Our families long time dealer is putting me in the position of having to be the ******* on Monday. His secratary called me on Friday and said that because of a tier level they should have done my loan through Ford Credit at 2.9% instead of 1.9%. I signed on Tuesday but had all the paperwork completed on the 29th to lock in the 1.9% financing. It wasn't due to my credit, but due to the fact that I added some to the loan to do modifications to the truck. Gotta call them and explain that this is their problem, not mine and they'll need to find a way to fix it. They want me to either pay an additional $1656 or add $23 a month to my loan payment because of their mess up.

Anybody else run into an issue like this?

 

No.. but I'd tell them to shove the truck up their wazoo if they don't shut up and accept to their fault.

If they give you problems, tell them that you will return the truck, and you want your money back....

 

Why should you pay for their mistake? Tell em to shove it.

 

You have a signed contract and they have to honor it (just as you do on your end...you couldnt call them back and tell them the cost of fuel went up and you need to rengotiate the monthly pamyents a little.)

 

Never had it happen to me, but I have heard of it happening. Tell them it is their fault, and they have to live with it... like Tony Soprano says... its business.

 

They deal with it or you take you business elsewhere! Bottom line! Especially if they are going to treat a long time patron like that!!

 

exactly!LOL. i wish i could go back to the dealership to re-negatiate because of rising fuel costs

 

I really don't think they have a leg to stand on. It seems like you agreed to the deal based on the contract that you signed. If they change the contract, you can choose to not sign it.

 

Once a contract is signed & you already took delivery it's a done deal, they will have to deal with it on their end! Legally they don't have a leg to stand on!........

 

my wife bought a new 02 car in 01-turns out the salesman sold her the car[loaded] model at base price-said since it was in writing they had to eat it and honored it

 

like everybody else has said, they need to suck it up but...

Read your contract thoroughly. Stealerships didn't get that name for no reason. You're dealing with some shady folks. Make sure that none of their clauses printed on the back in small print say that they can do this.

They tried to screw me once on DMV fees. My contract said $46 (military, non-resident). A month later I got a letter saying they screwed up and had to pay over $500 and that I need to bring them the difference. I just ignored the letter and haven't heard from them since.

 

If they are wanting to raise your interest rate...Screw them. If they forgot to add your mods to the loan. Let your conscience be your guide.

If they have your mods in the loan, and they are just wanting to charge you more interest...the loan has been approved, so screw them.

 

Thanks for the comments. I just got off the phone with the dealership this morning and told them that they need to fix their own mistake. The secratary said she would have the dealer call Ford Credit and try to have them take the loan. I guess Ford Credit isn't wanting to accept the loan in its current form because of the 1.9% and they are saying it is a special interest rate already. I also gave her RamSS/T's thought that I can't have the loan renegotiated because fuel prices just went up, so why should I have to renegotiate because they want the interest rate higher? She said she couldn't disagree with that, but it'll ulitmately be up to the dealer.

I finished off our conversation by telling her I really dislike being put in this position because of their mistake, especially that they checked into this specifically when I was sitting down closing on the loan. In my business I'd eat it if I made a mess up like this, so I expect them to do the same. I gave her an earfull, but was cordial about it and not tearing her a new one while doing it. Hopefully they'll get it fixed and we can move on. I still need them to finish the mods to the truck, so I don't want to ruffle any feathers if I don't have to.

 

1% more interest is 23 more bucks a month?

 

Reminds me of my tire issue... legally, they could have told me, "Oh well, you should have looked a little better before signing for the truck...."

But obviously they didn't.

Not sure in your situation what kind of action would need to be taken.

First, you as a U.S. Citizen do have rights:
1. Once you sign the contract it is binding between you (the client) and the business. Whatever is agreed upon and signed upon, is what sticks.
2. You have the right to seek an attorney to sort this out.
3. To go tell the dealer that they shouldn't be playing with fire.