this is what I think as well. credit score is about 730 with pretty much no debt on it.

 

For 60 months 3% is the best I've heard of in this area. Local credit union will do 1.99% if you lower the length of the term. Didn't want ford financing because I took off 10k from sticker price, save way more money like that.

Back to this dealership. I really think they TOLD you or promised you a rate on paper which is binding, but now they are screwed and cannot fulfill the contract they gave you since the bank rate did not go through. I think you have the dealer by the *****. I would go to a lawyer and just ask. You may have the dealer backed into a corner, why not use that to right a wrong. I remember your accident. If you want out take back your trade, do so, but ask a lawyer first. but if you want to keep it, flex your muscles and make the dealer pay up. Sorry but they tried to screw you to sell a truck hoping you wouldn't find out. Paybacks a bitch.

 

Yea, I've had a lot of issues back and forth with this dealer since first looking at the truck. I'd rather just get back my trade and purchase elsewhere. I won't ever be purchasing another vehicle from this specific one. We have called probably 100 times over the last 3 weeks trying to get the payoff for the trade. Every time they transferred us to finance or a manager, they wouldn't pick up. Leave a message, never received any calls back. Had to just go up there to get any type of answers out of them.

 

Selling a vehicle before an interest rate is locked is not uncommon. Usually they will tell you take this vehicle we will work out the rate later, and you don't sign paperwork binding you to a false rate. This dealer however promised you a rate in a contract, and now can't fulfill their contract. Both situations are a dealers scam to sell a car. Read up on how dealers can scam you, just makes you an educated buyer. We are entering a period in the U.S. Where people don't care about you, nor how well they do their jobs. I always do research before trusting a "professional" to do their job correctly. You would be in aw if I told you how much money compass tried to steal from me if I just signed papers. That's why I don't take mistakes from ford lightly. Large companies and big banks have a responsibility, and when my money, or my families safety are of no concern vs. their profits, it angers me. This situation angers me. If I'm not mistaken you are younger, as am I, and I'm tired of people not taking younger adults seriously, assuming that's why they did this to you, hoping you wouldn't know what to do.

 

Yeah, I've been reading up on it. It looks like a yo-yo scam. I'm 28. I'm just ready to get this over with. They had taken the car to an auction but are transferring it back. Told me last night that it would be here today and they would call me when they have it on the lot so I could return the truck.

 

Update: the dealership just called and said our trade is there. Going after work to get this done.

 

I'd take it back, go buy another unwrecked truck, lol

 

This happens all the time. The dealer promises a rate, papers are signed and then the dealer can't get the buyer approved at that rate. It's common on end of the day or weekend sales. The crooked dealers bank on people not wanting to give the new car back.

In your case since it now has an accident on the carfax, get it in writing that you owe no money and the dealer accepts the truck back in as is condition. I wouldn't give them the keys or take your old car back without that in writing. Cover yourself so you aren't on the hook for diminished value. The dealer is losing a ton of money on this one, so watch yourself.

 

let them take it, it's a used truck now that it's been registered. they are going to eat a lot more cash than some money in a reduced interest rate. the dealer is full of it. dealers negotiate with a bank for a big chuck of money at a reduced rate. they may give someone a low rate or a high rate depending on their credit. i very much doubt that the interest rate would make or break the dealers profit line. proceed with caution. what interest rate did they give you? if it's 0.00% i could see them complaining other than that, hold off and drive your free truck. now that i think about it, was your trade worth what they gave you? maybe they feel they will take too big of a loss on your trade, so they are using the interest rate as an excuse. look at all the numbers and bottom line. consult with an outside finance person.

 

they definitely took a hit on the trade in. the interest rate is 3.9%. Will the truck show up as wrecked on the carfax since it was 3 weeks ago? Not sure how long it takes to show up on there.