So mitsu said I could get fianced no problem....I took the car home and I ve put on 341 miles on it. They just called today and said that the only loan they could approve it on is $523 @16.75% a month instead of $413 a month @5.65%. Which means if I cant do it, I m back into my oz rally and I have to pay for the miles....!!!!!!!!!!!!!! I m going to talk with them and see what I can do. I d do it at 480 a month but that means they really need to work on the car price.

 

I added up the math and if they dont do this, they will lose $3,209.00 if they get a certified used title or $4,253.00 for just retail.

Heres what I m planning-
$22,035 for the car ($2,000 off)
$6,350 for my car ($1350 off)

So that will = $3,350 less ...should go through no problem with them plus they still make $3,000+ off my car

 

sucks!!!!! i hope it works out

 

Well not happy with the situation, I go in today to 98% chance taking home the oz rally.

 

Damn man 480 a month that was the price they quoted me for the evo 8 six years ago. It was to much then and to much now. I took the ralliart with 280 amonth instead.your not loosing out take home your oz an don't let them screw you over.

 

I would not deal with them:

http://www.carbuyingtips.com/scams.htm

Scam #1: The Financing Fell Through Scam (Spot Delivery Scam)
How the scam works: This is the oldest trick in the scam book. Lots of people complain about to us about this scam. You buy a new car, the "LieNance" manager says you got a low APR, hands you the keys, and you drive home. (Not all finance managers are LieNance managers, just the ones who lie, so salespeople stop whining to me about this name I made up for the few bad apples). Two weeks and 500 miles later, the dealer calls you saying "Sorry, you didn't qualify for that low interest". This is where "subject to financing" clauses on contracts bite you in the butt. Everyone thinks that you sign papers it's a done deal. The dealer knew exactly what you qualified for before you signed, unless you lied about your income.

They knew your credit score. If it's above 680, you'll get a low APR. If it's below 680, expect a higher APR. Your credit union will print your credit history and approve you in 10 minutes. I got approved instantly online. So why the problems with the dealer's Retail Installment Sales Contract? There usually is no problem, it's a scam. There is a phrase on most sales contracts stating "subject to loan approval". This Jedi mind trick means: "The deal is not final, even though you signed this contract." They'll tell you that you must produce an additional $1000 AND your payments would go up. They pull this scam on people with bad credit, because it's believable. They get the least resistance from this crowd, and figure you'll just pay up somehow.

How to avoid the scam: DON'T FINANCE AT THE DEALER if you have bad credit. Line up your own financing and compare to dealer's financing. Read our chapter on How to finance your car or use online car financing or your credit union instead. By using your own financing, you won't endure monthly payment scams, and the deal will be based on the selling price of the car, not monthly payments. If they start negotiating the car by monthly payment, it's time to leave. If they keep trying to shift your APR up or down depending on whether you buy a warranty or VIN etching, it's time to leave. But if you do finance through a car dealer, leave a deposit on your credit card, and do not take delivery of the car until the loan has been approved in writing a few days later. Then you know the lender has approved your loan. The dealer hands you the keys and say it's all right to drive off right now with the car, but don't do it. For buyers who lease, dealers sometimes call you a week later and claim they "made a mistake and you need to come back and sign a new contract." WRONG. Your lease is a contract, and the dealer cannot make you undo a contract. Just think, if you tried to get out of a lease, they would come after you in court right?

What to do if this scam happens to you: If you you got a good price on the car, your best solution is to preserve your deal so get your own instant financing online. If you have a credit score over 650, go online right now to Up2Drive and apply online, and get approved within the hour. They will FedEx you a check the next day, you'll take it to the dealer to pay for your car, now you have a car loan, no "financing fell through!" If your score is below 650, then apply through myAutoLoan.com instead. If the dealer refuses your online check, you should try to get out of that deal. File a complaint with the Better Business Bureau at BBB.com, and file a complaint through your state's Attorney General Web site. They are all aware of Spot Delivery Scams.

 

I agree way a scam, they know right away what you qualify for.

 

The site was very informative. I got hit with the co-signer one when I first got my job. I needed a car tho. Can't walk to work

 

keep your old car and look around!

 

holy crap and i was *****in about $271...480 would be a nightmare! good luck with getting the financing fixed with mitsu.

 

Great news! I m keeping the car and paid under invoice for the car! 4 free oil changes and 45 days from today is my first payment. I ll re-finance it after I m married in 6 months to bring down the apr from the 8% to probably a 5%

 

Good news to hear...glad something worked out!


-B

 

I had something like this happen, but they offered me a lower rate.

 

Yah it was pretty lame, I m happy everything worked out.

 

Are you happy that the dealership tried to hose you then make good? That's like giving you a tissue after they stick it to you.

Sales person says to you, "Oh sorry, I just tried to rake you over the coals but if you forgive me I might give you a discount on your next visit." Bonk!

You should still report the abuse regardless.