Robert
Irvine,#2Consumer Comment
Thu, September 16, 2010
First of all they didn't "make" you do anything. That was your choice to sign the contract. However, with that said you did end up doing the right thing by not purchasing a car from a dealer who tried to use these tacticts to their advantage.
What they did was called "spot delivery". This is where they tell you that you are approved and everything is "good". You then take the car and they contact you saying that you need to come in and sign more paperwork.
Once you arrive they tell you that you are not approved, but they can get you approved. Of course this time the terms are not as good, such as you need more down payment, it is a higher interest rate, or you need a co-signer. They do this because once you have the car they hope that you will want it so much that they can talk you into these less favorable terms.
This is why it is good to always have your financing in place before you go to the dealer. Now, honest dealers(yes they do exist) use "spot delivery" all of the time, especially if you purchase a car on a weekend or evening. With these dealers they are actually able to get you the deal and everything is good. But there are enough bad dealers it is always best to not take that chance on "spot delivery".
debtexpert
United States of America#3General Comment
Thu, September 16, 2010
Your post makes no sense. They "made" you sign a contract and then what?