is THEIR fault for not making sure that my loan was approved, and that I would NEVER have purchased the car for 20k down. If i had KNOWN that was the bank's offer, I would have just walked out.

Needless to say, I am extremely pissed about this situation. How can the dealership just "allow" you to sign paperwork without properly checking if you will be approved. Anyways, in the wording of the contract, the dealership is entitled to canceling the sale of the car within 10 days of purchase. However, they want me to take a day off work to come in to the dealership, with NO compensation whatsoever.

Obviously I cannot bring the car to them until the weekend, but I've already put on a few hundred miles just having fun with the car. What are my options here? I can get my mother to help co-sign (Which will be a huge ***** to do, as she does not approve of the purchase), or I can just return the car. Putting 20k down is not an option.



I'm honestly just thinking about returning it with 500miles, walking out the door, turning around, and telling them I want to purchased a USED Evo. Then just drop it all in cash. (I know they can't sell it for new anymore if there's enough miles on it) Would this even work?

[Moppie]

That is some very, very dodgy tactics.

They have left themselves open for all sorts of abuse by letting you take the car before the finance was approved.


I would tell them that if they want it, they can come and get it, or they can wait until the weekend.

Then, if you have a pile savings, take it and put it on a used car.
Always better value, and always more fun, there are things you can do with a used car you can't with anew one

But, get it from a different dealership.