RODEO FORD OF PLANO DID NOT TELL ME THE TRUTH ABOUT MY FINANCING FOR A CAR Plano Texas

Just a side note... I think its pretty funny how the original individual whom filed the report changed her file 9 months later. I guess seeing all the people who responded to tell her how she was unreasonable and how her complaint and request for a free months car payment was just wrong promoted her to change her posting.

Interesting.

My advice would be to next time take a couple of steps back, calm down and think before running out and posting. You would have realized that you were completely in the wrong for demanding something for free and how you cannot blame the dealership or the lender for your poor credit decisions.

Based on what you have stated yourself here on this report, this is the BEST thing that could have happened to you! If you truely could not afford to pay the car payment then the last thing you WANT as opposed to "needing" is a NEW Dodge Avenger. You have got to start living within your means, pay off the car you have already like the rest of us out here who somehow manage to do. I have had 45 surgeries and I work . I work out of my car and yes I would love to have a new car every other year, but guess what? I drove my last car right past 500,000 miles. My husband drove his car 450,000 before it finally died completly and it was a
Ford Escort. Would we have loved to get a new car? Shoot yea, but we did not because we PAY CASH for our cars. This is not a ripoff! If anything you should be glad they did not come after you for the miles you put on their car and the money they lost in value for the car while you had it! Be grateful that you were turned down, keep your car, pay it off and then save some money up. Then and only then do you need to be buying a USED car! Cars are not an investment and can lose up to 70% of their value the first four years. That said perhaps you will wait, pay this off and be ready to buy another car.......that does not mean "financing".

From a legal standpoint, you have no recourse and the company is not obligated by any means to pay your January note. In essence, what happened was the dealership tried to submitt your paperwork to the lender for approval. I find it very unlikely as you stated that the dealership had knowledge that the approval would only cover $15,000 and sold you a car worth $20,000. I know that you say that the lending company informed you that they informed the dealer that there would only be an approval for $15,000 but just because they told you that, doesnt mean its true. Think about it, why would the dealership intentionally do that? What do they have to gain? On the contrary, they have everything to lose. First off the risk of not recovering the car and secondly, they have lost money.... you drove that car for almost 2 months. Every second and mile you add to that vehicle has dropped its value. So they absolutely lost money in your transaction not to include the manpower and time invested in the transaction.

You stated that you were called on the 10 to resign the documents but did not show up until the 21st. You also stated you had negitive equity of $5000 dollars. You also stated that you had poor credit. Im not placing blame or justifying the situation, but your actions and circumstances are indicative of the situation. You cannot expect with your situation for everything to run perfectly... because based on credit score and your prior actions, you are not a "ideal customer". Im not trying to sound harsh, but you have to look at things from a lending standpoint, because thats how they are looking at you. Its the reality and with that knowledge, you can make a distinction between what is a "too good to be true" deal for you and what isnt.

Im sorry that you have to pay 2 months of car payments... but seriously, why is that wrong? Did you not drive the new car that prior month and make no payment? Did the dealership ask you to compensate them financially for their loss on the vehicle which your driving devalued? Why should you get a free months car payment? Where you out a car during that month?

I know the situation is frustrating, obviously because you posted on this site... and I was in that situation myself a few years back. Thats why I tell you this, and I tell you it with true intentions of trying to help... you need to take a look at your finances and your credit and take ownership of that. If you are negitive in your vehicle, thats no ones fault, its the nature of the car beast, if you have poor credit, well thats your fault, true circumstances could have played a role in that, but everyone has circumstances, some just plan for them. Finally, you didnt lose anything, perhaps frustration and time, but financially, they lost far more then you did, you shouldnt expect a free months car payment because your loan was not funded because of your financial or credit situation.

People dont plan on failing, they fail to plan. If 2 months car payment is a struggle, then you need to look at your finances. If the car that you planned on trading in was running and not costing you a financial burdeon, then why trade it in? Because you wanted newer and better? If your financial situation doesnt allow that, then you should not try. You never mentioned your initial down payment... you said you put $2000 down.... did they return your down payment? Im assuming they did.... so where is your loss?

Having worked within the Auto Finance Industry for over 20 years, I can say that if you were advised up front that you were only approved for 15,000 and that the car that you were purchasing was 20,000 then that means that you were upside down on your trade in which you disclosed earlier and infact were responsible for the difference which was 5,000.00 to the dealer because your financing was only approved contingent on the fact that you present yourself capabale of paying off the original loan with UACC.

The dealership should have sold you a vehicle at that point that cost 10,000.00 so that you could carry the negative equity onto the 15,000.00 that you were approved for if you didnt have the money to pay the difference.

So, you had a couple of choices....either choose a vehicle that costs less than 10,000.00 so that you could use your trade in and carry the negetive equity on to the new loan or take the car that you want which costs 5,000.00 more than what the bank approved you for and pay the difference of 5,000.00 to keep it so it washed out the negetive equity on the trade in.

You can't have your cake and eat it too.