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/biz/ - Business & Finance

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1654358 No.1654358 [Reply] [Original]

After buying a used car and going through the whole rigamarole and owning it for a month; I recieved a letter from the dealership saying my loan/car financing was turned down because reasons from something.

What's weird is they have the wrong vehicle listed.
What did they meme by this?

>> No.1654378

>>1654358
Come on guys, this has my noggin joggin and I want to get a good night's sleep.

>> No.1654387

>>1654358
If it has the wrong car, you can assume its their error.

Also, do you have the info of the loan company? Can you log into the site and make payments? If so, then clearly nothing is wrong.

>> No.1654395
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1654395

>>1654387
The car's financing was done through Socitabank, or in other words some third party bank that I don't go to.

The first payment was yesterday and the money was taken out. When I go to SB's website the account's plan just gives me an error and tells me to try again.

>> No.1654396

>>1654395
Scotiabank*.

It should be noted that I was able to look at my 'plan' a while ago, but recently I can't.

The vague letter was sent int he mail on the 22nd of November, the payment on the 4th of December was still taken out.

>> No.1654399

Also, if it was for real, a month later?

They typically pull the "You need to resign a "fixed" contract" crap 24-72 hours after the fact. Not one month. If they are doing this a month later then they probably fucked something up in the paperwork (i.e. told finance company you bought a different kind of car than the one you got). Finance companies do care about what kind of car it (price wise generally) is and if its used or new.

Generally a dealership will do a precursory pull of your credit to see what you are good for and get loan offers. Sometimes they need to verify proof of income like a few weeks later but usually thats only large dealers that have a huge stream of paperwork to deal with.

Remember the contract you signed is with them, I read somewhere that they pulled that kind of crap with someone and he sued for the right to pay the dealership directly the monthly payments since the contract was between him and dealership.

Its not like you can just rip up the contract a month later and go "lol this is the wrong kind of car for me" so why should the dealer be able to as well? You might need to get a lawyer involved if it gets ugly.

>> No.1654403

>>1654396
>It should be noted that I was able to look at my 'plan' a while ago, but recently I can't.

I would call the bank and see if the account is still good. Theyve already taking the first months payment, so it will be hard if not impossible for them to call the loan due (essentially cancel).

>> No.1654405
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1654405

>>1654399
It was basically a month, when you say weeks later it probably is. It might as well be a month though.

It was done on the 4th of November, the letter was sent on the 22nd, I got it JUST NOW and paid my first payment yesterday.

I'm hoping it is just an innocent error somehow.

>>1654403
I'll call the bank tomorrow, should I go into the dealer and talk witht he agent I worked with in there?