So my friend bought a 2009 scion xb a few weeks ago(with a co-signer). my friend JP works there so i asked if he could help us out on all the paper work so he did, we came up with the final price and he said $600 down in the next month, my friend had no problem in putting in the $600. So we signed the agreement and everything and he drove off with his 2009 xb. but this morning I get a phone call from my friend JP asking if my friend can put another $1000 because the bank is asking for it, he told us to expect a call from the bank later on. But my friend has already signed and finalized everything. am i missing something here? btw he is also a first time buyer thats why he had a co-signer.

 

if it is finalize, then your friend shouldn't need to pay another $1000.
Read over the paper works to make sure it does not said anything about another $1000.
But your friend JP might be in trouble for letting a car go with low down payment by the bank's standard.

 

but my friend had a co-signer with a credit score well over 700. but i dont know, we shall see what the bank has to say.. with the economy like this hell no are they getting that extra $1000 from my friend.

 

Dam this sucks yo

 

^^^ that would be my friend who is having this $1000 crises.. we shall fight back with the bank though. if they want our business then they will listen to us.

 

The man trying to bring me down haha

 

The man trying to bring me down haha

 

sounds like they rolled your friend betting on an approval, and the bank declined. it's common, fighting with the bank won't necessarily help. if they don't want your deal, you'll have to find another bank to buy it.

i don't know how big stores work as i work for an independent, but the deal may unwind and your deal will have to be resubmitted to other banks until it is approved. check to see if the dealer does any work with credit unions, they seem to be easier to get deals approved lately. they do require more stips, but it sounds like it may be worth a shot. good luck.

 

so my friend JP talked to the bank and i guess he manage to talk them down to $0 down instead of that $1000... woohoooo Avondale scion+1, bank+0

 

For future reference no deal is finalized until the bank buys the paper... Ie finances the deal.... First time buyers or rough credit can be hard, but us dealers will fight tooth and nail to get a deal done.

Looks like that is what JP did or found a bank that would take it... whatever works :0

 

It would be tough to sell as new with all those miles on it.

 

JP is awesome! I bought two xB's from him and my dad bought one from him. Always goes the extra mile for the customer!