Edmunds Answers

Voted Best Answer

  • avatar knowledgepower 02/26/13 1:14 pm PST

    Okay great question and to the point, you have no contract whenever the Finance Manager wants to present a lower payment to you as well as sending paperwork to a co-signer. These guys are trying to hang on because they have a deal if you want it. The only thing towards your credit that has happened is a simple inquiry which goes away in two years. Decide if you want to continue to do business at this dealership and maybe go in with your co-signer and see what options they present. This is an easy question to answer because I was the guy who sold the cars and sometimes the guy signing you up in the Finance Office. If you do have a strong co-signer they have a say in this too, just make sure they don't do too much to blow the deal but make them understand whatever interset rate you are presented with was determined based upon both credit ratings. If the deal sound good and your co-signer is okay then go for it.

Answers

  • MrShift@Edmunds 02/26/13 11:24 am PST

    First thing I'd if I were you is carefully re-read your sales contract and see if there is anything in there where you agreed to pay the dealer a daily penalty in case the financing didn't go through...

  • knowledgepower 02/26/13 1:14 pm PST

    Okay great question and to the point, you have no contract whenever the Finance Manager wants to present a lower payment to you as well as sending paperwork to a co-signer. These guys are trying to hang on because they have a deal if you want it. The only thing towards your credit that has happened is a simple inquiry which goes away in two years. Decide if you want to continue to do business at this dealership and maybe go in with your co-signer and see what options they present. This is an easy question to answer because I was the guy who sold the cars and sometimes the guy signing you up in the Finance Office. If you do have a strong co-signer they have a say in this too, just make sure they don't do too much to blow the deal but make them understand whatever interset rate you are presented with was determined based upon both credit ratings. If the deal sound good and your co-signer is okay then go for it.

  • maninabun 02/27/13 11:45 pm PST

    Well it turns out the joke is on me!!!!!


    the GM forced the original contract through. Im stuck with a car that they had to lie about my income, to get off the lot. Good first time buy!

    He said he lost money on the vehicle. Why wont he take it back to resell as used? Used cars get 1=1 nowadays. This is confusing, upsetting, and frustrating considering how much research I did.

    like I said, jokes on me I guess....

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