Last post on Dec 03, 2013 at 6:13 PM
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What is this discussion about?
#2413 of 2456 Re: thanks [allen1076]
Apr 28, 2012 (2:23 pm)
it is all based on what the computer spits out and tells the guy who makes the calls. If you really have an issue, get to a supervisor and be polite, and they should take care of the situation after looking at the details.
Apr 28, 2012 (10:47 pm)
I will be calling on Mon. I did ask the guy to tallk to the supervisor and of course I got, "I am the supervisor" Maybe I will have better luck on Monday
#2415 of 2456 parental car buying help?
by Stever@Edmunds HOST
May 02, 2012 (2:49 pm)
A reporter would like to speak to anyone between the age of 20 and 30 who needed financial help from a parent to buy a new car. If you fit this description – or if you are a parent who has helped a 20-something son or daughter buy a new car - and you’d like to share your story, please send your daytime contact information to PRedmunds.com no later than 3 p.m. Pacific/6 p.m. Eastern on Thursday, May 3, 2012.
#2416 of 2456 Can Dealer do this?
May 03, 2012 (7:33 pm)
I purchased a 2012 Prius on Apr. 23, 2012, everything was signed and I drove away and they have my trade in. they call me a few days later telling me I need a letter from my mortgage company stating that I am current with my mortgage. The mortgage company will not fax customer sensitive information and I am getting irritated at all of the phone calls and texts I am receiving.
Shouldn't they have asked for this information BEFORE the contract was signed? Am I obligated to run around and get this information and what can they do if I do not do it?
#2417 of 2456 Re: Can Dealer do this? [jeannepaul]
May 04, 2012 (7:05 am)
It sounds like you drove away with the car the same day. That's called a spot delivery. I presume you financed your car.
The problem with a spot delivery is that the financing often isn't fully sorted out. The bank probably gave a conditional approval based on quick information and somewhere in your loan documents it says the financing may not be final. Since they can't get proof from your mortgage company that you are current with your loan, the bank won't fund the loan - which means the dealer can't get paid.
Are you obligated to do this? There's no clear cut answer. IMHO, get the letter and forward it along.
#2418 of 2456 Re: Can Dealer do this? [robr2]
May 04, 2012 (7:35 am)
best as I understand, the dealer accepts the risk on a spot delivery. So, your option is to try and get what they want, or if they aren't happy, bring the car back and walk away. Of course, unless your trade in is still sitting there untouched, that could get a bit messy!
#2419 of 2456 Re: Can Dealer do this? [stickguy]
by kyfdx@Edmunds HOST
May 04, 2012 (8:25 am)
All they want is some documentation... I certainly wouldn't bring a car back, over that..
Not really up on car financing, but if you close a real estate loan, you usually sign a form that says you will assist the lender or their agent in correcting or obtaining paperwork that they need to close the loan... Guessing there is something like that in the fine print of the retail installment contract that was signed..
I'd guess they are having trouble placing the financing... the credit report would show a mortgage problem.... so, this might be a sub-prime lender..
#2420 of 2456 Re: Can Dealer do this? [kyfdx]
May 04, 2012 (8:49 am)
I don't get this... I just pulled my own credit report, and was astounded to find out how much information is on those things.
They knew to the nearest dollar how much my last payment on my credit card was, what the balances were, and even the size of my car payment. In 2003!
And next to every account, there was this little heart-warming statement:
"Pays as agreed."
Something here isn't adding up. Showing that someone is "current on their mortgage" is exactly what the credit report does.
Rather than jump through hoops and run around after documentation, I'd try to figure out what's _really_ going on here.
#2422 of 2456 Whats is considered to be a good score to qualify for a BMW X5?
May 06, 2012 (8:21 pm)
I do understand that any score in the excellent category 750 and above can always qualify for whatever car they want.
I work for a large financial company, with over 120K annual salary, however due to some unforseen events my credit score dipped over last few years, and everything is back on track, and i have cleared all my past debts. And the score is gradually rising.
For me to qualify for a BMW X5 suv, whats a good downpayment and a good score? currently the credit score is 650. How much more?