ksj

Hi all,

I thought I'd ask for some advice on the board since many of you have already, or may go through similiar issues.

I picked up my car on 9/11 from the dealer. Signed the PO and away I drove. They scheduled me to meet with the finance guy that Saturday.

Now, before I went down I had gotten pre-approved with NMAC so that wouldn't be any kind of an issue. In fact I'd heard on this board that they had 5.5% rates, and my credit is good, and I make very good money.

Anyway, I went down the following Saturday for my noon appointment. The finance guy didn't show up until 12:45. He called the SM at 12:15 and said he thought the appt was at 12:30 and he'd be right there. As I mentioned, he showed at 12:45.

So we're signing papers and I'm telling him no to everything except prepaid maintenance and that had to be through Nissan, not the dealer. Got that all worked out, then he places the contract in front of me. It has a 7.9% rate. I immediately asked what was up since NMAC was offering 5.5% to other people. He said that was what they had offered me. BTW, my preapproval email from NMAC was print side up in his folder.

Now, I suspected that something unknown and bad had gotten on my CR, so I looked. It looks fine. I called NMAC but they only have an automated system, and it didn't respond to my SSN.

This morning I received 3 things in the mail. My dealer comment card, a card saying the plates were in, and payment coupons from Chase Auto Finance(??).

Turns out the dealer didn't use my preapproval with NMAC and went with his choice for financing, not mine.

I immediately complained to Nissan, then went down to get my plates. I asked to speak with the GM or owner, who wasn't there. I told my salesman I was pissed and that I planned to contact an attorney since I felt deceived (and my pocket was going to be considerably lighter. He asked me to explain it to the SM, who proceeded to give me a hard time and tell me I shouldn't have signed and should just go get it refi'd (the fact that it's a used car now escaped him). Needless to say he also wants me to give them good marks across the board on the comment card!

Any advice? Am I screwed? Should I call the AG and hire an attorney? I still have my preapproval mail from NMAC that was dated 2 weeks before I picked up the car. What do you think?

TIA,

ksj

westpak

iTrader: (19)

Well the finance documents you signed should say who the bank or financial entity is that you have the loan with.

If you signed the paperwork that said Chase but you assume it was NMAC and trusted them then you can't do much other than gig them on the survey.

What you can do is contact some of the online lenders or your bank and explain the situation and I am sure you can get a new car loan since it is so close to purchase.

I just refinanced my son's 2001 car which is a year old and they gave me their new car loan rates, it's not a lost cause.

RobJames

ksj,

I am a lawyer, and though I don't work much in consumer law, I can give you a couple of tips. First, right a letter explaining all of this. Copy the GM, SM, Nissan, the bank you were pre-approved at, Chase and everyone else you can think of. Letters have a way of getting things done where talk is cheap. You did make a mistake by signing, but you are not as sophisticated in THESE matters as the salesman, and I'd take your position over theirs any day. You can hire a lawyer, but it will cost more than it is worth. Also, threaten to notify the better business bureau. If they don't fix it, file a complaint with the BBB.

This is really strange because I just got a 4.49 rate from Chase through a dealership in Mass, from where I am having my car shipped. You might also try Peoplefirst.com. I think you could get a rate comparable to the one you were quoted even for a used car there. I was going to finance there until the dealership offered me this better deal with Chase.

Good luck buddy. I know how you feel. Remember, document everything and notify everyone, and I'll be surprised if you don't get some action.

rep15

Kevin I have a check from PeopleFirst Bank from the internet for 5 years 5.49% (now down to 5.24%) on top of my monitor. Since my business will lease the car I will have the payment if the dealer tries to squeeze me on the lease factor. I suggest you get the financing through PeopleFirst (takes about 10 minutes and a check is in you hand in 3 days) to give you leverage. If the Nissan dealer does not want you to pay off the loan (read that - they get no interest benefit) then they will become more interested in negotiation. Without any leverage you can not bargain.

Kevin, let me drive your car again I am wasting away waiting for the dock strike/lockout to end.

ksj

Thanks for the answers guys.

The contract was a form contract(LAW 553-WA). It does not say who the finance company is at all, and I was sitting there talking to guy about NMAC when I signed it. Heck I handed him the pre-approval email.

As it happens I have group legal through my employer. I've never used it and never expected to have to, but it looks like it may be useful. I was in meetings all afternoon once I got back, so I haven't had a chance to call them yet.

I think I'm going to try again to get ahold of NMAC and check what rate they would have offered had it gone through them, and check if someone (my bank?) would act as if it's still a new car and give me an appropriate rate. I'll check with Peoplefirst as well.

Do you think it will be helpful that I told Gieco that the additional insured was NMAC when I added the car?

Bob -Will you be around tomorrow?

rep15

Kevin, in the afternoon!?

2003z

iTrader: (7)

as far as refinancing, most banks/credit unions consider current and past year cars as new. I bought a used BMW from a private party and got new car financing rates.

Here is probably what happened: The dealer tried to pull a fast one, they do it all the time. They are able to 'mark up' the interest rate that you should have gotten and keep the spread. Just go to your credit union or an online bank, refinance and never go back to their dealership. Don't forget to put your feelings on their survey!

I tried to PM you so that you could get this info faster.

I would see what you could do with NMAC first and file complaints. They will change there additude and so will other dealerships if the BBB is bringing down their sales.

If that is getting you no where ...... Peoplefirst has great loans yet not many people know that being a member of Costco Whole sale brings your rate down to 4.99% and 4.89% if you are an executive member.

BENCH

I have a house, one credit card and a $35/yr job. I tried financing the base model for $27K / 5yrs. Peoplefirst gave me an 11.95% APR. WTF?

marcZZZ

I feel so bad for you having to wait, I hope your car gets here soon. It is so funny that you need your 350Z fix, these cars are so addicting. We absolutely have to meet as soon as you get your car, Kevin you and I, and of course Mrs. Rep15...I'd love to see that Lemans color. It was soooo difficult for me waiting those last few weeks, they seemed to drag by. I hope this strike ends soon, one of my co-workers' husbands works on the docks, he says when they start up again, he will never be home because they will be working their butts off trying to play catch-up. If I were in your shoes I'd be pulling my hair out too. Good luck

marcZZZ

Kevin, I never did trust that dealership, whatever you do don't bring your car in there for servicing. The service dept is deceitful, too. When I met the new car sales guy..my first impression was not good...my gut and womans intuition tell me they are not honest and not straight shooters. I wish you the best in your dealings with them... I would let them have it on the survey. I believe the attorney general and BBB have had previous complaints on that dealership. When rep15 gets his car we should meet. Good luck Kevin. Why do they always try to screw with the nice guys?

ksj

Hi Marcy,

I thought the experience was going pretty well so far. They had a guy named Bob do my PDI, but I think he may work at the dealership up the road (same GM/owner).

I thought the salesman and manager were trying hard to be up front, honest and accomodating. They really did a good job, and my only complaint is this finance thing.

It seems like I can refinance at a much better rate with Costco, so I'll get a buy out price from the dealers choice Monday and get this over with. Best part is it looks like most of this can be done on-line.

Thanks all!

Ps I pm'd Bob about his ride request.

GameOver

Yep you finance through Nissan but they sell the account to different banks, in this case they sold it to Chase Manhattan Bank.

Thats what they told me at the honda dealership when I bought my sisters car.

calm down you can always refinance

westpak

iTrader: (19)

I glad things will work out, I had problems too at the delivery but got them handled quickly and went on with my business of enjoying the hell out of this car just go out and have fun with it, enjoy the double takes and hard stares just watch out for the hand and nose prints on the windows.