bought evo, lost evo, f mitsu
Aug 11, 2005, 10:24 AM
#106
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Wow,,
I have many many different feelings on this on here!
First, if the paperwork was done and you drove off the lot ,,,, well its your car, and shaddy dealership tactics make me sick.... F them.
Second, I dont think you said what kind of credit score you have, or what kind of bad credit you have. So if they knock off $2k and you want the car , its close to the 0%,AND will help out your bad credit situation, by giving you good credit, IF YOU make all your payments on time........ So this would be a good thing for you to do,,, FOR YOU!
Third, You said this manager is VERY aggressive with you to get the car back to him,,, well this is for a reason he knows he did the wrong thing letting you leave with the car....
This is in your FAVOR!!!!! but you said your not interested in dealing with him ,,, fine
BUT....... if this were me I would.
1. Not answer his calls, if I did talk with him say my attonery will be speaking with you after I talk this over with him IN PERSON,,,,, and ya he lives 400 miles from me,,,, I think I can make it there in 2 hours,, this evo feels very FAST,,, then hang up!!!!!!!
2. ok define beating on the car and very spirited driving..... come on everyone drives the evo hard,,,,,, kinda fine line between beating on it and driving it HARD,,,,, I would for sure do this. And dont give me,what if granny buys the car then arnt u going to feel like a bad person cause granny isnt going to go over 40mph in her new evo,,, give me a break suckers!
3. I would make them come to me, if I didnt want the car and didnt want to deal with this shiety dealership,,, I mean come on letting you drive off in a new car making you think your the owner, and in fine print saying they have what 7 days to finalize the deal..... Thats shaddy to say the least,,,,,,,, its their problem,,,,, make them work to get it back!!
4. post the VIN on the evo forums,,,,,, tell them this car is USED,,,, I USED it and dont buy from this certian dealership,,,,contact the news stations and let them know of this little practice that is going on in dealerships ,,, see if they want to do a little story,,, they are always looking for new news ideas,,, this one looks juicey to me to say the least!
But all in all ,, it dosnt seem like your taking it all that badly???????
Im was just puttting myself in your situation........And actually it would be very hard for me to work in any way with a dealership that F'ed me over like this and wrecked my hopes and dreams..... even if it was the car i wanted , and helped out my credit in the long run. I probalby wont work with them in any case......... Just feel good to put them through the rings getting this car back!
God Im glad this wasnt me,,,, I think I would blow up.
Best of luck to you buddy what ever you decide to do here.!
I have many many different feelings on this on here!
First, if the paperwork was done and you drove off the lot ,,,, well its your car, and shaddy dealership tactics make me sick.... F them.
Second, I dont think you said what kind of credit score you have, or what kind of bad credit you have. So if they knock off $2k and you want the car , its close to the 0%,AND will help out your bad credit situation, by giving you good credit, IF YOU make all your payments on time........ So this would be a good thing for you to do,,, FOR YOU!
Third, You said this manager is VERY aggressive with you to get the car back to him,,, well this is for a reason he knows he did the wrong thing letting you leave with the car....
This is in your FAVOR!!!!! but you said your not interested in dealing with him ,,, fine
BUT....... if this were me I would.
1. Not answer his calls, if I did talk with him say my attonery will be speaking with you after I talk this over with him IN PERSON,,,,, and ya he lives 400 miles from me,,,, I think I can make it there in 2 hours,, this evo feels very FAST,,, then hang up!!!!!!!
2. ok define beating on the car and very spirited driving..... come on everyone drives the evo hard,,,,,, kinda fine line between beating on it and driving it HARD,,,,, I would for sure do this. And dont give me,what if granny buys the car then arnt u going to feel like a bad person cause granny isnt going to go over 40mph in her new evo,,, give me a break suckers!
3. I would make them come to me, if I didnt want the car and didnt want to deal with this shiety dealership,,, I mean come on letting you drive off in a new car making you think your the owner, and in fine print saying they have what 7 days to finalize the deal..... Thats shaddy to say the least,,,,,,,, its their problem,,,,, make them work to get it back!!
4. post the VIN on the evo forums,,,,,, tell them this car is USED,,,, I USED it and dont buy from this certian dealership,,,,contact the news stations and let them know of this little practice that is going on in dealerships ,,, see if they want to do a little story,,, they are always looking for new news ideas,,, this one looks juicey to me to say the least!
But all in all ,, it dosnt seem like your taking it all that badly???????
Im was just puttting myself in your situation........And actually it would be very hard for me to work in any way with a dealership that F'ed me over like this and wrecked my hopes and dreams..... even if it was the car i wanted , and helped out my credit in the long run. I probalby wont work with them in any case......... Just feel good to put them through the rings getting this car back!
God Im glad this wasnt me,,,, I think I would blow up.
Best of luck to you buddy what ever you decide to do here.!
Aug 11, 2005, 10:33 AM
#107
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Read the contract. You signed it, you agreed to it.
I'll bet there is a clause stating they have everyright to do this. Make sure you know what you're getting into.
Knowledge is power..
oh, and please don't beat the car. It did nothing to you
I'll bet there is a clause stating they have everyright to do this. Make sure you know what you're getting into.
Knowledge is power..
oh, and please don't beat the car. It did nothing to you
Aug 11, 2005, 10:35 AM
#108
Some quick numbers:
Lets say the purchase price is 32,000
32k - 8K down payment is $24,000
24,000 @ 0% over 60 months is $400/mo
32k-8k down payment - 2k dealer concessions is 22,000
22,000 @ 5% over 60 months is $415/month
$15 a month difference over 60 months is only $900.
Your credit sucks. Big deal, it will only cost you an extra $15/mo. Stop b1tching, and enjoy your new car.
Lets say the purchase price is 32,000
32k - 8K down payment is $24,000
24,000 @ 0% over 60 months is $400/mo
32k-8k down payment - 2k dealer concessions is 22,000
22,000 @ 5% over 60 months is $415/month
$15 a month difference over 60 months is only $900.
Your credit sucks. Big deal, it will only cost you an extra $15/mo. Stop b1tching, and enjoy your new car.
Last edited by slt; Aug 11, 2005 at 10:45 AM.
Aug 11, 2005, 10:42 AM
#109
How about this, say you want to sell the car in 2 years,
With the original 0% plan, you would still owe $14,400
With you new 5% plan with $2,000 off, you would only owe $13,852
Thats a savings of $548 with the "sh1tty deal" OH NOES! Even with the extra $15/mo, you would still be ahead $188.
With the original 0% plan, you would still owe $14,400
With you new 5% plan with $2,000 off, you would only owe $13,852
Thats a savings of $548 with the "sh1tty deal" OH NOES! Even with the extra $15/mo, you would still be ahead $188.
Aug 11, 2005, 11:09 AM
#112
Originally Posted by slt
Some quick numbers:
Lets say the purchase price is 32,000
32k - 8K down payment is $24,000
24,000 @ 0% over 60 months is $400/mo
32k-8k down payment - 2k dealer concessions is 22,000
22,000 @ 5% over 60 months is $415/month
$15 a month difference over 60 months is only $900.
Your credit sucks. Big deal, it will only cost you an extra $15/mo. Stop b1tching, and enjoy your new car.
Lets say the purchase price is 32,000
32k - 8K down payment is $24,000
24,000 @ 0% over 60 months is $400/mo
32k-8k down payment - 2k dealer concessions is 22,000
22,000 @ 5% over 60 months is $415/month
$15 a month difference over 60 months is only $900.
Your credit sucks. Big deal, it will only cost you an extra $15/mo. Stop b1tching, and enjoy your new car.
and that is a good point on the 2 year selling thing, i didn't look at the 24 month on the amortization....kudos to you
Aug 11, 2005, 11:23 AM
#114
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Originally Posted by TheGVR4kid
Math is for pussies. Wait for the finance manager to go out for a smoke break and club him like a baby seal.
that's harsh. Dude, figure out a way to keep the car -- don't let them win this one!
Aug 11, 2005, 11:27 AM
#115
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be smart and keep it man, you'll regret it if you don't, cuz if mitsu aint financing u now, they wont finance you later (maybe after a year or 2). I used to work for vw. we've had **** like this happen before and customers would get all pissed cuz we wouldn't even lower price of car, but they would come back and resign, it's what they wanted!!! Is the evo really what you want? or u using this as an excuse to not get the car??? (buyers remorse....which is not common in evo's... 
) thx
) thx
Aug 11, 2005, 11:49 AM
#116
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Every dealership that I've ever went to has clauses to protect them in case financing does not go through. Don't think that it is just Mitsubishi.
You're in a good negotiating position, use it. They don't want the car back as much as you don't want to give it back. I'm sure that they'll work with you if you're cool about it. Why don't you make them offer and see if they take it. Try to meet them halfway. I'm sure that you can probably get a lot closer to your price then you think.
Also, keep in mind that your credit score is now lower than it was before you went through this process. Everytime someone looks at your credit your score goes down slightly. If you were denied a loan it is noted on your credit score and will have an ever greater effect on your score. You're chances of doing better than 5% with another dealership, Mitsubishi or otherwise, are about zero.
Before anyone purchases a car they should download a copy of their credit score allowing them to be realistic about their APR rates. You should also be aware of the score that is required to qualify for a deal such as 0% financing before you even let them pull your credit report.
Negotiate a deal that is acceptable to both you and the dealership and be cool about it. You're in the drivers seat on this one.
Good luck.
You're in a good negotiating position, use it. They don't want the car back as much as you don't want to give it back. I'm sure that they'll work with you if you're cool about it. Why don't you make them offer and see if they take it. Try to meet them halfway. I'm sure that you can probably get a lot closer to your price then you think.
Also, keep in mind that your credit score is now lower than it was before you went through this process. Everytime someone looks at your credit your score goes down slightly. If you were denied a loan it is noted on your credit score and will have an ever greater effect on your score. You're chances of doing better than 5% with another dealership, Mitsubishi or otherwise, are about zero.
Before anyone purchases a car they should download a copy of their credit score allowing them to be realistic about their APR rates. You should also be aware of the score that is required to qualify for a deal such as 0% financing before you even let them pull your credit report.
Negotiate a deal that is acceptable to both you and the dealership and be cool about it. You're in the drivers seat on this one.
Good luck.
Aug 11, 2005, 11:56 AM
#117
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[QUOTE=3240]Every dealership that I've ever went to has clauses to protect them in case financing does not go through. Don't think that it is just Mitsubishi.
You're in a good negotiating position, use it. They don't want the car back as much as you don't want to give it back. I'm sure that they'll work with you if you're cool about it. Why don't you make them offer and see if they take it. Try to meet them halfway. I'm sure that you can probably get a lot closer to your price then you think.
Also, keep in mind that your credit score is now lower than it was before you went through this process. Everytime someone looks at your credit your score goes down slightly. If you were denied a loan it is noted on your credit score and will have an ever greater effect on your score. You're chances of doing better than 5% with another dealership, Mitsubishi or otherwise, are about zero.
Before anyone purchases a car they should download a copy of their credit score allowing them to be realistic about their APR rates. You should also be aware of the score that is required to qualify for a deal such as 0% financing before you even let them pull your credit report.
Negotiate a deal that is acceptable to both you and the dealership and be cool about it. You're in the drivers seat on this one.
Good luck.
He speaks the truth
You're in a good negotiating position, use it. They don't want the car back as much as you don't want to give it back. I'm sure that they'll work with you if you're cool about it. Why don't you make them offer and see if they take it. Try to meet them halfway. I'm sure that you can probably get a lot closer to your price then you think.
Also, keep in mind that your credit score is now lower than it was before you went through this process. Everytime someone looks at your credit your score goes down slightly. If you were denied a loan it is noted on your credit score and will have an ever greater effect on your score. You're chances of doing better than 5% with another dealership, Mitsubishi or otherwise, are about zero.
Before anyone purchases a car they should download a copy of their credit score allowing them to be realistic about their APR rates. You should also be aware of the score that is required to qualify for a deal such as 0% financing before you even let them pull your credit report.
Negotiate a deal that is acceptable to both you and the dealership and be cool about it. You're in the drivers seat on this one.
Good luck.
He speaks the truth
Aug 11, 2005, 12:08 PM
#118
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try to keep the evo. suck it up and pay the extra ~$15/month. If you think you credit rating is bad now, just let this deal fall through and then see how bad it is.
You kind of F* ed up trying to buy the EVO in the first place, but now you have to just deal with it and move on.
Enjoy your new sevatude...
You kind of F* ed up trying to buy the EVO in the first place, but now you have to just deal with it and move on.
Enjoy your new sevatude...
Aug 11, 2005, 12:09 PM
#119
Originally Posted by gsujeff55
ding ding ding...we have a WINNAR! someone who knows how to calculate by doing math, not by looking at their monthly loan statement...LMAO
and that is a good point on the 2 year selling thing, i didn't look at the 24 month on the amortization....kudos to you
and that is a good point on the 2 year selling thing, i didn't look at the 24 month on the amortization....kudos to you
In other news, dude, with $2,000 off at 5%, its $390.62. $12.30 more per month. Plus, if you didn't get the 0% for $hitty credit, keep the car, make timely payments, and then the Evo 10 will be 0% for you
I say keep it. It'll help in the long run. Beat the car, too, and they may have recourse to keep more of your downpayment...I've seen it happen. Contractual agreements suck because they so heavily protect the lender. I know MMNA is horrible, and I can't wait for them to go down in flames and beg for us loyal Evo owners to accept their apologies for alienating us with their false promises and voided warranties, but this isn't too bad. At least they're offering you something.
Aug 11, 2005, 12:36 PM
#120
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Originally Posted by Phalse
As if posting this morning about my new found joy at owning an evo were surely a catalyst for disaster...
So 2 days and 320 miles on the car later *120 just to get home*, I get a call tonight, its the manager, not the salesman.. says that the deal was done after hours when mitsu financing wasnt avail to check with, and that after examining my credit history, I dont qualify for the 0% under the diamond college plan, due to "deragatory credit history".
Claims that the deal cant go through as is.. and tells me my options are
a) get a cosigner with teir 1/2 credit *cant.. *
b) rework the deal and accept 5%
c) they come get it, and give me back my $8k.
Managers being really aggressive, saying that it was to good a deal, and that with my credit I shouldnt have expected that to go through, even with $8k down. Says that other dealers are getting 2k + dealer markups and that I got it for sticker, yadda yadda.. wants to go so far as to drop $2k off the price, to reduce the note at the revised 5%..
I tell them to come get it, and gimmie my damn money back.. it is retarded to treat a paying customer this way, after they put down good money, signed a deal and drove off.
I know alot of people say I should keep it and that I have various recourse to do so.. but I dont want the damn thing now.. its a kick *** car, but someone treating me like that doesnt deserve my business.
So, if you're tempted to go get an evo, and the deal seems to good to be true withis this f'ing 0% 60 month cocktease, it prolly is.. apparently large Mitsu dealers pull shade tree used car dealer **** now.
Bye bye little evo, they are supposed to come get it tommoro morning.
beware satan.. they have that name for a reason, and apparently i forgot that.
So 2 days and 320 miles on the car later *120 just to get home*, I get a call tonight, its the manager, not the salesman.. says that the deal was done after hours when mitsu financing wasnt avail to check with, and that after examining my credit history, I dont qualify for the 0% under the diamond college plan, due to "deragatory credit history".
Claims that the deal cant go through as is.. and tells me my options are
a) get a cosigner with teir 1/2 credit *cant.. *
b) rework the deal and accept 5%
c) they come get it, and give me back my $8k.
Managers being really aggressive, saying that it was to good a deal, and that with my credit I shouldnt have expected that to go through, even with $8k down. Says that other dealers are getting 2k + dealer markups and that I got it for sticker, yadda yadda.. wants to go so far as to drop $2k off the price, to reduce the note at the revised 5%..
I tell them to come get it, and gimmie my damn money back.. it is retarded to treat a paying customer this way, after they put down good money, signed a deal and drove off.
I know alot of people say I should keep it and that I have various recourse to do so.. but I dont want the damn thing now.. its a kick *** car, but someone treating me like that doesnt deserve my business.
So, if you're tempted to go get an evo, and the deal seems to good to be true withis this f'ing 0% 60 month cocktease, it prolly is.. apparently large Mitsu dealers pull shade tree used car dealer **** now.
Bye bye little evo, they are supposed to come get it tommoro morning.
beware satan.. they have that name for a reason, and apparently i forgot that.
do yourself a favor, read this website:
http://www.carbuyingtips.com/scams.htm
the "LieNance" manager says you got a good APR, hands you the keys, and you drive home. Two weeks and 500 miles later, they call you saying "Sorry, you didn't qualify for the interest rate we signed you up for". This is where "subject to financing" clauses on contracts bite you in the butt. Everyone thinks that you sign papers and drive off and the deal is done. But it's far from done. They knew what you qualified for before you signed, unless you lied about your income. Otherwise they'd never let you drive off with the car.
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. So why the problems with the dealer's lender? There usually is no problem, it's a scam. There is a phrase on most buyers orders 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 $50/month. They pull this scam on people with bad credit, because it's believable. They get the least resistance from this crowd. If they pull this scam on smart people like you and me, they'd get nowhere with it. So why would they tell someone with bad credit that they got them 6% APR when they knew the buyer would not qualify for under 18% APR? To sell the car!
How to avoid the scam: This one is very simple to avoid. DON'T FINANCE AT THE DEALER if you have bad credit. Try to arrange your own financing then see what the dealer has to offer. If you have good credit, they usually don't pull this scam. Read our chapter on How to finance your car or use a credit union instead. By bringing in your own financing, you won't have to endure all the monthly payment quotes and scams, and the deal will be conducted the way it's supposed to be: based on the selling price of the car, not based on the monthly payment. The minute they start negotiating the car by monthly payment, it's time to leave, as fast as your little feet can move you. They are trying to condition to you as a monthly payment, while shielding you from the actual selling price. 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. Once that happens, you know the lender has accepted your loan and processed it. Sure they hand you the keys and say it's all right to drive off right now with the car, but don't do it. For other buyers the dealer will tell them on a lease, that the dealer made a mistake and you need to come back in and resign a new contract. And gosh golly, your new monthly payment will be higher. If your purchase was a lease, then it's a contract, and the dealer cannot make you undo a contract. Just think, if you tried to get out of lease, they would come after you in court right? What to do if this scam happens to you: If you are sure that you at least got a decent price on the car based on what you learn on this site, then your best solution is to preserve your deal, by doing what you should have done in the first place; get your own instant financing online. If you have a credit score over 650, go online right now toCapital One Auto Finance or E-LOAN and apply online, and get approved within the hour. They will FedEx you a check, which you'll have the next day and take that to the dealer to pay for your car, now you have a guaranteed car loan and the lender will not call you 2 weeks later to say it financing fell through! If your score is below 650, then apply through AutoCreditFinders instead. If the dealer says they won't take the checks because "the checks from online lenders bounce" they are lying, and just trying to railroad you into their profitable financing. You should then get out of that deal.
Last edited by Dr. SS; Aug 11, 2005 at 12:48 PM.