bought evo, lost evo, f mitsu
yaah just go to another dealership in the meantime and see what they will give you for a deal and compare the two, yaah mitsu has terrible sales routines but now that they made a mistake the ***** in your court, and calling them and arguing and swearing at them proves nothing, beating on a car that you might end up keeping proves nothing good, now that you have them by the ***** go work out a deal and if they wont throw u more money off have them throw in incentives (free clear bra, free maitenance), being on a good side of a dealership can be a very good thing (keeping your warranty with mods), trust me they dont want to take back a used car just as much as u dont want to give it back, they are just content on showing the owner of the dealership through the books that they didnt LOSE money on a car they sold, but thats all on paper- get things out of them- off the books so you make off consideratly well (incentives as mentioned above)
[QUOTE=gsujeff55]Either way, yout must have some F*CKED up credit not to be able to get 0% with 8 freakin thousand dollars down.
I heard that Mitsubishi requires a minimum 700 credit score to qualify for the special financing rates. They're gonna look for anything wrong. You should also keep a close eye on you credit because the credit reproting agencies are not always very accurate and their mistakes can be very costly to you the consumer. The average score is like 644 or close.
Dave
I heard that Mitsubishi requires a minimum 700 credit score to qualify for the special financing rates. They're gonna look for anything wrong. You should also keep a close eye on you credit because the credit reproting agencies are not always very accurate and their mistakes can be very costly to you the consumer. The average score is like 644 or close.
Dave
5% from 0% is not 1k more over 5 years and if you work at a bank and you believe this, thats sad. I pay 5.9% on my 2005 evo through citizens and I bought it last year oct 28th. I had one of the first 2005's in NY and at that time the best rate with Tier 1 credit was 5.9%. my score as well as my girlfriends (who co signed) was over 700. every month i get a statement and I see how much goes to interest and how much goes to principal. I've made about 8 payments so far and I've payed about 1000$ so far. yes the interest goes down as you go but if I had 0% I wouldnt have already paid 1k in interest.
and how are they asking for less money??? They're telling him they need to raise his rate. What they should do is sell the car close to their cost (around 27-28k with SSL package) for the mistake they made. They look like a bunch of monkeys now. They shouldnt have let the car go if they couldnt verify his credit, who the hell does that??? This is the most immature and unprofessional thing I've ever seen. You dont sell a car and call the guy 2 days later and complain you sold it to cheap. he should eat the problem and learn from it.
when i bought my car, my credit app was submittied and then approved and then we signed contracts. Its not supposed to be done vice versa
and how are they asking for less money??? They're telling him they need to raise his rate. What they should do is sell the car close to their cost (around 27-28k with SSL package) for the mistake they made. They look like a bunch of monkeys now. They shouldnt have let the car go if they couldnt verify his credit, who the hell does that??? This is the most immature and unprofessional thing I've ever seen. You dont sell a car and call the guy 2 days later and complain you sold it to cheap. he should eat the problem and learn from it.
when i bought my car, my credit app was submittied and then approved and then we signed contracts. Its not supposed to be done vice versa
Same thing happened to me. My first evo was taken back on similar terms, because I didnt have the financial history to finance such an expensive car. It worked out for me because I ended up getting a better deal one month later, and it was through Mitsubishi financing none-the-less.
What they did is totally within their power. Take out the big three-foot contract that you signed. In small print on mine I noticed a clause that said the dealership has 8 days to finalize a deal and create a contract. If they cant then they have the right to take it back. Thats in Cali though good luck........
What they did is totally within their power. Take out the big three-foot contract that you signed. In small print on mine I noticed a clause that said the dealership has 8 days to finalize a deal and create a contract. If they cant then they have the right to take it back. Thats in Cali though good luck........
After reading all the posts about beating the $hit outta the car really makes me wonder if I'm on evom or the srt forums? You guys don't deserve to drive evos and I hope all your evos were beaten to $hit from the prior test drivers or owners if they are used.
yea definitely dont beat the car because like someone said, the car will end up in some innocent guys hands and he'll be on here complaining about it. thats not fair, your not gonna hurt the dealer cuz they're just gonna unload the car on someone else. Plus you might end of keeping it so if you do then dont beat on it. Good luck
Originally Posted by NOLIMITMOTORS
yea definitely dont beat the car because like someone said, the car will end up in some innocent guys hands and he'll be on here complaining about it. thats not fair, your not gonna hurt the dealer cuz they're just gonna unload the car on someone else. Plus you might end of keeping it so if you do then dont beat on it. Good luck
I cannot believe that there are so many people quick to tell him to go do clutch dumps/rack up the miles/rev limiter gymnastics. I bet some of you bought new evo's with more than 3 or 4 miles on them. how would you like it if some d*ckwad did this to your new car, or you got a good deal on a 300 mile demo and this is the sh*t it had been through...juvenile.....
as for the interest rate, one of the posts earlier is correct. if the financing is down or late on a weekend, there is a statement in the contract that if they cannot get you financed at the rate they quote, that you will agree to come back in and sign for the new rate or back out of the deal. we just purchased a murano and the deal closed at 10pm on saturday night. all the banks were closed. the finance dude (a good close friend) had to quote us some "book" rate at 7.75%. there is a provision that once the financing goes through, if it is for a lower rate/higher rate we have to come back in and re-sign the credit app. on monday, the financing came in 2pts. lower due to our credit, but it could have gone the other way. the finance company has ya..
as for the 5%, on a 20,000 note, that adds up to 2600 in interest. if the dealership is willing to eat 2k and you didn't qualify for the 0%, then there is something in your credit and paying 600 in finance charges is a great deal in my opinion.
if you like the car(obviously you did as you bought it), suck up the $600 in finance charges($10/month) and go enjoy the car.....
just find a diff. dealer to service
just my .02
as for the interest rate, one of the posts earlier is correct. if the financing is down or late on a weekend, there is a statement in the contract that if they cannot get you financed at the rate they quote, that you will agree to come back in and sign for the new rate or back out of the deal. we just purchased a murano and the deal closed at 10pm on saturday night. all the banks were closed. the finance dude (a good close friend) had to quote us some "book" rate at 7.75%. there is a provision that once the financing goes through, if it is for a lower rate/higher rate we have to come back in and re-sign the credit app. on monday, the financing came in 2pts. lower due to our credit, but it could have gone the other way. the finance company has ya..
as for the 5%, on a 20,000 note, that adds up to 2600 in interest. if the dealership is willing to eat 2k and you didn't qualify for the 0%, then there is something in your credit and paying 600 in finance charges is a great deal in my opinion.
if you like the car(obviously you did as you bought it), suck up the $600 in finance charges($10/month) and go enjoy the car.....
just find a diff. dealer to service
just my .02
Originally Posted by NOLIMITMOTORS
5% from 0% is not 1k more over 5 years and if you work at a bank and you believe this, thats sad. I pay 5.9% on my 2005 evo through citizens and I bought it last year oct 28th. I had one of the first 2005's in NY and at that time the best rate with Tier 1 credit was 5.9%. my score as well as my girlfriends (who co signed) was over 700. every month i get a statement and I see how much goes to interest and how much goes to principal. I've made about 8 payments so far and I've payed about 1000$ so far. yes the interest goes down as you go but if I had 0% I wouldnt have already paid 1k in interest.
and how are they asking for less money??? They're telling him they need to raise his rate. What they should do is sell the car close to their cost (around 27-28k with SSL package) for the mistake they made. They look like a bunch of monkeys now. They shouldnt have let the car go if they couldnt verify his credit, who the hell does that??? This is the most immature and unprofessional thing I've ever seen. You dont sell a car and call the guy 2 days later and complain you sold it to cheap. he should eat the problem and learn from it.
when i bought my car, my credit app was submittied and then approved and then we signed contracts. Its not supposed to be done vice versa
and how are they asking for less money??? They're telling him they need to raise his rate. What they should do is sell the car close to their cost (around 27-28k with SSL package) for the mistake they made. They look like a bunch of monkeys now. They shouldnt have let the car go if they couldnt verify his credit, who the hell does that??? This is the most immature and unprofessional thing I've ever seen. You dont sell a car and call the guy 2 days later and complain you sold it to cheap. he should eat the problem and learn from it.
when i bought my car, my credit app was submittied and then approved and then we signed contracts. Its not supposed to be done vice versa
This is basically what I stated in my post 2 pages ago. In CA it is called "Rights to Rescind." That is why it is so important to read your contract thouroughly before signing...even if it takes you two hours to do it. And ask questions if you don't understand the jargon! Like I said before, this is a very common practice among dealerships. I know it sucks that you may lose your Evo, but i feel you are partly at fault if you didn't read all the terms before signing.
Originally Posted by Sayajin
Sorry guys.... but I am going to have to burst everyone’s bubble here.... I sell cars for a living.
Technically, and LEGALLY the dealer CAN come back and get the car, because you signed something allowing them to. It is called a bail agreement. It says exactly what happened in this scenario. That if the finance company decides to not accept the deal, or something changes on the finance end and the deal cannot go through as it is currently set up, the car is not yours. Technically it also says, the car is not legally yours until the finance is fully accepted. Sorry.
I suggest working out a deal on the price and keeping the car at 5%. Your going to fight a losing battle if you try to keep it.
Also DO NOT be an *** to the dealer! It is for your own good. Let me explain why, also in that bail agreement is a document that says you are allowed to drive the vehicle 20mi per day that you own it. Any mileage over that and you are charged 25 cents a mile.... most of the time we dealerships just ignore that part.... UNLESS the customer is an ***...
So you say yea! Well I aint paying it? Too bad.... it also says that you give the dealer the right to take it directly out of your down payment.
Bottom line, let the dealer know how pissed off you are, let him know how unhappy you are about the whole thing, but dont be an ***... you will regret it in the long run. Even though your only talking about a $65-$100 regret.
Also, guys dont necessarily put all the fault on the dealer. Unfortunately this happens all the time. What this is called is "spotting" a deal. It is when we think we can get the deal bought at those terms. Unfortunately only the best of Finance Managers seem to be able to make most spotted deals stick since often times finance companies dont like our structure. Even tho it sucks, thats the way it is.
Sorry.
As for running from the dealer... LOL, the repo man gets sent out to you, not any dealership rep. Umm... how long do you think you can get away from the Repo man w/ him having all of your addresses and closest family and friends addresses? (remember those references they had you write down?) Feel free to try and do so, but its a waste... and its just more money that is going to come out of your down payment for mileage.
Sorry, I dont mean to sound unsympathetic, its just I am letting you know you are fighting a battle YOU WILL lose. Also you may not have a copy of the bail agreement, but believe me it IS THERE. Legally ALL dealers have to have one, even by here pay here lots. Court is a waste of time and money. You signed a contract saying you would BRING it back. You WILL LOSE.
Any more questions feel free to ask.
Also, legally it is still a BRAND NEW car. Reaon being, it has never been titled. Even tho they sold it to you. This is becuase the title is titled to the finanace compnay upon a car being sold, in this case there is no finanace company so no titile. No DMV record, and a BRAND NEW car.
-Sayajin
Technically, and LEGALLY the dealer CAN come back and get the car, because you signed something allowing them to. It is called a bail agreement. It says exactly what happened in this scenario. That if the finance company decides to not accept the deal, or something changes on the finance end and the deal cannot go through as it is currently set up, the car is not yours. Technically it also says, the car is not legally yours until the finance is fully accepted. Sorry.
I suggest working out a deal on the price and keeping the car at 5%. Your going to fight a losing battle if you try to keep it.
Also DO NOT be an *** to the dealer! It is for your own good. Let me explain why, also in that bail agreement is a document that says you are allowed to drive the vehicle 20mi per day that you own it. Any mileage over that and you are charged 25 cents a mile.... most of the time we dealerships just ignore that part.... UNLESS the customer is an ***...
So you say yea! Well I aint paying it? Too bad.... it also says that you give the dealer the right to take it directly out of your down payment.
Bottom line, let the dealer know how pissed off you are, let him know how unhappy you are about the whole thing, but dont be an ***... you will regret it in the long run. Even though your only talking about a $65-$100 regret.
Also, guys dont necessarily put all the fault on the dealer. Unfortunately this happens all the time. What this is called is "spotting" a deal. It is when we think we can get the deal bought at those terms. Unfortunately only the best of Finance Managers seem to be able to make most spotted deals stick since often times finance companies dont like our structure. Even tho it sucks, thats the way it is.
Sorry.
As for running from the dealer... LOL, the repo man gets sent out to you, not any dealership rep. Umm... how long do you think you can get away from the Repo man w/ him having all of your addresses and closest family and friends addresses? (remember those references they had you write down?) Feel free to try and do so, but its a waste... and its just more money that is going to come out of your down payment for mileage.
Sorry, I dont mean to sound unsympathetic, its just I am letting you know you are fighting a battle YOU WILL lose. Also you may not have a copy of the bail agreement, but believe me it IS THERE. Legally ALL dealers have to have one, even by here pay here lots. Court is a waste of time and money. You signed a contract saying you would BRING it back. You WILL LOSE.
Any more questions feel free to ask.
Also, legally it is still a BRAND NEW car. Reaon being, it has never been titled. Even tho they sold it to you. This is becuase the title is titled to the finanace compnay upon a car being sold, in this case there is no finanace company so no titile. No DMV record, and a BRAND NEW car.
-Sayajin
Originally Posted by gsujeff55
NOLIMIT
let me re-phrase. you are an idiot. after reading your entire post, thats all i can infer.
let me re-phrase. you are an idiot. after reading your entire post, thats all i can infer.
No use talking to this fool, his head is to big from running a shop at his young age.