We're very close to buying a new Evo X from out of state, but the financing department we're working with at the dealership is telling us over the phone that they won't get an answer until as early as Monday? Why is it taking so long to get a response back? Is it because it's Saturday?

We've financed with BMW, Toyota, and couple used car dealerships in the past, and were always instantly approved. Why is this process taking so long? Is it normal?

Apparently they need to call different banks to find approval? That doesn't make sense, I thought this 0% APR is through Mitsubishi's own Credit Union.

Can anyone chime in on this? I wanted to get this done today!

 

Mitsubishi dealerships are shady. They could be trying to screw you over in some way, or they might be right about Monday.

 

I signed the paperwork at around 7pm on a Friday and got a call from Mitsu finance the next day around 9am telling me that my loan has been approved. I know some of the owners here took them 3 days.

 

I suppose it makes more sense in your case because 7pm is past the normal workday closing hours. But, 3 days? The wait is killer. Still have to find a shipping service, etc.. A friend who owns a shipping company quoted me $650 to ship open trailer from New York to Chicago (Chicago to New York and back to Chicago). What do you guys think?

 

took me about 30 minutes.

 

Gave them a call back. Apparently we were approved, but couldn't get any figures until Monday because they had to figure out the tax rate here (which I know is 8%). Also couldn't give us what rate we were approved at. ???

 

Sounds to me like you were not approved fot the 0% and they are shopping your credit around trying to get you bought somewhere else.

 

It took me like 30 minutes to get approved for the 0%.

 

Like 5 min

 

It can depend, but I have never took over a day to get approved with other cars, with the Evo i got approved within 30 minutes or less for the 0%. It was probably the fastest approval I had gotten.

 

Sounds like you weren't approved for the 0%

 

I got approved in 5mins...but I did find out later on that MMA was actually closed ...but since the actual dealer ship also saw my credit approved me to take the car cause they had faith I had meet the credit requirements....so they might be right ur dealership...they might be 50/50 on ur credit and they probally wanna be safe till MMA actually says YES

 

ask them why.
if you have an exelent credit. 800 and up. they should aprove you in five minutes. in my case, wasn't so... perfect so they ask for more details, like anual income, taxes, properties, bull**** like that, in one hour i was walking with my 0%.
computer sistem sometimes is down or slow and they can't comunicate with the headquarters, or maybe there is some incident in your credit even if is good that need doble check.
yes is kind of unusual but i wouln'd be surprised, more in this days. you can try tomorrow to push them a little and say that you have another deal....maybe they'll tell you what's goin on

 

Well, I guess I'll find out Monday what this is all about. :-/

GSR-less for at least one day more.

 

yeah it only took around 4 hours when my pops and i got approved... all of it was done over the phone cause south coast is 3.5 hours from my place. this was during a work week though.. its prolly cause MMA is closed?

good luck though!