Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums - Camaro5.com
 
Emblempros
Go Back   Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums - Camaro5.com > General Camaro Forums > Camaro Price | Ordering | Tracking | Dealers Discussions

Camaro Price | Ordering | Tracking | Dealers Discussions Discuss pricing and ordering experiences.

Reply
 
Thread Tools
Old 02-03-2010, 10:00 PM   #1
tmac1granger33
NM HT5
 
tmac1granger33's Avatar
 
Drives: COTW 3/5/12
Join Date: Jul 2009
Location: los lunas, New Mexico
Posts: 2,003
So was I approved??

Ive ran my credit at 2 dealerships.. the first said everything was a go... I bailed out on the deal... Got a letter from GMAC saying we must regretfully inform you that we are unable to perform transaction etc...


the second dealership I tried said that I received that letter because I did not go through that deal... Well I just got another one.. I dont understand though.. They worked the numbers told me my interest rate etc..

So just to confirm.. have any of you guys experienced this?? wouldnt they have told me once they ran my credit instead of wasting my time??
__________________
Status 22" Staggered painted wheels/Eibach 1" Pro Kit Lowering Springs/Heritage Grille/Razzi Ground Effects Kit/RK Sports 3 piece Spoiler/DT Shortie Headers/Injen CAI/MRT 1.0 /Resonator Delete/Oracle Dual Red-white halos/Knight Rider grill Light/Sparks RS emblem/LED Sidemarkers/Red interior lighting/Gm fuel door/Halo Foglights/Trifecta Tune/IGGEE Seat covers/ Sinister Hood,VMAX throttle body/VMAX Black Iceolator/Technostalgia LED Taillights/3dCarbon Fender Vents/AAC Concept mirrors/zl1 bumper/AAC Plasma's/Scosche kit

WL-BMR Strut Bar/Custom rear vents
tmac1granger33 is offline   Reply With Quote
Old 02-04-2010, 02:37 PM   #2
AnnaBear@SpartaChevy
 
AnnaBear@SpartaChevy's Avatar
 
Drives: 2011 Camaro 1SS Manual Synergy Grn
Join Date: Apr 2009
Location: Sparta Chevrolet, Sparta, MI
Posts: 2,106
Send a message via Yahoo to AnnaBear@SpartaChevy
Quote:
Originally Posted by tmac1granger33 View Post
Ive ran my credit at 2 dealerships.. the first said everything was a go... I bailed out on the deal... Got a letter from GMAC saying we must regretfully inform you that we are unable to perform transaction etc...


the second dealership I tried said that I received that letter because I did not go through that deal... Well I just got another one.. I dont understand though.. They worked the numbers told me my interest rate etc..

So just to confirm.. have any of you guys experienced this?? wouldnt they have told me once they ran my credit instead of wasting my time??
I would imagine they sent you in to more banks than just GMAC to get the financing all set. Sometimes other banks offer better rate and term than GMAC. So, if GMAC declined you, they would send a letter. If your dealer quoted rate and term, it must have been with another bank.
AnnaBear@SpartaChevy is offline   Reply With Quote
Old 02-04-2010, 03:04 PM   #3
armysig
Catch me if you can
 
armysig's Avatar
 
Drives: 2012 IOM ZL-1
Join Date: Nov 2009
Location: Texas
Posts: 2,466
Your best bet is to find a Credit Union that you qualify to join. They normally will be flexible when it comes to credit more so than the big finance companies, and most will have some nice low rates. Sure it may be easier at that time to get approved and drive away the same day, but you'll pay a little a lot more in interest. Don't let the "gimmie now syndrome get to you."

Do some shopping around; don't pull your credit until you know you're for sure to buy. Also don't forget you can pull your credit with no penalty once a year.
__________________
armysig is offline   Reply With Quote
Old 02-04-2010, 03:53 PM   #4
jrboyd_1980
A ***'s Headache
 
jrboyd_1980's Avatar
 
Drives: Everything
Join Date: Aug 2009
Location: Texas
Posts: 2,188
What happened was you got declined by the automated computer system. That letter is automatically generated when that happens, the finance manager will then call up the lender, talk to an actual person and re-hash the deal, and can usually get the deal approved that way. It may have gotten declined for something simple, as you not having a actual land line phone number, or the addresses don't match on your reports.
jrboyd_1980 is offline   Reply With Quote
Old 02-04-2010, 05:44 PM   #5
tmac1granger33
NM HT5
 
tmac1granger33's Avatar
 
Drives: COTW 3/5/12
Join Date: Jul 2009
Location: los lunas, New Mexico
Posts: 2,003
Quote:
Originally Posted by little_bank_robber View Post
I would imagine they sent you in to more banks than just GMAC to get the financing all set. Sometimes other banks offer better rate and term than GMAC. So, if GMAC declined you, they would send a letter. If your dealer quoted rate and term, it must have been with another bank.
Thank you.. Im just kinda worried,,, i mean what if i would have traded my car in right then and there...so it must have been through a different bank..
__________________
Status 22" Staggered painted wheels/Eibach 1" Pro Kit Lowering Springs/Heritage Grille/Razzi Ground Effects Kit/RK Sports 3 piece Spoiler/DT Shortie Headers/Injen CAI/MRT 1.0 /Resonator Delete/Oracle Dual Red-white halos/Knight Rider grill Light/Sparks RS emblem/LED Sidemarkers/Red interior lighting/Gm fuel door/Halo Foglights/Trifecta Tune/IGGEE Seat covers/ Sinister Hood,VMAX throttle body/VMAX Black Iceolator/Technostalgia LED Taillights/3dCarbon Fender Vents/AAC Concept mirrors/zl1 bumper/AAC Plasma's/Scosche kit

WL-BMR Strut Bar/Custom rear vents
tmac1granger33 is offline   Reply With Quote
Old 02-04-2010, 05:55 PM   #6
Kalenn
Fan of all things Camaro
 
Kalenn's Avatar
 
Drives: 07 Ford Fusion SEL V6
Join Date: Sep 2009
Location: Oregon
Posts: 360
Lenders are required by law to send a letter if you were declined. Most likely, as was previously stated, it's no big deal. Call the dealer and ask for clarification if that would help you to feel better. They won't mind.
__________________
"Ladies and gentlemen take my advice. Pull down your pants, and slide on the ice."

"E for electricity... V For Chevy Volt and me!"
Kalenn is offline   Reply With Quote
 
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Is the 2010 Camaro smog approved for California if bought in Minnesota IHateWaiting 5th Gen Camaro SS LS LT General Discussions 12 10-06-2009 07:13 PM
2010 Camaro incentive run down as of 9/11 CamaroScotty Camaro Price | Ordering | Tracking | Dealers Discussions 23 09-14-2009 08:31 AM
Getting Approved for financing BlackRS Camaro Price | Ordering | Tracking | Dealers Discussions 16 08-08-2009 09:10 PM
How positive are you about getting your loan approved. trudawg660 Camaro Price | Ordering | Tracking | Dealers Discussions 36 05-08-2009 11:19 AM
Buick Regal Approved for North America! FenwickHockey65 General Automotive + Other Cars Discussion 25 02-06-2009 01:11 AM


All times are GMT -5. The time now is 11:54 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.