Dealership finance pulled a bait and switch - Page 3 - Ford F150 Forum - Community of Ford Truck Fans



Off-Topic Want to discuss something not related to a Ford F150? Here's the place.

Dealership finance pulled a bait and switch

Reply
 
 
 
Thread Tools Search this Thread
Old 11-15-2017, 01:43 PM   #21
Senior Member
 
Ricktwuhk's Avatar
 
Join Date: Dec 2013
Location: SE Michigan
Posts: 7,977
Thanked 2,260 Times in 1,480 Posts
Default

Quote:
Originally Posted by bassJAM View Post
If you want to take some sort of legal action, talk to a lawyer. You may be able to do something since your paperwork has your lender's name on it. But you may want to read the fine print too, it's possible there's language there that allows them to switch financing.

This isn't uncommon in the mortgage world, you finance with one bank and then 3-4 months later they sold your loan to another bank. That's happened to me twice.
Totally different. You financed with your bank. Signed the papers, got the rate, got any perks of having a mortgage with them. They then sell the mortgage, or the servicing, to someone else. In many cases you still get the benefits, just send the payment elsewhere.

This dealer didn't do the financing as the OP expected and thought the paperwork determined.
Ricktwuhk is online now   Reply With Quote
Old 11-15-2017, 05:20 PM   #22
Fleet Technician
 
Rnlcomp's Avatar
 
Join Date: Feb 2013
Location: Big Easy
Posts: 18,200
Thanked 3,416 Times in 2,697 Posts
Default

Quote:
Originally Posted by bassJAM View Post
If you want to take some sort of legal action, talk to a lawyer. You may be able to do something since your paperwork has your lender's name on it. But you may want to read the fine print too, it's possible there's language there that allows them to switch financing.

This isn't uncommon in the mortgage world, you finance with one bank and then 3-4 months later they sold your loan to another bank. That's happened to me twice.


My original mortgager told me up front they only under write the mortgage and even told me who would be taking it over immediately after closing. Didn't make 1 single payment to them.


The op's situation is quite different and I'm no lawyer but to me it seems like outright fraud what they did.
.
Rnlcomp is offline   Reply With Quote
Old 11-16-2017, 12:11 PM   #23
Senior Member
 
bassJAM's Avatar
 
Join Date: Jul 2015
Posts: 872
Thanked 97 Times in 85 Posts
Default

Quote:
Originally Posted by Rnlcomp View Post
My original mortgager told me up front they only under write the mortgage and even told me who would be taking it over immediately after closing. Didn't make 1 single payment to them.


The op's situation is quite different and I'm no lawyer but to me it seems like outright fraud what they did.
.
Possibly, but like I said I wouldn't be surprised if there was something in the papers he signed that gave them permission to do this.
bassJAM is offline   Reply With Quote
Old 11-16-2017, 04:38 PM   #24
Fleet Technician
 
Rnlcomp's Avatar
 
Join Date: Feb 2013
Location: Big Easy
Posts: 18,200
Thanked 3,416 Times in 2,697 Posts
Default

Quote:
Originally Posted by bassJAM View Post
Possibly, but like I said I wouldn't be surprised if there was something in the papers he signed that gave them permission to do this.


It's on him to read the fine print.
.
Rnlcomp is offline   Reply With Quote
Old 11-16-2017, 08:17 PM   #25
Senior Member
 
Join Date: Jul 2011
Location: Tonopah. AZ.
Posts: 3,383
Thanked 469 Times in 309 Posts
Default

There is no fraud as long as the terms and money are the same as quoted in the contract signed by the buyer. It is a common practice by many if not most dealers, as for a lawyer if think trucks are expensive try lawyers and if you think you have a case open your wallet because there is no way a lawyer will touch this on a contingency basis.
bubbabud is offline   Reply With Quote
Old 11-16-2017, 08:20 PM   #26
Senior Member
 
Ricktwuhk's Avatar
 
Join Date: Dec 2013
Location: SE Michigan
Posts: 7,977
Thanked 2,260 Times in 1,480 Posts
Default

OP hasn't been back in 2 days...
Ricktwuhk is online now   Reply With Quote
Old 11-16-2017, 08:25 PM   #27
Senior Member
 
Join Date: Sep 2017
Location: Portland, OR
Posts: 317
Thanked 35 Times in 30 Posts
Default

Quote:
Originally Posted by Rnlcomp View Post
This makes no sense, I financed thru my CU, the dealer and I worked out an out the door price, I came back the next day with check in hand and drove her home.

Why on earth would you let the dealer do the paper work you should have done in advanced?
.
What paperwork would have to be done in advance?

Poor foolish choice to just pick a single bank to do business with. Always let a dealer do a credit check and try to find a lower rate.

Regarding the OP dilemma - I'd have them correct the issue ASAP because right now there is a void and the contract is not valid as it sits.
adammjarvis is offline   Reply With Quote
Old 11-16-2017, 09:26 PM   #28
Fleet Technician
 
Rnlcomp's Avatar
 
Join Date: Feb 2013
Location: Big Easy
Posts: 18,200
Thanked 3,416 Times in 2,697 Posts
Default

Quote:
Originally Posted by adammjarvis View Post
What paperwork would have to be done in advance?

Poor foolish choice to just pick a single bank to do business with. Always let a dealer do a credit check and try to find a lower rate.

Regarding the OP dilemma - I'd have them correct the issue ASAP because right now there is a void and the contract is not valid as it sits.
Since you picked my post to question, I'll share my experience with you. When you make a major purchase, beit a house or vehicle, there are certain procedures to go thru.

Financing being # 1, with that in mind the purchaser MUST be CERTAIN of all aspects of that.

I'll stop there because I do not wish to start a pissing contest with someone that does not know how the process works.

If you need further clarification, consult www.google.com for more information on financing strategies.
.
Rnlcomp is offline   Reply With Quote
Old 11-16-2017, 09:39 PM   #29
Senior Member
 
Join Date: Sep 2017
Location: Portland, OR
Posts: 317
Thanked 35 Times in 30 Posts
Default

Quote:
Originally Posted by Rnlcomp View Post
Since you picked my post to question, I'll share my experience with you. When you make a major purchase, beit a house or vehicle, there are certain procedures to go thru.

Financing being # 1, with that in mind the purchaser MUST be CERTAIN of all aspects of that.

I'll stop there because I do not wish to start a pissing contest with someone that does not know how the process works.

If you need further clarification, consult www.google.com for more information on financing strategies.
.
I'm very well aware of the process. I'm just replying to what YOU posted, which seems foolish and a poor decision. Unless you weren't as detailed as you should have been.

Or maybe you didn't understand my post. Either way you lack the competence to even hold a debate so we're really left with not much else to say or mention. Best of luck to you.
adammjarvis is offline   Reply With Quote
Old 11-17-2017, 06:48 AM   #30
Fleet Technician
 
Rnlcomp's Avatar
 
Join Date: Feb 2013
Location: Big Easy
Posts: 18,200
Thanked 3,416 Times in 2,697 Posts
Default

Quote:
Originally Posted by adammjarvis View Post
I'm very well aware of the process. I'm just replying to what YOU posted, which seems foolish and a poor decision. Unless you weren't as detailed as you should have been.

Or maybe you didn't understand my post. Either way you lack the competence to even hold a debate so we're really left with not much else to say or mention. Best of luck to you.
LMAO. This was never open for debate to begin with. Perhaps you lack the common sense to realize I was stating an opinion, not a fact.
.

Last edited by Rnlcomp; 11-18-2017 at 07:52 PM.
Rnlcomp is offline   Reply With Quote
 
 
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT -4. The time now is 10:16 AM.


Copyright 2006 - 2017 F150Forum.com We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.
 
  • Ask a Question
    Get answers from community experts
Question Title:
Description:
Your question will be posted in: