A quick call to the financing manager and threaten to walk will solve this. Good luck!

Thank you all for the great feedback. I called the dealer last night and pretty much told him how it is. I told him that if the deal is not approved today, I am walking away. I don't care if he needs to get the GM involved to push it through.

Sadly, he kept the same tone throughout our conversation. He just keeps saying it is out of his hands, and he has called Mitsubishi fincancing twice a day to see where it is in the approval process. I told him that no other players in the industry have a 5 day approval period for someone with my credentials. He dodged the issue stating that it has to do with the fact that I am out of state and he has never met me before, or shaked my hand blah blah blah.

The reason this particular car was hard to find is that I want a WW with SSS and leather/sunroof. I tried to get one at a local dealer in Atlanta and the only one he could find that was somewhat close was the one i'm attempting to buy from Chicago. Initially, the dealer here tried to make a trade for the car, but the dealer in Chicago didnt want to reciprocate since it is the last 2011 WW in the midwest / east coast that has leather on it.

I am going to stick to my guns, however. If he can't meet my request to have the deal done today, I will get my money back and order a 2012 to my exact specifications.

Again, thanks for all of the great feedback. I really appreciate it.

20k downpayment sounds excessive...

at 0%, i'd much rather take that money and invest in anything secure lol even Gov bonds @ 2% is a better deal for you in the long run

It is a wise move to stick to your guns. As you said, if you can't get this car, then get a 2012. I was kind of in the same predicament. The dealer whom I bought my first Evo from, simply could not find any Evos in the 5 state area other than a couple of MR's and a crappy Apex Silver GSR. I asked my salesman to find a car for me farther out, but he said he wasn't able to do that.

I do know that Evos are very hard to come by in the upper Midwest. Seems like you have to go to California, Texas or Florida to find what you want. This is what I did. Let us know how things turn out.

there are a lot of oblivious and ignorant posts here with the typical "dealerships are eviil" attitude

the dealership is probably waiting to get the deal FUNDED, not approved, since the car will be going out of state

you see. Approving a loan takes a matter of minutes (or even seconds) with good credit like yours. Getting the loan processed and completely FUNDING the dealership takes A LOT of paperwork with a lot of different people (bank, legal, inhouse, etc)

with a "normal" car purchase, dealerships will usually just let you take the car home and handle the rest to get funded. if something does go wrong (usually rare), they have to call you back in - this is where some of those completely bias and ignorant "dealership scammed me" stories come from.

But since you're out of state and they would be shipping the car away, chasing you and the car down if the deal doesn't get funded would be 10 times harder. So they're waiting for the deal to be 100% funded and done before letting it go

I bet you $100 this is the real situation, and that it's completely reasonable.

<--- this is coming from a Mitsu salesman, so I know how the car business works. most car deals aren't actually "finalized" and funded until weeks after you already took the car from them