Screwed over by TWO Chevy dealers now

[Black1le]

So back in October I came close to buying a special Dusk edition SS manual, but it didn't happen because of the dealer's shady business practices. Now, I just bought a ZL1, but might end up giving it back for similar reasons. What's with Chevy dealers???

First, what happened with the Dusk: After signing all the paperwork, securing financing, and putting down $3k, the dealer told me my car was on the way from a nearby dealership, and would be ready for pick up by the end of the week (like in 2 or 3 days). TWO AND A HALF WEEKS later, I told the dealer to go you-know-what himself, got my money back and all the paperwork voided out. While doing so, the finance guy said "Yeah, I don't think they were going to be able to get that car anyway." So basically, they never had the car but just didn't want to lose the sale, so they planned on stringing me along until they could actually get it, to keep me from going anywhere else. Who knows how much longer it could've taken. Shady.

Life intervened and I ended up waiting a few months before pulling the trigger again, something I'm glad I did because in the meantime I decided to go for performance rather than appearance upgrades. As my username makes obvious, I was planning on getting a 1LE, but the first time I test drove a ZL1 I was hooked. I found the perfect one: 2013, black, manual, sunroof, nav, carbon fiber hood insert, and black wheels (I hate the polished bright wheels). I pulled the trigger and took her home New Year's Eve and have had the permagrin I've heard so much about plastered on my face ever since.

That is, until the finance guy at the dealership (a different dealership from the one where I almost bought the Dusk) started calling and telling me that the bank was "requiring" an additional $3k down in order to provide the financing we'd already signed off on a week earlier. This is in addition to the $1500 trade-in and $3k that I'd already put down. I have excellent credit, and was happy with the rate they'd offered me but not ecstatic, and I'm completely unwilling to double my downpayment at this point, especially after signing everything up. The rate we agreed to was just good enough for me to say yes, and I'm not willing to put more money down. In my mind, the dealership made a deal and should have to honor it. It's not like a could have walked in a week later and said I'd like another $3k knocked off the purchase price.

I go in tomorrow to either get the financing we agreed to, or get my trade in and downpayment back and give up the ZL1. I really want to keep this beauty, but there's no way I'm going to let them hold me up for more money. I'll just go buy the exact one somewhere else (except without the interior suede package which I don't really like anyway). It will be a pain in the rear, but I would have walked away the night I bought her if I didn't like the deal, and I'll walk away now if I have to, i.e., if they don't hold up their end of the bargain.

What's with Chevy dealers making deals, signing contracts, then going back on the terms and changing up the deal after the fact??


(On a lighter note, attached are some pics of my (current) baby)

[daveagogo1]

Financing i have seen fall apart several times and NOT just with Chevy dealers. All the prelim info you supplied said it was good enough to the dealer. That is contingent on the underwriting. Clearly they saw something they didn't like in the way of down payment to bring down monthly payments or credit is not as solid as you believe it is or it wouldn't be denied at the terms set.

If your credit is excellent then why not get financed through your bank or CU? Many times they can beat a dealer network rate.

PS. Check your sales contract for a statement (bail agreement) essentially saying the DEALER will do their best to aquire the financing at the terms stated in the contract. This does not mean they will be able to. If they can't then yes the terms change and or car goes back. Many people do not actually have financing approval when they drive off the lot. It's called spot delivery. The dealer owns the car still until financing is approved regardless if you already took it or not.

The DUSK deal was shady.
The ZL1 deal simply means you're credit / ability to pay was borderline and they thought it would fly but, didn't at those terms.

[FINALLYSATISFIED]

Your story sounds VERY similiar to what I'm currently going through. A check was given to the dealership for my SW 1LE. A buyers order was completed, check was exchanged, etc. They promised me a vehicle they did not have on there lot but claimed they would be receiving it in 2-3 days which never happened.

So let me get this straight. The ZL1 you currently have, paperwork was already signed and they are saying they want an additional 3k? Nope, don't do it. If paperwork was signed and completed its the dealers fault for giving you that deal, period. A similiar story happened to a guy in Chesapeake, VA where the dealership sent the customer to jail after car theft only to realize all the paperwork was filed and completed. The dealership made a mistake and sold him the Chevrolet Traverse minus $5000. Needless to say, he is suing for $3million and will probably get it.

[Angrybird 12]

Could you check to see if you can acquire your own financing from your bank? I know that even State Farm has a financing arm that could do it for you.

[Black1le]

Originally Posted by daveagogo1

Financing i have seen fall apart several times and NOT just with Chevy dealers. All the prelim info said it was good. That is contingent on the underwriting. Clearly they saw something they didn't like in the way of down payment to bring down monthly payments or credit is not as solid as you believe it is.

If your credit is excellent then why not get financed through your bank or CU? Many times they can beat a dealer network rate.

Good luck.

Well I have perfect credit history, no negatives and all payments on time, but my oldest account is only 4 years old and I have lots of student loans so that apparently pushes it down. Still, it falls in the good to excellent range, though not perfect.

Originally Posted by MY1STCAMAR0

Your story sounds VERY similiar to what I'm currently going through. A check was given to the dealership for my SW 1LE. A buyers order was completed, check was exchanged, etc. They promised me a vehicle they did not have on there lot but claimed they would be receiving it in 2-3 days which never happened.

So let me get this straight. The ZL1 you currently have, paperwork was already signed and they are saying they want an additional 3k? Nope, don't do it. If paperwork was signed and completed its the dealers fault for giving you that deal, period. A similiar story happened to a guy in Chesapeake, VA where the dealership sent the customer to jail after car theft only to realize all the paperwork was filed and completed. The dealership made a mistake and sold him the Chevrolet Traverse minus $5000. Needless to say, he is suing for $3million and will probably get it.

In your situation, I don't know what to say b/c I know 1LE's are tough to come by right now. Anything less than the 6-8 week wait on ordering one might not be bad. For me, there were Dusks on the ground at the time I almost bought that one, so I knew I didn't need to be waiting for weeks.

As for the ZL1, yes, everything is all signed up, I brought her home nearly two weeks ago. I agree, it should be the dealers problem.

Originally Posted by Angrybird 12

Could you check to see if you can acquire your own financing from your bank? I know that even State Farm has a financing arm that could do it for you.

Yeah that's one thing I'm going to try tomorrow (and probably would have tried originally if I hadn't been initially happy with the deal). Like I said, either I get the financing I agreed to (or better) or I'm walking away.

[daveagogo1]

Originally Posted by Black1le;6020558

[B

Yeah that's one thing I'm going to try tomorrow (and probably would have tried originally if I hadn't been initially happy with the deal). Like I said, either I get the financing I agreed to (or better) or I'm walking away.[/B]

Hope it works out for you. But, i will bet money they tried to get you financed at those terms as best they could BEFORE they called you. They just want to sell a car. They don't finance it so they really don't want it back.

I'm afraid unless you pay the extra 3k you will be leaving without the ZL1.

[Black1le]

Originally Posted by daveagogo1

PS. Check your sales contract for a statement (bail agreement) essentially saying the DEALER will do their best to aquire the financing at the terms stated in the contract. This does not mean they will be able to. If they can't then yes the terms change and or car goes back. Many people do not actually have financing approval when they drive off the lot. It's called spot delivery. The dealer owns the car still until financing is approved regardless if you already took it or not.

The DUSK deal was shady.
The ZL1 deal simply means you're credit / ability to pay was borderline and they thought it would fly but, didn't at those terms.

Yeah I think you're right, it's just that after my first experience, it sucks to have my second experience getting f'd up again. I know I can't force them to give me the deal they said they could, which is why I'll give back the ZL1 if I have to, but in my mind, they shouldn't have over-promised if they couldn't deliver. I think they knew I would have walked out if I didn't like the deal, and so they over-promised to get me to sign the paperwork, and thought they could pressure me into handing over more cash after the fact. That's what's shady about it.

[C586]

Why even go to the dealer?? Just make your payments. I don't get how the dealer would let a car leave the lot without them knowing if they where gonna get paid for it. Screw them. If anything call the place they got you financed through. The dealer probably just wants more money for the car and this is how they are trying to get it. Just ignore the dealer. Don't even go there.

[CHMSC]

Dealers often let people take cars without the financing being completed especially a buyer with a good credit rating. They assume they will get you financed. Also why you will get tons of denials in the mail from banks they tried to get you approved with.

Personally I would enjoy the car and give back to them with as many miles on it as possible.

Go get another one but get your loan approved before you buy it. I had my loan done a week before I bought my car.

[SlingShot]

To be honest, I don't see how you think you can finance $60k worth of car for only $4500.00 down, without the bank wanting more.

[ENV US]

Who is the dealer, I had a similar thing happen with a dealer in McKinney (not a Chevy dealer). Better check your paperwork, you may have signed something that says you are responsible for the wear and tear while the vehicle was in your possession. Most dealers have a document called a "hold harmless" that states you will return the vehicle if the paperwork needs to be redone. Obviously in this case it will have to be redone.
By the way in my case the sales manager threatened my wife which they happened to record! We have four drivers in our house, I buy at least one car a year my dealer lost a lot of potential business.

[Black1le]

So I went back I read through the documents that I signed again. The "conditional delivery agreement" (the one that says I have to give the ZL1 back if they don't get the financing) says that it is VOID once a "retail installment sales contract" is signed. That is EXACTLY what I signed with the dealership, it says it right at the top and outlines the rate, the amortization schedule, the downpayment, everything. In addition to that, I also signed a "purchase agreement." As far as I see it, I have no obligation to give the ZL1 back, and I'm only obligated to pay what's on the sales contract.

[Black1le]

Originally Posted by ENV US

Couple questions? Who is the dealer, I had a similar thing happen with a dealer in McKinney (not a Chevy dealer). Better check your paperwork, you may have signed something that says you are responsible for the wear and tear while the vehicle was in your possession. Most dealers have a document called a "hold harmless" that states you will return the vehicle if the paperwork needs to be redone. Obviously in this case it will have to be redone.
By the way in my case the sales manager threatened my wife which they happened to record! We have four drivers in our house, I buy at least one car a year my dealer lost a lot of potential business.

See above post, the doc that says I'm responsible for wear and tear also says its void once the sales agreement is signed. If they want to play hardball though, I'll probably give the ZL1 back anyway and just do this:

Originally Posted by CHMSC

Personally I would enjoy the car and give back to them with as many miles on it as possible.

Go get another one but get your loan approved before you buy it. I had my loan done a week before I bought my car.

There's no way I'm giving it back without all of my money and trade-in back though.

PM me and I'll tell you who the dealers were. I don't want to get accused of something down the road if I say who they were publicly. Both are in the Dallas area though.

[daveagogo1]

Originally Posted by SlingShot

To be honest, I don't see how you think you can finance $60k worth of car for only $4500.00 down, without the bank wanting more.

I have never been asked to make a down payment on my cars. Some i voluntarily did. Others i paid nothing and walked out with $50k cars 45 mins after showing up at the dealer with just a signature.