Concord Nissan ripoff-my trade-in was sold they refused to compensate ANY amount to me when financing fell thru WEEKS after contract was signed Concord California
I traded in a 1 1/2 old Nissan for another used Nissan that was of a nicer model, signed all contracts, DMV paper work and gave them copies of my insurance papers.
A MONTH after making the purchase (transaction), I recieved a phone call from Concord Nissan saying that the financing didn't go through and that I would have to return the vehicle. I was very upset that they waited so long before informing me of the situation but told them that I would bring the car back in and take my trade-in vehicle back. At that point they said that they had already sold my trade-in!
I was furious and told them that they would then just have to pay me the amount of my trade-in vehicle, they refused because they said that I had had the vehicle too long! I reminded them that was their duing and not mine and until they agreed to compensate with either cash or a replacement vehicle I would not return the car. Two days later the car was towed and I was out about $7000!
I contacted the Better Business Bureau but got no where and at the time this happened, some 16 years ago, I was only 19 years old and didn't know what else to do. I had spent so much time crying and being completely stressed out over the situation and finally gave up. I will never forget the scam that Concord Nissan pulled on me and what they put me through. I'm sure that when they saw a young single girl come in, they knew that they were going to be able to pull one over on me.
Concord Nissan, in my opinion, is the lowest of the low(thats the only "nice" way to say it)and after reading someone elses report of a very similar occurance, I had to write my story, even if it was 16 years ago. It just shows that they are still the same king of scams on people after all of these years!
Valerie
Pittsburg, California
U.S.A.
5 Updates & Rebuttals
Mike
Radford,Virginia,
U.S.A.
Car dealers often do banks dirty, so the bank wants to confirm some things with the buyer.
#6Consumer Suggestion
Wed, December 24, 2003
DO call the bank. They want to talk to you.
Car dealers often do banks dirty, so the bank wants to confirm some things with the buyer. The dealer may have told the bank the vehicle is "loaded" with options and aftermarket equipment, when its actually a basic "stripped" version. If they have to do this to get the loan approved, this means you're paying too much. Also the dealer may have overstated your income on the application. This could mean you're getting into a deal that you can't really afford, leading to much heartbreak and bad credit later.
So you want to call the bank and confirm all the terms of the loan, making sure they are the same as what you thought you were getting. Make sure the application the bank received is the same one that you signed. And make sure the loan is really approved before taking off with "your" new car. It is better to lose a "deal" than to get ripped off. If the dealer won't let you talk to the bank, it means you're getting ripped off. Follow "Karz" advice and get the hell out of there.
Dealer-arranged financing is never your best deal unless it is some promotional deal offered with the manufacurer. (Even in that case, it is usually better to take the manufacturer's rebate instead). These days, the finance office is the dealer's major profit center, not the sales floor. Use a third-party bank or credit union and stay out of the finance office.
TIM
ROCKFORD,Illinois,
U.S.A.
There are ways to verify loan approval
#6Consumer Comment
Tue, December 23, 2003
Bank underwriters do not have time to discuss each deal with each customer just because the customer wants to have warm fuzzies before they take delivery. There are ways to verify loan approval, but calling the bank is not one I would recommend or allow at my dealership. Mr. Karz is all wet.
Dannielle
Torrance,California,
U.S.A.
Read your Contract Very Carefully...
#6Consumer Suggestion
Tue, December 23, 2003
A similar situation happened to a friend of mine, and we both learned a valuable lesson. In the State of California, they have a 10 day right to rescind the contract. If you truly had the car a month, the dealership was way out of line.
If you look at the back of the big yellow bill of sale, or the financing paperwork, you will find a spot that says in short, "Seller shall give you written notice (or in any manner in which actual notice is given to you) withing 10 days of the date this contract is signed if Seller elects to rescind...you must immediately return the vehicle...Seller must give back to you all consideration received by Seller, including trade-in vehicle.
In my friend's case (she happened to work for an attorney), her boss contacted the dealership and stated her rights, they let her keep the car and they ended up carrying the loan at the dealership.
Too bad your case happened 16 years ago, there's probably nothing you can do now, but at least we can inform others.
Steve
Tampa,Florida,
U.S.A.
things you can and must do
#6Consumer Suggestion
Tue, December 23, 2003
There are several things you can and must do.
1. Do you still have the paperwork the dealership gave you? If you do once the dealership gives you a copy of the finance contract the dealership is responsible for finding financing at the terms (even if it is stamped W.A C. with approve credit).
2. The dealership must reimbursed you the total amount they offered on the original purchase order. California has very strict laws concerning your complaint if it occurred in the chronology order you stated.
3. Contact the California Department of Motor vehicles ask for the automotive dealership enforcement division, make a appointment take your paperwork to them. They will settle your claim should they find it to be valid.
PS: if you don't have your paperwork still file a complaint they can and will get a copy of the paperwork.
Hope this helps let me know how it works out for you.
Isellkarz
Dayton,Ohio,
U.S.A.
I smell a spot ..Do yourself a big favor and make sure you have a true approval
#6Consumer Suggestion
Thu, December 18, 2003
Hi
I am really sorry nissan did you that way..
Often a dealer will "Spot" deliver a car to you...they will and can say that you are all set and you are approved but in fact they really did not get that far...
Next time you buy a car, Do yourself a big favor and make sure you have a true approval...Ask the F&I Manager if YOU can call the bank that they are working with to verify the status...If they decline and dont want you to talk tp the bank then get out of that dealership pronto.
I work in a high end dealership and if i sold you a car, You would not take possesion of said vehicle until the bank said "approved" Which in our case is 30 MINUTES. I understand that other dealers have situations where credit issues warrant more time for an approval...but to spot deliver a car they may never get financed is just plain STUPID.
Good Luck