It was fun

[ticowarbird]

Yeah I got the trade in back. Had to pay nothing...so they basically leant me the camaro, I enjoyed it though.

[pickwithaustin]

Originally Posted by ticowarbird

...sorry to hear about the house, I don't even know what to do in that situation....

I was kidding.

To your situation, if your bank approved you why did you have to give the car back?

[ticowarbird]

The bank approval came after they tried all the other banks. They said they tried every bank possible and Couldn't get anywhere. I called my bank and they wrote the check right there for me to use at any dealership. Doesn't sound like they tried every bank.

[caverman]

So go back to the dealer with your trade-in and check and tell them to knock off $1,500 for the Camaro since it's a used car now.

[tom231]

Originally Posted by 5ohcamaro

wait..so you were able to take a car off the lot before you and the dealership came to terms? I'm really confused here

Why is that confusing? In 2010 a dealer let me take a brand new Ford Explorer Sport Trac home overnight. I didn't sign anything before I took it. All they did was verify my credit before hand.

[MLAZ1990]

Originally Posted by ticowarbird

Yeah I got the trade in back. Had to pay nothing...so they basically leant me the camaro, I enjoyed it though.

And your bank won't approve you for that same Camaro?

[Egon]

This is actually quite common with less than reputable dealerships, it’s called the spot delivery scam. The dealer sets everything up says you qualify for whatever great interest rate but does not finalize the financing. Then a week or two later the come back and say the financing fell through and all you qualify for is a much higher rate. To prevent this always know what your credit score is before buying a car and lock up financing before you ever set foot in the dealership. If the dealership can get you a better rate then great but you have a back up if they can’t. And most of all don’t ever take possession of the vehicle until financing is agreed upon and that paperwork has been signed. My guess is the OP signed paperwork but it had a clause “subject to financing approval” in there somewhere. He did the right thing in telling the dealer to pound sand and taking the car back though. You should file a complaint with the BBB and let everyone here know what dealership this was so we can avoid it in the future.

[ticowarbird]

Originally Posted by Egon

This is actually quite common with less than reputable dealerships, it’s called the spot delivery scam. The dealer sets everything up says you qualify for whatever great interest rate but does not finalize the financing. Then a week or two later the come back and say the financing fell through and all you qualify for is a much higher rate. To prevent this always know what your credit score is before buying a car and lock up financing before you ever set foot in the dealership. If the dealership can get you a better rate then great but you have a back up if they can’t. And most of all don’t ever take possession of the vehicle until financing is agreed upon and that paperwork has been signed. My guess is the OP signed paperwork but it had a clause “subject to financing approval” in there somewhere. He did the right thing in telling the dealer to pound sand and taking the car back though. You should file a complaint with the BBB and let everyone here know what dealership this was so we can avoid it in the future.

Thanks for the info. I didn't know it had a name but now that you explain it it makes a lot more sense. I'd rather not mention the name only to avoid any kind of BS legal fees (they can afford lawyers whereas I like my money right where it is).

[5ohcamaro]

Originally Posted by tom231

Why is that confusing? In 2010 a dealer let me take a brand new Ford Explorer Sport Trac home overnight. I didn't sign anything before I took it. All they did was verify my credit before hand.

I guess because i've never heard of it. Ive only ever financed one car out of 9 that ive owned. So I dont have much experience with financing a car through a dealer.

[Storm T]

How can that even be legal? I'd definitely mention the dealer name. They can't do anything just because of that. I don't get what they gain though? Now the idiots have a car back with I bet 1k miles on it that was new? They lost a few thousand for sure.

How many miles did you put on it? I hope a lot. lol

[ticowarbird]

yeah about a 1000. the difference between a 2006 Monte Carlo Lt and the 2011 Camaro RS LT2 was HUGE, it even took a while for me to get used to the car I had for 8 years. Just the fact I was able to go faster than 113 was enough for me to want the car. But I'm not buying from the dealership in Sanford, FL anymore and won't name them specifically.

[maddoggyusa]

I think I read your thread when this dilemma started. oh well... sounds like you weren't in love with the car anyhow and got your car back. not a bad deal.

[rebelyell22]

If it's the one at "CB" Chevrolet, I would look around. You could get a 2SS for that price with not many more miles if you looked hard enough

[Egon]

Originally Posted by Storm T

How can that even be legal? I'd definitely mention the dealer name. They can't do anything just because of that. I don't get what they gain though? Now the idiots have a car back with I bet 1k miles on it that was new? They lost a few thousand for sure.

How many miles did you put on it? I hope a lot. lol

They were probably trying to pressure him into financing with a much higher interest rate, but in the end it bit them in the ass. Serves them right though.