Well i just purchased my 09 silver Fit M/T on 3/16/09 and received a certified letter in the mail saying there might be a problem with the financing all of a sudden. I've heard of dealerships selling cars and then something goes wrong and they have to take it back. I sure hope this doesn't happen to me. My financing guy wont be in until tomorrow at 1pm so i have to just sit here in suspense till then. i dont wanna lose my car... this is KILLING ME!

 

man thats lame. =/ but Good luck to you sir!

 

I hope things work out for you thats crappy If you can pay for it and have the bank statements to prove it then I dont see what the problem is. Thats just my two cents.

 

Yeah well I have the bank statements to prove a steady income, the problem is...my main income is the GI BILL for going to school. From what a different financing guy said, The GI BILL may not a legitimate source of income which is bullshit IMO. Just because i'm in the Air Force Reserve and am being responsible in going to school, my income is not substantial??? Well i guess it's my fault there's not 36 hours in a day and I dont have time to work full time while going to school full time. I'll argue this one to the end...im not gonna give the car back.

 

Don't get screwed, I had the same thing happened to me. Read my posts here:

https://www.fitfreak.net/forums/2nd-...tml#post527234

https://www.fitfreak.net/forums/2nd-...0-days-21.html

 

This is why you secure financing before visiting the dealership. Best of luck to you.

 

You could just get a part time job. I work 25-30 hours a week and go to school full time. It's not that bad; it actually makes me plan my schedule more efficiently.

 

tell them it got stolen

 

i know your trying to help...but TRY to find a part time job in SoCal right now. I've had professional jobs in the past and cant even get hired at Target right now. In fact, most of the ppl working at the local target are working for $8/hr because they got laid off of their $80k/yr jobs. It's rough out here.

 

thought about it! lol I shouldn't have had them install the LoJack! lol

 

There is some information on this dealer tactic that they are trying to pull at this site.

CarBuyingTips.com new car buying guide, avoiding dealer scams, new cars, used car buying

Where on the site? I don't know. It has lots of good info but it is rather disorganized. Just look around until you find it. You can be certain that they do not want you to give the car back. They want to stick you with a higher interest rate because of some other BS. It's a bait and switch. Arm yourself with knowledge.

 

Here it is:

Scam #1: The Financing Fell Through Scam (Spot Delivery Scam)

How the scam works: This is the oldest trick in the scam book, increasing in 2005. Lots of people complain about to us about this scam. You buy a new car, the "LieNance" manager says you got a low APR, hands you the keys, and you drive home. (Not all finance managers are LieNance managers, just the ones who lie, so salespeople stop whining to me about this name I made up for the few bad apples). Two weeks and 500 miles later, the dealer calls you saying "Sorry, you didn't qualify for that low interest". This is where "subject to financing" clauses on contracts bite you in the butt. Everyone thinks that you sign papers it's a done deal. The dealer knew exactly what you qualified for before you signed, unless you lied about your income.
They knew your credit score. If it's above 680, you'll get a low APR. If it's below 680, expect a higher APR. Your credit union will print your credit history and approve you in 10 minutes. I got approved instantly online. So why the problems with the dealer's Retail Installment Sales Contract? There usually is no problem, it's a scam. There is a phrase on most sales contracts stating "subject to loan approval". This Jedi mind trick means: "The deal is not final, even though you signed this contract." They'll tell you that you must produce an additional $1000 AND your payments would go up. They pull this scam on people with bad credit, because it's believable. They get the least resistance from this crowd, and figure you'll just pay up somehow.

How to avoid the scam: DON'T FINANCE AT THE DEALER if you have bad credit. Line up your own financing and compare to dealer's financing. Read our chapter on How to finance your car or use online car financing or your credit union instead. By using your own financing, you won't endure monthly payment scams, and the deal will be based on the selling price of the car, not monthly payments. If they start negotiating the car by monthly payment, it's time to leave. If they keep trying to shift your APR up or down depending on whether you buy a warranty or VIN etching, it's time to leave. But if you do finance through a car dealer, leave a deposit on your credit card, and do not take delivery of the car until the loan has been approved in writing a few days later. Then you know the lender has approved your loan. The dealer hands you the keys and say it's all right to drive off right now with the car, but don't do it. For buyers who lease, dealers sometimes call you a week later and claim they "made a mistake and you need to come back and sign a new contract." WRONG. Your lease is a contract, and the dealer cannot make you undo a contract. Just think, if you tried to get out of a lease, they would come after you in court right?

What to do if this scam happens to you: If you you got a good price on the car, your best solution is to preserve your deal so get your own instant financing online. If you have a credit score over 650, go online right now to Up2Drive and apply online, and get approved within the hour. They will FedEx you a check the next day, you'll take it to the dealer to pay for your car, now you have a car loan, no "financing fell through!" If your score is below 650, then apply through AutoCreditFinders instead. If the dealer refuses your online check, you should try to get out of that deal. File a complaint with the Better Business Bureau at BBB.com, and file a complaint through your state's Attorney General Web site. They are all aware of Spot Delivery Scams.

 

The way I see it you have a couple of days to try and do a few things on your own. In hard financial times there is nothing wrong with asking for a little bit of help. The assistance of a Co-Signer is not a bad thing if you do have a steady Gov check coming to you. Also since it seems you are military then you may want to check internally to see if they have any options open to soliders purchasing vehicles. I would also check with the establishment you bank with to see if you have any options there.

Best this is to be prepared before dealing with the dealership. It certainly is not the easiest thing to do but keep your Chin up. Remember it is just a car, there is no need lose sleep or sell your soul to get it. It is hard when you come on one of these forums and you read about all of the cool things people are doing with their cars.

 

Honestly, I think bringing someone else into this problem as a co-signer just makes things worse. It sounds like the best options are to obtain financing from someplace else (per carbuyingtips.com) or give them the car back. Then go to another dealer with financing in hand and get another car.

As much as it is eating away at you to do whatever you can to keep the car, you shouldn't walk that path. If you have to go to extreams to keep it then the dealer is trying to screw you. Let them have it back if they don't honor their original deal. I bet they will change their tune.

 

i hope everything goes well with you!

 

Who is this dishonest dealer?

 

wow, sounds like some lame local subaru dealership....

 

^^^ Off topic?

As far as the dealership goes... It's Penske Honda in Ontario, California. At the Ontario Auto Center off the 10 and 15 fwy.

 

Sorry to hear about your problem. Hopefully they can get it settled - hard to believe they would let you have the car and not confirm that your finanical part was all settled. Surely, they should be willing to work with you on the matter - the car is considered used once it is driven off the lot. Please let us know what happens and I will say a prayer that it all works out for you so you can keep that sweet looking Fit.

Cat :x

 

Keep us updated on what happens.

Here's a link to the BBB page on Penske:
Penske Honda Ontario - New Car Dealers - Ontario, CA | BBB Business Report