Any new words from the dealership?

I had similar situation (only reverse) but it was a matter of 2 days after I had the car and I went from a 4.9% to 2.9%.

From what others have stated and the pieces of the contract you put up I think you'll be fine, but smart move by contacting your lawyer-won't hurt to have him contact them as well.

 

At the very least, have them just knock off $500+ dollars off the car and then charge you the higher rate.

 

Dealer is outside of the 10 days in its own contract. I'd send them a letter so stating by registered mail. Given the 10 day thing, your good.

 

My credit scores are between 680 and 700, which is tier 2. He told me he got me the tier 1 rate through NMAC. I had applied through CapOne before going in and got approved with the tier 2 rate. I could still go with CapOne if I want, but I'll be paying a little more. If it comes down to it, I'd rather pay more with CapOne than give the dealer another cent.

A trade-in doesn't apply to me. I still have the car that I drove to the dealership and he knows that. And he did not explicitly say that he wanted the car back, so I, technically, have not been informed yet. Right?

I could always try to negotiate a lower price in exchange for the higher rate, like some of you have mentioned, but it's the whole principle of the matter that keeps me from not wanting to do it.

2003z, that's a good idea with the certified letter. I'm going to write a letter right now. Should I address it to the owner or the guy who sold the car to me (the finance manager)?

 

I think that's a bit BS. I got 3.9% from NMAC just three weeks ago and my credit score is about 720.

I told them and made them put it in the contract that I would NOT take delivery unless they guaranteed me the 3.9%. It was the dealbreaker - and they got it to stick. Although when I went to the table, they "changed" it to 3.99% - scumbags.

I didn't want to argus the extra $75 in interest b/c I got a really good price.

 

I went with a 72 month loan, so the rates are a little higher. CapOne's best rate for 72 months is 5.29%. I do plan to pay it off in 3-4 years. I just want the flexibility of having lower payments.

I forgot to mention that I am a "first time buyer," though this is my 4th new car. The previous 3 cars were not in my name.

There is also another box that I signed on the contract that states: After this contract is signed, the seller may not change the financing or payment terms unless you agree in writing to the change. You do not have to agree to any change, and it is an unfair or deceptive practice for the seller to make a unilateral change.

 

send the letter to the general manager or the owner, not the salesman or f%i guy.

 

yes they can do that....

all contracts ar contingent on someone buying it....if you dont accept the terms then the dealer will have to roll the car back....and depending on what state you are in will have to pay x amount of dollas per mile over the amount ollowed miles per day....

easy way to get out of purchasing the car though...you dont have to take the new terms but you would have to return the car....

dont listen to the guys that think they know car selling laws.....listen to the ones that know the laws

i am a dealer...i have nothing to gain or lose telling you this.....

most dealers use equifax.....if your equifax score is over 740 you are teir 1 premier

over 700 is teir one and
teir 2 under 700 til about 650 then its teir 3

they thought they could get whats called a teir bump to get you teir 1

but nissan has turned it down for either debt to income or

something.....

hope this helps

if you need anything else feel free to pm me

 

But by their own contract, the dealership is screwed. They notified him outside of their 10-day window. He should not have to return the car NOR accept the new terms.

Contact your lawyer and send a certified letter to the dealership...copying whoever called you, the finance guy, and general manager.

Important: What did you say to them on the phone when they told you this?

 

dude i promise....the dealer is never screwed....you gonna spend thousands with a lawyer over 500 bucks?

the only thing the guy can do is tell them he wont resign the contracts unless they drop the selling price by 500 dollars to make up for the rate...unless the dealership finds another buyer for the contract at the signed terms.....

the 10 day thing isnt gonna hold water.. trust me...we have roll backs up 2 45 days old all the time....
i know what im talking about

im not going to get into a pissing match over it
but if you want to fight over the rate go ahead
and good luck

but the dealership has lawyers too
and they are usually better than one youll get at a decent rate

it will only cost him more in the long run to fight it

 

I prefer 'girl', 'lady', or even 'chick' as opposed to 'dude'

 

lol sorry thought you were a guy....sorry

 

tonylittell is 100% correct.

see if the dealer will drop the price 500.00 dollars, take the higher rate and move on...your still paying the same.

It sounds like they tried to get you a lower tier than NMAC would go, I f you can obtain financing yourself at the same rate do that.

Im a Nissan dealer, and sometimes when we try to get tier exceptions (too help save the customer money....believe it or not, we do try to save people money) NMAC won't budge.

Go to the dealership, sit down and work it out...you have the upper hand when it comes to the survey NNA mails out for customer satisfaction...remind the dealer of that ....good luck.

 

sounds good i guess. but you should really read that link in the first page. i spent the time reading it all (unlike those lazy bastards that won't ahhaha jk) but it was really helpful. well gluck

 

What the two insiders up above say makes sense. I do wonder, though, what would happen if you said "Its outside 10 days, its your problem by contract". They would have two options: (1) send out a car recovery guy to bag your Z and/or get a lawyer on your butt or (2) discount the loan to the loan purchaser to get the yield the lender wats.

My guess is they would go for number 2 since the discount would not be very large ....(rate change was relatively small.)

Why don't you try & let us know which happens first; you find out the loan was sold OR some guy named "Guido" with a busted nose is out repoing your car! LOL!

 

Like I said, it's the principle of the matter. I'm not giving the dealer another cent. If it comes down to it, I'll use my own financing, even at a higher rate. My real problem is that he lied to me by saying, "You've been approved (at said rate)," when I clearly wasn't.

How can a clearly stated item in a contract not hold water? You know within 1 business day if someone can be financed. Why are you giving them 45 days to hold on to their car? My dealer had 2 weeks. He has a list of about 20 lenders in his office. Only 2 of them checked my credit report. He obviously didn't try hard enough. When he spoke to me on the phone, he gave me an option whether to sign a new contract or not. I asked him if I had a choice. He said, "Help me out and sign a new contract." He didn't say anything about returning the car. With all due respect to you dealers on this board, I really do NOT trust people (not just car dealers) who work on commission. I think he just wants more money, especially since I didn't go for the extended warranty. He can also make this work by forfeiting his kickback from the lender for signing my loan.

FYI, I've seen my lawyer go up against Gloria Allred on CNN. I know that he's well respected. His family is also involved in politics. I haven't contacted him yet, since I don't really want to waste his time giving me free advice if this turns out to be nothing major.

The dealer received my certified letter on Saturday morning. I have not received a response yet. I'll keep you guys posted. BTW, I just passed 1200 miles today.

 

ok fella.....i see you know more about this than the guys that do this for a living

you really showed me how smart you are when you told me about our kick backs from the banks.....

expecially when using nmac...nissans motor acceptance corporation....dealer makes alot of money using them...

if they are using nmac the arent aloud to hold points either
like if it was another bank....
and in a secondary bank situation we have to pay them to buy the loan....

i understand you dont want to hear what i have to say because its not what you want to hear....i have no reason to lie to you and another dealer has even confirmed what i said....

hope it all works out for you dude....actually doesnt really matter to me...i have my financing 3.84% x 72 months through bank one

goodluck and dont worry i wont give anymore input to help you as it looks like you know more than i do on this matter

 

Look, I have nothing against you. I don't even know you (especially whether you're really a dealer or not). I actually do appreciate your (and everyone else's) input. No need to be sarcastic with me.

If dealers don't make any money and, if what you're saying is correct, actually lose money, then why do dealers force their financing on people when people go in to pay cash? Doesn't make sense to me.

You all say you have nothing to gain or lose, but I beg to differ. I would not "rat out" my "brother." Why would you? If you all could keep hiding certain "secrets" from customers, then it benefits all of you. Don't you think that makes sense?

BTW, the first lie my dealer told me was that nobody's selling Roadsters for over $100 off MSRP. We all know that's not true.

 

ratting out my brother? that makes no sense...so its dealers against customers now?i thought i was actually helping out a fellow forum member actually with my knowledge on how the business really works...like i said before i have nothing to gain...i am a dealer several members have bought cars from me ...parts from me and serviced with me...

whats funny is why you think i need to lie....for 1 your not my parents or my wife...i dont need to lie to you...im in virginia all the way across the country for christs sake....

now if you read my post and actually thought about what i said before posting i said secondary banks we have to pay to buy loans...not primary banks....if the dealer uses the manufactures banks they cant hold points either...if its a normal primary bank then depending on what your score is they can hold up to 2 points and (they call that back end money or intangible gross) profit that isnt garunteed ...also extended waranties and maintanance agreement fall into that catagory.....

as far as all of us hide things from customers to benifit us? well thats not necesary either....see ...an educated consumer knows where to go to learn the ins and outs of buying a car..consumer reports kbb...edmunds ect ect...the information im giving is already out there buddy...

but then you have the guys that think they have it all figured out (such as yourself) tell us how they believe thins work....and really dont know the first thing about buying a car.....

i dont know why im even explaining this to you as you will still believe there is a big conspericy between all of us dealers and find yet another reason to tell me why i dont know what im talking about....i feel like im just beating my head against a wall....

ive got nothing to gain or lose pal...people will always buy and service cars and i will always have a job making a very nice income....no matter what the consumer knows....

i only try to give this info out to show all dealers arent bad guys

some of us actually care to keep customers for life.
some of us know 60% of our business is repeat customers ...so we take care of our customers....

anyhow im done with this ive contributed all i can to this thread
and been nothing but truthfull in ALL of my statements
you will either believe me or not believe me

it really doesnt matter which...your going to believe the worst about all dealers anyway

if you decide im being truthfull and need anything feel free to send me a pm and ill help in any way i can...

if you dont believe me then i wish you the best of luck with your car and hope you keep it and enjoy it as much as i have both of mine

tony

 

Tony, some people just think were out for ourselves, thats why we hear all the crap we do. They don't realize that when our customers come in, and are educated consumers, offer us a realistic price, have great credit, there in and out in 1/2 hour!

Let this guy do what he has to do, but the bottom line has already been determined...sign the higher rate, get your own financing, or give the car back.

Anyway i gotta go, my boat dealer is on the other line, he's trying to figure out if I want the 38' or 42 fountain....you know us car dealers are just plain pain in the ***'s