I think they are allowed to fill in the financial institution part later when they actually find me one but the terms and rate has to be on paper when I sign.
I was going to contact the BBB and get a hold of the state licensing body about them. I was also file a formal complaint to the AG as well.
Thanks
Quote:
Originally Posted by spectrumphoto
OK... 2 cents here....
Did they "find" you new financing at the 7% or just push through the original contract terms upon the financing company? If it is "new" financing at the original terms they are going to need a new contract... Easy, do not sign. If they are honoring the original contract with the original financing company then you are in a more difficult spot.
Have you signed over your old car yet? Have they paid off your balance on your old car? You could contact your current lien holder and put a stop payment on it, and notify the dealership that you are stopping the transaction and they have to return your car or face potential theft charges. (If your car has been re-assigned then this will not work)
The other best option is to get the local Better Business Bureau as well as state dealership licensing body (every state has one) involved. An Attorney is rarely your best option. Its expensive and time consuming. It can happen (and does so more on non banking days/hours) that there is a rate change because they could not get your credit terms approved. This can be used as a deal breaker. It is kind of rare though for the dealership to come back to where they first were in terms of interest rate and actually kind of odd.
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