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Established Contributor

Re: New SANTANDER Loan...

@mau471 wrote:

@RedHawaii wrote:

Am I the only one that thinks this is weird? Seems to me that they had probably already gotten you approved through Ford but would make more money if they went through Santander. Especially if you normally have a zero interest. 

I feel the same, seems shady on the dealers part but maybe I am just paranoid. The negative issues with Ford given the overall history don't seem like they should have been denied. Would be curious if OP ever got an denial from FMC on the original app.


When I bought my current car I told the dealer I wanted to use Penfed but they required financing through them to waive the "market adjustment" and said they could put it through Penfed. Then they claimed I was denied and put me through Wells Fargo instead. When I called to find out why I was denied given my profile the rep said they approved my loan and offered to do a refinance app instead without a new pull. I ended up doing that before I even got my loan documents in the mail from Wells Fargo, I got an angry call from the salesman asking why I refinanced the loan so quickly, informed them they lied and said my app with Penfed was denied when it wasn't and he backed off. The annoying thing to the whole situation was I ended up with the Wells loan on my CR even though I never made a single payment, but small price to pay to teach the dealer an admittedly minute lesson.

well done!......never believe what they say and always verify


kinda funny how every "mistake" always seems to be in their favor, firm believer in doing all the research myself to limit needing them for as little as and text well before setting foot inside to eliminate any mishaps while there.......walk in,  sign and out the door in under an hour

Message 21 of 22

Re: New SANTANDER Loan...

@KeithW wrote:

Would you believe that we got a call today, after having our car for a month, saying that they paid off Santander, and instead of fixing the interest rate with them, they got us approved through Ford Credit at 7%. I am very happy now.

Sorry.  Late to the party.

If you were originially reject by Ford, then Ford would have sent you a letter in the mail stating why they rejected your credit app.

The dealer is at fault here trying to skim a few extra bucks by shopping around your credit.

Message 22 of 22
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