New owner...or not

B

Bubba Hyde

Junior Member
Hello, all.

Posted a week or so back regarding a DTR 2004 that I was looking at. Got the seller to meet what I was willing to pay and we proceeded to fill out the credit app. Went through a local credit union, even though I asked several times if he was sure that they covered the county that I live in. I was assured each time that it wouldn't be a problem. Loan went through quickly, and I went Saturday and picked up the car.

Wow. Very impressed with the overall package. Comfortable, capable, and decent fuel mileage to boot! Enjoyed the car over the weekend and into the week until today....

Got a call from the salesman. Turns out that the CU doesn't service the county I live in after all (didn't I ask that several times before?). No problem with the loan, per se, but I don't qualify for membership in the CU, so I can't get the loan after all. But, he has a buddy that lives in a county serviced by the CU that would be glad to claim he's my wife's brother so we could get membership. No, not going to do that. It's at least unethical and potentially illegal. Ask him if I can get the same payment/terms through another source. Nope, can't happen. :censor:

So, long story short, I have a contract signed by all involved stating that I bought this car, but it's worthless because the sleazeman didn't do his job to begin with. Great, what's my options now?

He'd be glad to run the deal through another source (at about $50 more a month on the payment), or I need to return the car.

Bye bye, Marauder. :fire:

So, a friendly word of warning. If you're in the neighborhood, and you think you want to buy a car from Ringgold Dodge in Ringgold, GA - RUN! QUICKLY!

This would have been my third purchase there (second in the last calendar year), but the GM told me that I had a bad attitude when I told him he should make the deal right. Guess that just goes to show where customer service has gone.

So, it was fun while it lasted.

Bubba
 
TooManyFords said:
I would ask a lawyer...

I know a good one too!

John
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I have a call into one that I used to set up my corporation. If he ever decides to call me back I'd love to hear what he has to say about it...
 
Don't be in a rush to take the car back. Someone at that CU approved the loan, and it's their problem. They need to make a big exception and make you a member.

Also, sometimes this is a trick by some sleazy dealers to get to keep a trade-in, if there was one, while getting the car back.
 
RCSignals said:
Don't be in a rush to take the car back. Someone at that CU approved the loan, and it's their problem. They need to make a big exception and make you a member.

Also, sometimes this is a trick by some sleazy dealers to get to keep a trade-in, if there was one, while getting the car back.
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Yeah I agree...They made the loan.. you had a deal...What's this stuff about county boundries? I think recent fed banking regs changes have made it a lot easier for credit unions to sign up new folks with a lot less hassle about being part of some selective group.
You may want to give your friendly State Attorney Generals office a call. They may be very interested in your predicament. It at least sounds like a Bait and Switch and maybe much more. Good luck!
 
Hmmm...

It's not unheard of to deliver a car without approved financing, then for some reason the financiing falls through and the car has to be returned. These days most OEM dealers have connections to their financing services during normal business hours, but secondary sources are closed after say 5:00 PM or on weekends.

What I'm curious about is whether they typed up a Retail Installment Contract that you signed. When I took delivery of my SSR, for example, it was right at the dealership's closing time but I had a GMAC Retail Installment Contract signed and in my hot little hands. Done deal.

Did you talk to the Credit Union yourself?

Car dealers don't make money delivering cars that they have to take back. If they can't swing alternative financing with a bank or other institution (like DC Credit), take the friggin thing back and hand them the keys. Tell them to call you when they get financing on the terms you agreed to. Then leave if they don't accomodate you.
 
If you look through that mountain of paper you signed you'll probably find a clause which basically says "purchase will go through if all the pieces fall into place". Standard language in loan contracts. Lets them get you out the door without having to wait for the underwriters to close the loan. Sux but that's bidness.
 
BruteForce said:
If you look through that mountain of paper you signed you'll probably find a clause which basically says "purchase will go through if all the pieces fall into place". Standard language in loan contracts. Lets them get you out the door without having to wait for the underwriters to close the loan. Sux but that's bidness.
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Exactly. They take a peek at your credit record/score, if they think you'll be bought, they deliver you the car. Used to be they'd let you drive it home without a signed contract (I think GM had a promo last year that let you have a 24 hour "test drive"), and I've heard of this still happening. This would sometimes backfire when somebody drove the car around for a couple of weeks then decide not to buy the car, or somebody figured out the lost interest money going down the drain for deals that took a few days to get signatures on contracts.

Back in the day (1980 or 81) I remember seeing a black Chevy Silverado at Norm Frede Chevrolet (Clear Lake, TX) that was about a year old, but was scratched from one end to the other, the interior a mess. What I was told was this truck had been delivered to a pro football player, and there was a "misunderstanding" about whether he had to make payments on it or not. The FB player thought no, Norm Frede thought yes. Took them a year to repossess it (it was out of state when they found it).
 
Donny Carlson said:
It's not unheard of to deliver a car without approved financing, then for some reason the financiing falls through and the car has to be returned. These days most OEM dealers have connections to their financing services during normal business hours, but secondary sources are closed after say 5:00 PM or on weekends.

What I'm curious about is whether they typed up a Retail Installment Contract that you signed. When I took delivery of my SSR, for example, it was right at the dealership's closing time but I had a GMAC Retail Installment Contract signed and in my hot little hands. Done deal.

Did you talk to the Credit Union yourself?

Car dealers don't make money delivering cars that they have to take back. If they can't swing alternative financing with a bank or other institution (like DC Credit), take the friggin thing back and hand them the keys. Tell them to call you when they get financing on the terms you agreed to. Then leave if they don't accomodate you.
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Actually, the loan app was completed on a Thursday, which gave them two days to review it. We signed a mountain of paperwork, including a Retail Installment Contract, stating the terms of the purchase. That's what bothers me most - I have a SIGNED CONTRACT! My credit score is excellent - I've gotten signature loans for the business that were close to the purchase price of the car. The loan itself was approved by the CU, but they realized later that I wasn't eligible for membership due to restrictions on their charter. If I lived/worked/worshipped/volunteered/owned a business one county north, I'd be fine. When I talked with the manager of the CU, she said I never shuld have been offered financing through them without verification of eligibility. There are other sources for financing, but the payment would be higher and I was trying to cut the monthly outlay by dumping the Expedition - the new rate puts the loan within $30 a month of the Expy, which isn't worth the swap.

I guess the second thing that bothers me about the whole mess is that the sales rep told me he knew a guy that would basically lie for me and say he was an immediate family member so that I can qualify. A real stand-up guy, that salesman. Felt like I needed a shower after that one.

Left them the car yesterday evening, after they signed a document stating that the car was returned in a condition equal to the condition of original delivery. Picked up my trade-in and swore I'd never do business with them again.

I'll keep you posted....
 
Bubba Hyde said:
I guess the second thing that bothers me about the whole mess is that the sales rep told me he knew a guy that would basically lie for me and say he was an immediate family member so that I can qualify. A real stand-up guy, that salesman. Felt like I needed a shower after that one.
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Too bad it will be your word against the salesman's. But, I would still report it to the Manager and if that did not work to the regional Rep. or even the BBB.
 
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Bubba Hyde said:
The loan itself was approved by the CU, but they realized later that I wasn't eligible for membership due to restrictions on their charter.
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I know you've already returned the car, but it seems to me the statement above says it all: THEY approved the loan. THEY realised THEY made a mistake. THEY should have made it right by YOU, not the other way 'round...lousy customer service by both the dealer and the CU. :mad:
 
Been fine, and busy. Still trying to finagle a trip to DC area. I'll let you know if I can make it sometime.
 
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