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cryix47

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Everything posted by cryix47

  1. If, in fact you were approved by American Honda Finance, then you will not receive a declination letter, nor a notice of adverse action. Still nothing and it's been from the 29th till 1/19 no adverse letter from Honda.
  2. All this up roar about how the dealer is screwing you and everything else AND then they come back with a big interest rate and you take it any way.. Makes no sense! You wouldn't listen to any of the advice from the pros in the industry in the thread or any one else for that matter. How quickly with a sub prime score and a new car do you think you can refinance that 17% rate!? I think there is a lot more to this story then you told us! There isn't anything else to devulge in regard to this stealership. I needed the car for business, and so I traded up to a bigger and nice vehicle. The dealership had plenty of time to secure financing, I still have yet to get a declination letter from Honda Finance. The dealership said they chose not to go with Honda Finance because I'm self employed. Stop making accusations that I'm in the wrong. I get the sense that maybe your a LieNance person at a stealership. So like I said there was more to the story! You have POI issues so that's the real reason why the dealership couldn't get you approved through Honda! Wrong... I was approved through Honda. In fact Honda even called me, but the stealership went with a different lender because of my self employment. I have yet to recieve a decline letter from Honda Financial, but Crap1 and Chase came already. They called and said what your approved?! Doesnt work like that.. You do understand the dealership would have to pay santander a fee for picking up that sub prime loan right?? So your saying the dealer said no thanks to the Honda deal and went with a bank that they have to pay a fee too?? Then ontop of that risk you not taking the deal and returning a car that was driven for weeks?? They were verifying my identity because of a FA and also requesting bank statements... So it was no simple phone call.
  3. Furthermore, I think we maybe in the beginnings of another economic calamity. The stock market is a mess, housing is a mess, student loans....
  4. The whole reason behind this thread is because I've never experienced a Spot Delivery because pre financial crisis I was in the 700s FICO wise, but due to the economic calamity I ended up lettering cards go into CO and then sold to JDB's. When I previously financed with those scores. I was in and out of the dealership at most within 2 hours.
  5. All this up roar about how the dealer is screwing you and everything else AND then they come back with a big interest rate and you take it any way.. Makes no sense! You wouldn't listen to any of the advice from the pros in the industry in the thread or any one else for that matter. How quickly with a sub prime score and a new car do you think you can refinance that 17% rate!? I think there is a lot more to this story then you told us! There isn't anything else to devulge in regard to this stealership. I needed the car for business, and so I traded up to a bigger and nice vehicle. The dealership had plenty of time to secure financing, I still have yet to get a declination letter from Honda Finance. The dealership said they chose not to go with Honda Finance because I'm self employed. Stop making accusations that I'm in the wrong. I get the sense that maybe your a LieNance person at a stealership. you've learned absolutely nothing except the "stealership" and "LieNance" person jammed you with a high rate loan and it took them 3 weeks to do it? really? I mean really? you are in the situation you deserve to be in... read this thread again and tell me I'm wrong that's why Marv gave up so fast.. he spotted this a million miles away +1000 I am new and I also thought this was very strange in the beginning. I am not sure why the OP thought just because they had Honda before that they would automatically qualify or be "entitled" to Honda financing despite their scores and being sub-prime. [emoji849][emoji849] [emoji322]2016 is my year. My journey started 1.13.2016 with a score of 390[emoji25] Marv said so and he's the guy that knows the financing procedures. The dealership even said that getting another loan with Honda wouldn't be a problem because all leases and loans were in good standing.
  6. All this up roar about how the dealer is screwing you and everything else AND then they come back with a big interest rate and you take it any way.. Makes no sense! You wouldn't listen to any of the advice from the pros in the industry in the thread or any one else for that matter. How quickly with a sub prime score and a new car do you think you can refinance that 17% rate!? I think there is a lot more to this story then you told us! There isn't anything else to devulge in regard to this stealership. I needed the car for business, and so I traded up to a bigger and nice vehicle. The dealership had plenty of time to secure financing, I still have yet to get a declination letter from Honda Finance. The dealership said they chose not to go with Honda Finance because I'm self employed. Stop making accusations that I'm in the wrong. I get the sense that maybe your a LieNance person at a stealership. So like I said there was more to the story! You have POI issues so that's the real reason why the dealership couldn't get you approved through Honda! Wrong... I was approved through Honda. In fact Honda even called me, but the stealership went with a different lender because of my self employment. I have yet to recieve a decline letter from Honda Financial, but Crap1 and Chase came already.
  7. When you're in the LieNance office say "come on man work me a miracle"
  8. Portfolio Recovery and Midland. I've been down this road before with the now defunct NCO and Asset Acceptance. DV CMRRR or do the CMRRR DV and they at the same time dispute with the CRA. And then there's the dunning letter or the nutcase letter that you use as a last resort
  9. All this up roar about how the dealer is screwing you and everything else AND then they come back with a big interest rate and you take it any way.. Makes no sense! You wouldn't listen to any of the advice from the pros in the industry in the thread or any one else for that matter. How quickly with a sub prime score and a new car do you think you can refinance that 17% rate!? I think there is a lot more to this story then you told us! There isn't anything else to devulge in regard to this stealership. I needed the car for business, and so I traded up to a bigger and nice vehicle. The dealership had plenty of time to secure financing, I still have yet to get a declination letter from Honda Finance. The dealership said they chose not to go with Honda Finance because I'm self employed. Stop making accusations that I'm in the wrong. I get the sense that maybe your a LieNance person at a stealership.
  10. Car is financed through Santander at a whopping 16.93apr at 72 months. I need to refinance this loan, but I'm not sure about time frame when I should start the application process. Also LTV seems to play a big role in refinancing.
  11. Is this necessary? A lie would be telling you something that they new to be absolutely false opposed to telling you something they believed to be true at the time. It absolutely is! The LieNance manager said he could get me financed at 10.00APR and now all of a sudden Santander is now the bank that's going to do it at 17% L&I manager sounds more appropriate vs F&I.
  12. Update: The dealership finally called me. The said Santander is now doing the loan at 17%! The deal isn't fully done because of a fraud alert on Equifax. I knew this was going to happen, a yo-yo scam. The odd part is that the LieNance manager wants the old documents from 12/29. It sounds like a legality issue for the dealership.
  13. I'm very surprised at how hot my thread about Spot Delivery has gotten. This is the first time that I've ever encountered this tactic to sell a car. I can understand the methodology behind if for people with stellar credit because financing can easily be done because there's far more banks to work with, but to do a spot deliver to someone with less than stellar credit is extremely risky. The dealership would ultimately be hit with a huge loss because the car can't be sold new
  14. You'd be surprised what you can find out on FB. This is why I have my account on lock down. No one can find me, so if I want to friend someone I have to find them. Now back to the main topic. I spoke to the sales guy that sold me the car, but apparently the F&I people were in a meeting, so he touched base with the sales manager that I worked with. Still no calls back to me. It's as if they're avoiding the situation. I called American Honda yesterday and they're not pleased to say the least. I should hear something today from Honda about what is going on. My trade is still on the lot but the loan on that has a payment due on the 14th, which I can pay, but I don't even have the vehicle in my possession anymore; it's still on the lot, but in a collision center garage. You'd think the dealership would call me back to unwind the deal, but they haven't and I'm curious as to why. I have Honda, WANADA, and the BBB after this dealership for the reasoning behind the huge delay.
  15. Will do. I'm just concerned with the time frame that this dealership has had to get the deal done. They had all of last week done and now we're into another full business week of January. My Mazda trade hasn't been paid off and I have a payment due on that loan on the 14th
  16. I was on the Facebook dealerships profile and found the actual owner of the dealership; however I'm uncertain if I should reach out to him about all the rigmarole that I've gone through.
  17. There's no negative equity on the Mazda trade. There's actually a little equity to put towards the new car. I've given them all the documentation needed. Bank statements etc...
  18. That statement has nothing to do with spot deliveries.. OP seems to think the financing shouldn't be a issue. Also keep in mind only one person makes a spot delivery possible! The financing shouldn't be an issue because the F&I person said it would go through. I've left voicemail's and have not received a return phone call yet. Very Unprofessional
  19. What concerns me is a form that I signed called "Convenience Delivery Agreement".... I, the undersigned in furtherance of the purchase order attached hereto has (xx) applied for the loan described therein ( ) give a check in payment of the balance due thereunder, and understands that I am authorized to possess the vehicle described in said purchase or by leave of the Seller and that such maybe withdrawn without notice or cause at any time prior to the execution and delivery by the Seller of a Certificate of Title to the vehicle, to the lender or to me. I acknowledge that the Seller shall have the right to take any action deemed necessary be it repossess the vehichle, including, without limitation thereto, the right to enter any premises and remove the vehicle or render it unusable. This form is worded strangely and I'm having trouble determining if this is the Spot Delivery Agreement. It's written just as the form has the wording.
  20. The problem I have with this whole deal is the time frame that it's taking to seal the deal. The LieNance manager that did the deal should have the financing situated. Let's see I took delivery around 8pm on the 29th of Dec, so I'll leave that day out since many banks are probably closed for the day; however like a poster mentioned. Most financing companies have automated decisioning. Then there's the 30th which is a business day and albeit the banks could be short staffed with NYE around the corner, but nonetheless it's a business day. Then there's the 31st once again a day that banks are short staffed and possibly shorter business hours. We're well into the return to normalcy in regard to banks. The dealership had this entire week to secure financing. My loan for the Mazda trade has yet to be paid off. They have the title and all documentation to proceed with getting the deal done. The LieNance manager created a contract with Honda Financial with my apr listed my term and my monthly payment. It's not like I can't afford the payments, so I don't see why financing should be an issue.
  21. What exactly did the F&I Manager tell you was the response from Honda Financial? Was you application turned down? Did they submit it to another lender for consideration? Was there any stipulations aside from your proof of income? I didn't get a solid answer from the finance manager. When I initially went in on 12/29 I was told that I was approved because of 3 previous Honda Financial loans that were all in good standing, and a Honda Financial agreement was created in which both the finance manager and I signed. Then my file gets thrown around and ends up with the Kia finance manager who was working with another bank "Capital One". I spoke to the Honda finance manager that did the deal on 12/29 yesterday. He told me that he's now working with Santander and that I would receive a call today. No call at all! I went ahead and contacted WANADA about the situation and have someone working on the situation. Everything about this dealership is sketchy. If I go into the dealership I'm going to park the car on a different sales lot in case they try to seize it.
  22. Still no financing set in place today. I'm beginning to get irritated. I gave them the title to the trade but the second 1k I'm holding until i get a firm approval. I'm not sure what's taking so long. I spoke with the guy that did my deal instead of the Kia finance manager and nothing solid is in place. I was told that having previous auto loans through Honda that are all in good standing would automatically get me approved through Honda Financial. This is a dealership outside of DC with high volume sales, so I'm still unsure as to why it's taking so long to get the financing done. I make ample amount of income, so I'm not sure what the problem is. Terrible way to start the New Year!!!
  23. This purchase was for a 2016 HONDA not a KIA, but the dealership sells both Honda and Kia

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