Odd situation
Thread Starter
Senior Member
Joined: Aug 2015
Posts: 256
Likes: 27
From: south carolina
this is a good point. I will do that.
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.
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.
Senior
Joined: Jan 2012
Posts: 4,463
Likes: 119
From: Pearl, MS
Senior Member
Joined: Aug 2011
Posts: 270
Likes: 48
From: upstate ny
3.9% is an ok rate, so to me the dealer is full of it. you have 3 options
1. keep it and risk the accident showing up, which it will
2. dump it back to the dealer and hope to find a similar deal somewhere else, incentives my be better now
3. talk to a lawyer
in my opinion, the dealer screwed up on your trade value and over payed, so the only way is to convince you to bring it back, I would ask them "whats in it for me to bring it back"
1. keep it and risk the accident showing up, which it will
2. dump it back to the dealer and hope to find a similar deal somewhere else, incentives my be better now
3. talk to a lawyer
in my opinion, the dealer screwed up on your trade value and over payed, so the only way is to convince you to bring it back, I would ask them "whats in it for me to bring it back"
Senior Member
Joined: Jul 2007
Posts: 1,193
Likes: 241
From: Louisiana
Sometimes things work out for a reason, hopefully you get everything resolved this evening and can move forward.
Good luck to you!
Community Team
Joined: Jun 2015
Posts: 2,608
Likes: 556
From: Florida
the car was hit in the front passenger side. Just body damage. The truck has been fully repaired will all new OEM parts.
I have the original paperwork showing the interest rate that we signed for the truck for. The bank wants to go back and say that after they approved us previously for that rate, they want to change it and charge us a higher one. Told the dealership that, that is not what we agreed upon and they said that they will just return the truck and give my trade back.
When I go with the next truck, I will be going with a local credit union so we won't have to go through this again.
I have the original paperwork showing the interest rate that we signed for the truck for. The bank wants to go back and say that after they approved us previously for that rate, they want to change it and charge us a higher one. Told the dealership that, that is not what we agreed upon and they said that they will just return the truck and give my trade back.
When I go with the next truck, I will be going with a local credit union so we won't have to go through this again.
If you financed through the dealer there is nothing stopping you from doing a refi with a credit union now.
Senior Member
Joined: Aug 2015
Posts: 1,148
Likes: 157
From: Richmond, Tx
he has a wrecked truck, drop the wrecked truck back
goto another dealership w/ your paperwork, see if they'll do the same deal, GET APPROVAL before you sign and take a new unwrecked truck home.
that'll learn that dealership!
goto another dealership w/ your paperwork, see if they'll do the same deal, GET APPROVAL before you sign and take a new unwrecked truck home.
that'll learn that dealership!
Thread Starter
Senior Member
Joined: Aug 2015
Posts: 256
Likes: 27
From: south carolina
Alright, so took the truck back, got the title back for my trade as well as my trade and my down payment. Looking at another one this evening at another dealership. Similar specs except for it is white instead of silver and has the moonroof and locking rear axle.
Saved by Grace
Joined: Apr 2015
Posts: 528
Likes: 264
From: Salem, VA
So you got to drive a truck for free, wrecked it then got your trade back?
How in the world does the dealership allow that to happen?
Did you lose anything on the deal? Taxes, fees, anything?
How in the world does the dealership allow that to happen?
Did you lose anything on the deal? Taxes, fees, anything?
Thread Starter
Senior Member
Joined: Aug 2015
Posts: 256
Likes: 27
From: south carolina
No, didn't lose anything. We were going with their bank for financing and as it didn't go through, we never payed anything except for the down payment which I elected to put down to get my payments lowered(which I got refunded).