I sure wish I'd found this place before I bought my car!
On May 22, 2006, our local dealership was running a 4 day 'spectacular'...$2000 guarenteed on any trade in, no one gets turned down, that sort of thing. My credit isn't so hot, due to a series of mini-disasters occurring over the last 6 years, but I really needed a good, reliable vehicle that got great gas mileage. I've got two kids, and the old truck I'd ended up with wasn't right for my needs, or my pocket, where gas was concerned.
I took it up to the dealership. I spotted a car I liked, but it was brand new, and I figured 'no way'. The salesguy came out, and was bound and determined I was going home with this car. We spent 5 hours at the dealership, hammering out a payment I could afford, and getting the financing arranged. I knew they'd add stuff on during the process until they hit the first payment they'd offered, so I kept refusing until I got it down low enough that I figured whatever they added back on would make it no higher than the first offer. Well, that worked. =)
So, I'm told, due to my credit, they only found one company willing to finance me...Americredit. They set an 18% interest rate, which was okay, because I planned to pay on it for about a year, clear up a few things on my credit report during that time, then get my bank to refinance it for me. This is also what the finance guy suggested (I know I saw someone else mention that).
So, I leave the lot, contract in hand, financing arranged, with a brand new car.
Two weeks later, I get a call asking for my last two years tax returns. No problem, I dig them out and get them up there. I'd already provided them with 3 months' worth of statements from my personal and business checking accounts, at the time everything was arranged.
I'm not sent a payment booklet, I'm not sent my license plates and tag. I have a dealer's tag that went out on June 9th, so I went up there to get another one. That is no problem.
Today, after almost a month of having this car, I get a call telling me that 'the funding didn't go through' and that I need to bring my car up and turn it in. It appears that Americredit is having trouble 'verifying' my income, despite all the statements supplied to them. It almost sounded like they were accusing me of doing something illegal to earn a living, lol.
I told them we had a contract, and I was financed when I left the lot with the car, and that Americredit had called and verified everything two days afterwards.
I got transferred to a finance guy there who told me about the 'verification' problem. I asked him what the problem was...it's right there in black and white where the deposits to my accounts come from. He says he's going to call and talk to Americredit.
I decide I'm going to call them, myself, but their number isn't listed on the contract, but the Credit Commissions is, so I decide I'll call them first. The lady I explain the situation to tells me to NOT go up to the lot in my car, and to call the sales manager and find out if I signed something called a 'conditional delivery agreement'. She says if I did, to call her back, and she'll send me the paperwork to fill out a complaint.
So, I call Americredit next, after finding their website. They don't have me in their system because they've already sent back the papers, and no one from the dealership has called them, but oh, yes, if I can verify my income, it looks good for them to finance me.
I'm at an impasse right now. The dealership is apparently resending them copies of the statements that were requested, and there is the possibility that they will change their minds, but I'll have to 're-contract' on the car, which should be great for me, because 'you'll have another month before the first payment is due'. I've got the first payment right now! I just don't have any where to send it to.
I found this site, and now I DON'T want Americredit financing my vehicle, but I'm stuck. If this car has to be returned, I'm out my truck and have no vehicle. If they do finance it, everything's straightened out, I'll be paying over $400 a month to a company with a history of 'losing' payments and repossessing cars without just cause...so, I could pay for a year, and end up losing the car and all that money, too.
So, Americredit has pretty much screwed me over, agreeing to finance, then changing their mind almost a month later.
Any advice is appreciated at this stage of the game. I'm about ready to tell them to forget it, as long as they cut me a check for the full amount of my trade in ($2000, as was guarenteed). I might not be able to go buy something brand new after they've pulled this crap, but at least I'll have something to drive. =)
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