car dealership changing finance rate?
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SL Member
Joined: Feb 2005
Posts: 49
From: Mesa, AZ
Sounds like what happened to me, except I wasn't told anything. I forget what my interest rate, I think it's 5.1 like you. I was told it would be 5.0% for this special scion plan through TFC, the contract says it, but my first car payment showed an extra .1 on the statement. I just said screw it, I'm not going to turn maybe 15 bucks a year into a hassle, I'm sure I'm gonna pay it off early if it isn't a lemon so unless the TC turns out to be a piece I'm sure I'll be ok. I don't know what to think so far though, so I'm not counting all my eggs yet. Maybe that extra .1% is used to send us that gift card, wouldn't that be something haha.
Senior Member
SL Member
Joined: Apr 2005
Posts: 132
From: Chattanooga, TN
I went in today and ordered mine. The dealer had a printout showing ranges of FICO scores with the associated interest rates. It went something like:
750+ 4.5%, 720-750 5%, 690-720 5.05%, 650-690 6%, 620-650 8%, 620 & lower 10% conditional.
They didn't have an IIP tC so I ordered mine. That means I don't sign the finance paperwork until it's on the lot. Anytime I go through financial papers, especially cars, I make sure they know the loan is locked in, that the loan is DEFINATELY approved before the papers are signed. If they expect me to come back and sign a higher rate then they'd better throw in the supercharger when it comes out.
750+ 4.5%, 720-750 5%, 690-720 5.05%, 650-690 6%, 620-650 8%, 620 & lower 10% conditional.
They didn't have an IIP tC so I ordered mine. That means I don't sign the finance paperwork until it's on the lot. Anytime I go through financial papers, especially cars, I make sure they know the loan is locked in, that the loan is DEFINATELY approved before the papers are signed. If they expect me to come back and sign a higher rate then they'd better throw in the supercharger when it comes out.
Senior Member
Scionetics
SL Member
Joined: Mar 2004
Posts: 3,394
From: S C I O N E T I C S
Originally Posted by vgorcar
Thanks for the responses. She is going to call the dealership today and demand a few things. First of all, if they want to write a new contract, then she wants the $400 college grad discount included this time. She forgot about it last time. That itself will more than make up for the difference. Also, she wants some free accessories because she has to drive down there, and the dealership is not close. If they give her these things, then she will sign the new contract. If not, it's time for a call to Scion. I'll let you know how it goes.
The alternative is to give back the car but they really don't want that to happen.
Senior Member
Scionetics
SL Member
Joined: Mar 2004
Posts: 3,394
From: S C I O N E T I C S
Originally Posted by dsmith5237
I went in today and ordered mine. The dealer had a printout showing ranges of FICO scores with the associated interest rates. It went something like:
750+ 4.5%, 720-750 5%, 690-720 5.05%, 650-690 6%, 620-650 8%, 620 & lower 10% conditional.
They didn't have an IIP tC so I ordered mine. That means I don't sign the finance paperwork until it's on the lot. Anytime I go through financial papers, especially cars, I make sure they know the loan is locked in, that the loan is DEFINATELY approved before the papers are signed. If they expect me to come back and sign a higher rate then they'd better throw in the supercharger when it comes out.
750+ 4.5%, 720-750 5%, 690-720 5.05%, 650-690 6%, 620-650 8%, 620 & lower 10% conditional.
They didn't have an IIP tC so I ordered mine. That means I don't sign the finance paperwork until it's on the lot. Anytime I go through financial papers, especially cars, I make sure they know the loan is locked in, that the loan is DEFINATELY approved before the papers are signed. If they expect me to come back and sign a higher rate then they'd better throw in the supercharger when it comes out.
Senior Member
SL Member
Joined: Oct 2004
Posts: 760
From: Maryland USA
I only skimmed through half of the first page but if noone's said this yet....
.1% FINANCING RATE HIGHER EVEN ON A 20,000 LOAN IS...... TWENTY DOLLARS
seriously, just refuse to resign the contract because there's got to be more to it than twenty bucks, that's just retarted. And I would tell them I want a letter from Toyota Financial telling me the APR on a car I already own has gone up.
and it's been past 10 days, end of story.
but don't make yourself look like an ___ and say "I want hundreds of dollars of stuff if I have to resign for $20." seriously, the financial accountant probably makes more than $20/hr
.1% FINANCING RATE HIGHER EVEN ON A 20,000 LOAN IS...... TWENTY DOLLARS
seriously, just refuse to resign the contract because there's got to be more to it than twenty bucks, that's just retarted. And I would tell them I want a letter from Toyota Financial telling me the APR on a car I already own has gone up.
and it's been past 10 days, end of story.
but don't make yourself look like an ___ and say "I want hundreds of dollars of stuff if I have to resign for $20." seriously, the financial accountant probably makes more than $20/hr
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