Hey Guys,

I will try to be brief as possible.

Originally back in August -- I placed an order for a 2008 GT Red Z. However after putting $1K deposit down and waited a month and a half to found out that my Z was never order! I was pissed and so at the time they have the Nismo Z on the showroom and say if I want -- they can get me the Nismo and have the car the same day.

I just got myself a Nismo Z less than 3 weeks ago. However now the dealership is telling me that my loan for it was decline; due to the selling price is over what annual salary. So they say that to "protect the customer" -- headquarter rejected the contract. So now the finance guy want to convert my contract into a LEASE! What scary is that it must be a 60 months lease with the Residual value at $12,700. So I ask what will happen if I say no to the new propose lease contract? Then my finance guy say then we will not have a deal -- no deal. I will have to give back the Nismo Z.

So basically what they are telling me is that I didn't got approve for financing but they still allowed me to take the car!

The guy who sold me the Z recently had just work there (for about 2 weeks) -- convenience that he now no longer work there. They told me that he quit b/c he found a better job. Maybe he was fire b/c he screwed up my paperwork.

Now thinking back about it -- the car note is pretty high b/c I had a trade in and was upside down about $6K-$7K. I put down $3K.

Finally they want to counter offer me another deal by putting me into a Grand Touring Z. I like the Nismo Z and all but I think I will be more happy for the GT since its more luxury and will only consider it if they won't roll that negative into the new deal.

So what should I do? They want to seal the deal ASAP because they say that I am not allow to be driving without a valid contract. I've already put over 1000 miles on it and give it first oil change at 500 miles.

They say if I want to keep the Nismo Z then either accept the Lease Offer or get a Co-Signer. I don't want and will not agree to those condition.

I think this is a chance for me to lower my payment since they screwed up. However they don't have the color I want and ordering an 08 will take a few months and my supposedly approved application have a expiration time limit.

I'm just frustrated and don't know what to do. So it seem like I am going back to square one.

Thanks for listening

 

Just make sure that they arent taking in that Nismo Z as a trade in. THey might try and take it and give you depreciated value and then add that to your new deal on that GT. I say go for the GT. If they try and screw you with that, just give that Nismo Z back and go elsewhere, or simply return to them a few days later as a brand spankin' new customer. goodluck

 

I would contact a lawyer friend. IMHO they are trying to screw you for their screw up. Once a contract is done, and signed they can not go back on it. It is illegal for them to do so. There are articles out there about dealers pulling things like this and getting away with it if your not careful.

Just a FYI, My Acura TL was 10k upside down. YES 10k. I was able to put a few grand down, but it was still more than you were upside down and Nissan approved it without a problem.


Nissan will approve a loan that is up to 125% of the value of the car. So if 38k is the price of the car, that is around 8-10k I believe is 25% over the price of the car.

The dealer is giving you crap. Remember, they took your old car, and you are left without a car because they screwed up. They have to eat it.

 

oooooooo.....the lawyers will have a field day with this.....

 

for some reason all the finance guys @ the dealer always try to jerk you off with interest rate, try to get you to buy more stuff from them like lojack n stupid warranty

 

Thanks for all you guys advices but it is possible for me to simple ask for my deposit down back and walk away clean and buy another Z elsewhere?

The finance guy is giving my crap about if I don't go thru with the deal then I will never be able to buy another Nissan anywhere else.

Like can Nissan stick the negative amount to me and keep my down payment? I'm just afraid they might screw with my credit my report.

 

The contract you signed(purchase order. long yellow paper) works two ways. Basically, you agree to the terms of that contract with the dealer, but the dealer also agrees to contract with you. You say they called back and couldn't finance you. Then they have broken the contract and you are entitled to ALL your money back and you just give them the car. at this point since you put 1k miles on the car, that is their loss and their problem. DO NOT let the dealership jerk your chain. They failed to uphold the contract on their end so make sure you get ALL your money back. You should legally get your trade in back and re-assume the loan you had on that vehicle.

This happened to me when i bought my Z. They called me and said unfortunately they couldn't finance me at the quoted 7.25%. One bank was willing to finance at 8.75. I told them no i do not accept that and i will be returning the car and getting my old car back. What they ended up doing is lowering the price of the car to equal the same payment at the higher rate. I refinanced through my credit union and got 5.99 so basically i used the situation to my advantage to get the car even cheaper.

 

Forgot to mention that they sold my Acura TL that I traded in. The TL was sold the very next day! So for sure they can't stick the TL back on me.

 

yeah just tell them fine, get your money back and have them give you your trade in back, its their fault. how did they let you take the car and yet suddenly your unapproved? sounds shady to me.. talk to a laywer if ya want, they will help with the contract problem. GL

 

Maybe try to get financing through your regular bank or some other entity?

Im not sure about the law, but I would think that since they let you have the car whether it was a stupid mistake by an employee that doesnt work there anymore, he still worked for them and it is the dealers problem. You should not be out of pocket for anything since you bought this car in good faith with money down and with intent to pay for it under the terms you were presented with at the time. If it falls through on their end then they are the ones that broke the 'contract' and will have to deal with lost value on the car, not you.

That being said there is no current contract and you should return the car ASAP. And they should return your money ASAP. That way you are left whole and they have to deal with their mistake in the form of Depreciation.

Id get that money in hand though and start re-dealing from scratch, and possibly go to another dealer...dont let them 'roll ' it into anything.....

 

nice !!!
when buying a new car always do your homework how much u can get finance i got quoted for 6.5 guess what the dealer quoted me ???? 8.25 !!! i told him i can get it for 6.0 than he gave me all these bull crap that i should get lojack n this warranty crap. i told him i take the lojack for 6.3 or else i'm walkin outter here you really need to play hard ***** wit these guys

 

Call a local commercial lawyer first thing in the morning. Buy one hour's time to get that person to call the dealership on your behalf or advise you on your rights. Good luck, this is sad.

 

Depends what you singed, there is a small piece of paper usually white. That says if they for some reason can't get you financed you will have to find other means to pay for the car or they take it back.

I just got my car and my credit was weak due to me losing my company 610 and I put down 6500 bucks down and got a lame 10.5% interest loan. I intend on refinancing a year down the road. In either case, you will get your deposit or down payment back and they will have there car. That is the worst case scenario.

My family as in my Uncle owns 8 dealer ship locations in Chicago if you need a car let me know. He will give you a square deal, I tell him you a member of this forum he is a car guy. So no need to worry he got his mansion and Ferrari lol.

 

The car is still theirs. They have the right to rescind the contract IF you signed that part of your purchase contract. You should have received a copy of this. Sounds like you got a dealer that did indirect lending ( without prior approval) When the paperwork went to the financial company they refused it. If you signed that part of the contract -Depends upon Texas consumer laws, they probable still own the car. You may also have agreed to depreciated value -per se' mileage so look carefully at your contract. They must give you back the value of your trade as you signed away the title when you bought the car. You are entitled to that value not the car if it has been sold. 60 month lease is ridiculous. Don't sign that long of a lease. Your credit sounds find but your income level appears to be too low for the payment. Probably the reason for denial. More money down to lower payment would probably be expected to keep this deal or hand it back to them.

Just a little info from an auto /Rv dealer that just bought a nismo.

 

Update:

I just got back from the dealership and they say that since I won't agree to the new propose Lease deal then they will take the car back and give back my TL. They made me wait for 10-15 mins and came back that my car is in the bodyshop and will have to wait until tomorrow before they can do anything. I busted them by saying that this is not possible b/c I know for a fact that the car was sold and I saw it on the street with the new owner. The two finance guys act shock (playing good cop / bad cop) and say they didn't know it was sold and that was what their Used Cars Department told them. So then they went into the system and confirm to me that it was in fact sold.

So now they will have to see if its even possible to get back my car that they sold. On the other hand -- one of the finance guy was the manager saying to give him until tomorrow noon to resolve this by forcing the original contract to be valid. However I told him that I no longer wish for that since it was decline. They say that they can make this happen and act like this whole calling me in incident never happen and sorry for wasting two days of my time.

At first they ask how much did I down and I confirmed $3K -- then he want to stick the 1000 miles on me. I was like why should I be penalize for the late notice b/c I drove it as if I am the owner. So I got the Manager to give it to me in writing that I will not be responsible for the mileage and that he will take care of this situation by tomorrow.

He say he will do something special for me -- like trying to lower down my current payment or getting me out of the original deal. I ask am I not already not in the original deal? Because that is why you guys offer me my TL back? He then say that my original deal is approved and that they (the bank) was being nice by wanting to offer my an alternative choice for a more "comfortable payment".

So I will try to all the Nissan Corp. first thing tomorrow and inquiry on the status of my contract. If they say that it has been rejected -- then I would ask for them to fax it to me so that I have some type of proof for my record.

Does anyone have that number handy?

I feel a lawyer will be necessary because seem like I am being taking for a ride. Also is there such thing as I can return the car within 30 days if I don't like it? That was what my saleguy told me when he sold the car to me.

Correction: I bought the car on 9/28/2007 so I am a day or two short of hitting a month. I thought I had it for about 3 weeks....but guess time flies when I was having fun huh?

Thank you guys for baring this mess up situation with me.

 

What town you live in? I am curious what dealer this is. Hmm.

 

pm

 

I think you have 72 hours max to return a car. That is some bs that they are pulling with you. If it doesn't get resolved soon get yourself a good lawyer for your traumatic expereince

 

I'm sorry to hear that the stealership is giving you the run around. I had something similar happen to me when I bought my 03 Touring Z.

Too bad for the nitwit sales person and finance guy at the dealer that sold me the car, I knew the GM and he got that chit fixed quick!

 

I hope this piece of crap dealership gives you what you deserve - the original contracts and everything that you are entitled to on it. You should not be responsible in any way for their screw-ups. Lawyers will have a lot of fun with this one.