Sorry to hear about this situation, but it isn't uncommon for any dealership to do this. Could be a Mercedes dealership and the same thing can happen.

At the dealership you "qualified" for 0% financing. You weren't "approved" for 0%. The approval happens afterwards once the financing company is able to review the paperwork. Two totally different things.

Sad, but true. Something for everyone to consider when buying a car.

Good luck getting another Evo.

Also, what rate would you qualify for since you can't get the 0%? It might be in your best interest to keep the car, get the $2000 cash back to lower your price. Will depend on your interest rate and the number of months.

By the way, if you had this problem at that dealership, you'll have the same issue at every Mitsubishi dealership. The 0% is through Mitsubishi Motor Finance. Every dealer submits the paperwork to the same place for approval.

So, unless you get a different co-signer, you won't qualify for Mitsu's 0% offer.

 

I'd be willing to do that, but all the numbers are down. I don't know if they'd switch.

I'm taking my attorney with me to return my car. I will check to see if I can get rebate instead.

And my sister should be approved. $65,000 a year? 750+ FICO score? My FICO score is even above 730.

 

You're definitely entitled to the $2000 cash back if you don't take the 0% financing. They have to give it to you. Just ask about it when you go in today.

Maybe you'll qualify for 2.9% for 60 months. If you can get that, along with the $2000 cash back, you'll only be paying a very small amount extra over the total life of the loan.

Good luck!

 

I've actually decided to just return it and deal with another dealership.

If they had the nerves to pull this then I don't want to be connected with them for the duration of my ownership.

But we'll see what happens. Thanks for your advice.

 

Not really the dealerships fault the banks were closed yesterday when you bought your car.

 

if all the papers are signed then a deal is a deal call his bluff and say thanks for the car

 

I agree, just tell them the deal is done. You already have the car you wanted, the great price, and the 0% APR. Let them worry about Mitsu Financing, im sure they can find a way to sort it out.

 

PAPERS ARE SIGNED ITS A DONE DEAL!!!

tell them to kindly GTFO!!!

 

Unfortunately, you're both wrong. You "qualify" for an interest rate at the dealership. You don't get "approved" for the interest by the dealership...you get "approved" at a later time by whomever is the financing institution (in this case, Mitsu Motor Credit). It's just the way it works at every single car dealership (unless the dealership has it's own in-house financing arm).

 

In that case, the dealership is at a loss then. What if the customer tells them "I'll just return the vehicle cuz I can't get my mom to cosign it... meanwhile I've clocked in a thousand miles on the odometer... no hard feelings"?

 

lmao!! ^^^^ that is the truth though. make the dealership work for you man.

 

LOL, I'm sure there is something in the paperwork that will put it in the dealer's favor just in case the initial loan app gets denied. I don't even read the darn things, I just sign em. Well then, the $2K rebate isn't such a bad alternative to the no interest option.

 

If you cant get it refinanced at 0%, beat the **** out of the car, and hand em back the keys.

 

In the end who will suffer? An innocent evo enthusiast I believe? Interesting....

 

well, its a car sales man...
What do you expect?