I was holding off on posting this here, but the dealership's finance manager and sales person have not returned my calls and emails for 7 days now (I don't want to drive out to the dealership as it's a 1 1/2 hour drive).
I'm a first time buyer and a CU was offereing me 14.99% for a 60 month loan which would make my payments right at the "sweet spot" that I was looking for.
Upon arriving at the dealership they inform me that they can beat the CU rate and offered me 9.49% - I accepted the offer.
After receiving 11 - 15 (depending on the CB) notifications that my credit was being run by the dealership I was contacted twice:
1. A different finance manager called me and said "Congratulations, Golden 1 CU has accepted your loan, they should be calling you any day now to go over some information and you'll receive the bill soon for your first payment" (It's been 10 days since this call and Golden 1 CU has not called me)
2. Here's the odd notification; I received an "Adverse Action" letter from a DIFFERENT CU last week stating that they can't do a 60 month loan but instead do a 48 month loan at 8.5% - I'm OKAY with the rate, but not with the 48 month loan.
I've called and emailed the dealership several times in regards to the above - I understand it's the holidays but I haven't heard anything as of today.
Any advice on point #2 would be greatly appreciated. Isn't an "Adverse Action" a bad thing?
Sorry for the long post and Happy Holidays!
