the only thing is the term is shorter, as he stated, making his payments go higher even though the APR is lower....but read read read read is the name of the game..
OK, then I will shorten my post to this:
Why do you feel they owe you anything?
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2007 Toyota Tundra CrewMax SR5 5.7L w/ TRD Package, Blue Streak Metallic/Graphite, FormulaOne Pinnacle Ceramic Tint (15%), auto-dimming mirror, Line-X Bedliner (under the rail), RS3200 alarm/GBS/hood switch, brushed stainless steel running boards, bed extender, door sill protectors, TRD rear sway bar, TRD CAI, Corsa Touring exhaust.
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went in and told the guy i wasn't going to sign the new contract unless I got the additional $1000 in rebates. he said he can't do that because they have to backdate the new contract to 7/31/09. I told him I wasn't going to do the new deal and that there was nothing in my contract stating that this was a 'preapproval' from Toyota. He gave me some BS about how nobody did anything wrong, they were just looking out for me and getting me a better deal. BS!!!
I also called Ford and found that they still hadn't paid off my trade. I told the finance guy this and he swore that they pay all trades in 10 days. I told him to call and confirm with Ford and we confirmed they hadn't paid off my trade. I asked him what would stop them from doing this again with the new contract, and all he would say is that he was saving me money.
I finally told him that this sounded like a yo-yo scam, and then he just threw up his hands and said "Fine, we'll do the original deal". I went out and talked with my salesman and he said they have to honor the deal they signed. He did confirm that they fired the guy in finance for giving people too low of interest rates. He told me to stick to my guns and not to give in. He said the dealership would have to pay out of pocket to buy down the interest rate, since it was their fault.
So I drove off and called the finance guy 20 minutes later. I told him that I understood that they were probably going to have to pay $2-3k to buy down my rate, so to offset this, I would do the new deal if they would throw in some accessories; giving them the option of $1500 in accessories or $3k to buy-down the rate. He said he was just going to force Toyota to uphold their contract, but that he would keep this in mind.
To the previous posters, there is nothing in my contract about a 'Sellers right to cancel' or that the signed rate is just a pre-approval. I read the whole thing. So I'll keep everybody updated.
Why do you feel they owe you anything? As was stated earlier, this type of situation is not uncommon but in this case it sounds like it worked out in your favor via a lower interest rate.
(Just a thought: if the dealer doesn't offer to give you the truck, thousands in accessories and an ownership interest in their business maybe you should contact our federal govenment....they're getting very good at giving people things they don't deserve.)
I take offense to this. i'm not asking for a handout. The dealership will take every opportunity to make additional money off of you, whether it be when you purchase a new car or with their service department. I have a 1999 Toyota Camry with 180k miles on it and have been taking it to Star Toyota for any major tune-ups. The one time I have the opportunity to use my position to get some back, and I'm supposed to say "No, that would be a handout"? Give me a break.
My wife and I make well over $100k a year and my credit score was 680, which isn't fantastic, but not bad either. i'm not bragging, just laying out the facts. This is not a case of me trying to get into something over my head. This is a case of a dealership employee gone wrong and they just want me to brush it off and act like nothing happened and did nothing wrong, all for the sake of saving them money because they now have to buy-down the interest rate out of their pocket.
went in and told the guy i wasn't going to sign the new contract unless I got the additional $1000 in rebates. he said he can't do that because they have to backdate the new contract to 7/31/09. I told him I wasn't going to do the new deal and that there was nothing in my contract stating that this was a 'preapproval' from Toyota. He gave me some BS about how nobody did anything wrong, they were just looking out for me and getting me a better deal. BS!!!
I also called Ford and found that they still hadn't paid off my trade. I told the finance guy this and he swore that they pay all trades in 10 days. I told him to call and confirm with Ford and we confirmed they hadn't paid off my trade. I asked him what would stop them from doing this again with the new contract, and all he would say is that he was saving me money.
I finally told him that this sounded like a yo-yo scam, and then he just threw up his hands and said "Fine, we'll do the original deal". I went out and talked with my salesman and he said they have to honor the deal they signed. He did confirm that they fired the guy in finance for giving people too low of interest rates. He told me to stick to my guns and not to give in. He said the dealership would have to pay out of pocket to buy down the interest rate, since it was their fault.
So I drove off and called the finance guy 20 minutes later. I told him that I understood that they were probably going to have to pay $2-3k to buy down my rate, so to offset this, I would do the new deal if they would throw in some accessories; giving them the option of $1500 in accessories or $3k to buy-down the rate. He said he was just going to force Toyota to uphold their contract, but that he would keep this in mind.
To the previous posters, there is nothing in my contract about a 'Sellers right to cancel' or that the signed rate is just a pre-approval. I read the whole thing. So I'll keep everybody updated.
I take offense to this. i'm not asking for a handout. The dealership will take every opportunity to make additional money off of you, whether it be when you purchase a new car or with their service department. I have a 1999 Toyota Camry with 180k miles on it and have been taking it to Star Toyota for any major tune-ups. The one time I have the opportunity to use my position to get some back, and I'm supposed to say "No, that would be a handout"? Give me a break.
My wife and I make well over $100k a year and my credit score was 680, which isn't fantastic, but not bad either. i'm not bragging, just laying out the facts. This is not a case of me trying to get into something over my head. This is a case of a dealership employee gone wrong and they just want me to brush it off and act like nothing happened and did nothing wrong, all for the sake of saving them money because they now have to buy-down the interest rate out of their pocket.
that was the issue...low credit score...
well if the dealership really did mess up i appologize for my replies earlier, all mine have been done after bank hours and always have had that clause so they could get approval the next day or week (if it was a saturday) i assumed that was the deal. but glad its working out for ya. lesson learned: new dealership next time around.
The biggest problem IMO is that it took them 3 weeks to figure this all out? WTF? I would be PO'd as well because you have been driving your truck, you have signed all of your papers, they have quoted you a rate and a payment, and all is good. Then 3 weeks later they are telling you they need to redo the deal? Definitely a problem in the finance department at that dealership. I'm glad they honored the original deal.
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My Toyota dealership just called and said that Toyota won't finance me for the finance rate they quoted me during finance. Mind you, I signed 3 weeks ago. So they found another bank with a slightly lower interest rate. Anybody ever experienced this?
I'm also thinking that I should get something for this inconvenience. Maybe a TRD CAI kit. What do you think? What would you ask for?
You got a lower interest rate and your pissed off at the dealership????
you must not have read the thread either.... he got a lower APR but also shorter terms so his payment went up....
I read the comments here a couple of times, and really not sure what the heck the issue is.
Get quoted a lower rate, but, shorter time. There is no financial out of pocket loss here.
If the problem is the new monthly payment is too high on the shorter term, then you have
a different problem to manage.
I do not like the way the dealer managed it, but, if he had said "your rate is going from 3.9 to a new 6.9% as example, then yes, I would fight back. Guess, I missed something here.
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John
The Toy: 2000 Tundra 4.7L TRD Limited 4x4 Red Pearl (23.0k Original Miles)
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Re: What would you ask for?
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