Ok, I haven't posted this yet because I'm just now getting over the rage I felt for Hyundai...
I go to the dealership, knowing our credit isn't wonderful. In fact, the same problem exists--my hubby has no scores and my credit isn't so hot. I start off doing the app before I even begin looking so I don't waste my time. Amazingly enough, the finance manager says he's got us approved through Chase Bank. And only $7 more a month than I wanted, so yippee!! We drive and like a 2006 Elantra and decide to buy it. We sign all the loan docs, and I made triple sure to clarify with the finance mgr that this loan was approved and that he wouldn't be calling me in a couple days to bring the car back like so many horror stories we've heard lately. He assures us this won't be the case, our loan is solid.
Fast forward to 2 WEEKS AND 6 DAYS LATER. I had started wondering why my deposit check hadn't cleared the bank, when a phone call comes in from the dealership. A new finance manager says they lost the copies of our driver's licenses and they need us to come in today. So, late in the evening we drive the whole family down to the dealership.
After a very long wait in which another customer was seen and heard screaming at this same guy, he finally has time for us. Mind you, the dealership is closing. They have turned the TVs off on my children, and all the showroom lights as well. My smarmy salesman was lurking nearby. The new finance manager tells us that they have just today secured our financing, and could we just please sign the new docs? I took one look at the papers and began laughing in his face.
My deal I had worked 3 hours to secure was now gone. The interest rate was 4 points higher, and the payment over $60 a month more than agreed originally! They had actually taken the price of the car down $3500 less than what I had bought it for, but added a full warranty for that $3500 to make it more appealing to the lender. Guess they didn't care that we found it completely distasteful. They also had added that "gap" coverage at almost a grand which I immediately said "We don't need or want that--take it off!!" I was told there was nothing that could be done--this is the only approval we could get so we could take it or leave it.
Well, after my hubby gave him a nice view of his inner thoughts, we drove off in their car. I told the finance manager that since we'd already sold our other car, he could either report this one stolen or shut up and let me drive it a couple of days until I found another. And that I wanted my check back. So I drove their stupid car, which did begin making a lot of noise and having stalling issues, for 4 more days until I purchased another car outright for cash. I then followed my hubby to the dealership in our new 13 year old car, feeling quite liberated and happy with our decision. And I got our check.
Now I'm back in a vehicle free and clear of any payments and am breathing a deep sigh of relief. I am furious that Hyundai played with us like this, but know they covered their arses because I read all the paperwork. I worry that we'll never get approved for any loans like this.
Toyota motor credit was the financier on this supposedly. Odd thing is that we've only received denial letters from them. When I contacted them, they said they'd never approved us for a loan with them. The dirty finance manager says that the customer service reps at TMC wouldn't have known, as his manager had worked a "special deal" with a manager at TMC. Sounds like a bunch of bull to me.
Just thought I'd rant for a moment and let everyone know that their credit isn't nearly as bad as ours!!
I'm a tree hugging, peace loving, non-patchouli wearing new kind of hippie chick trying to find a comfortable balance in this consumer-driven world. I just wish I didn't have to care about credit.
