Not in the lab today (thank God). That starts up again tomorrow. Don't get me wrong, I love what I do, but one can only take so much of being stuck in a lab for 12+ hours a day.

Thanks for all the info Miniola!

 

Some good news...

IF something has gone awry, my dad offered to help with either more $$$ down or by cosigning (he has the best credit of the family). Granted this would kind of suck because I wanted my name on the paperwork to improve my credit so mom and dad don't have to be involved next time, but at least I'll get to keep the car and the lower payments.

 

^^That is some good news to hear at least.

Having read your thread it seems there was some miscommunication on their part at the dealership end.

Good luck and keep us updated on what you find out when you can.

 

Just to clarify on the Florida Deal. I worked at a dealer that sold Suzuki as well as others. The Sales manager(s) would always try to deliver you a car while you were at there, most of the time credit was spotty but there was always someone to sell the paper to . The trick is to have the customer sign (2) Power of attorney forms, one to do the deal the other to get out of it. Every Monday and Tuesday they would call up the folks and explain the additional cost due to a higher interest rate or they would get them to come in a pull the car back. Every once in a while a customer would not return the call and the finance dept did not have the 2nd POA. These cars were purchased by the dealer and the customer paid the dealer every month did'nt happen often but it does happen. I've been to the Florida Automotive Dealers School and obtaine my license a number of years ago. Don't do it anymore. Currrently write Collision Damage for an Independant Collision Center. Dealer B/S is way to much for the heart and soul - Mark

 

Wow... that sounds kinda sneaky. Pretty sure we only signed one POA. Glad we didn't have to deal with that kind of crap. Hopefully MoxieMini doesn't have to deal with that at all.

 

Hi Moxiemini-- What a shame that you received such a letter and even more unbelievable that it would arrive on a weekend!! So you are spending an agonizing weekend worrying? That sucks,,,, but I really think that this is one big mistake and you will find this out as soon as you make contact tomorrow morning. There can't be any way that your dealership wouldn't know that you had a declined application. Someone posted earlier about it possibly having something to do with the mini credit card and I am betting that this is what it pertains to,, if it actually has any accuracy whatsoever!

Keep us posted!!

 

I once got a letter like that after I puchased a vehicle. What had happened is that the dealer tried for a different down payment and it was declined. I then put more money down and it was accepted. The reason I got the letter is that the moment it is declined the computers automatically spit out a letter.

Twice now I have bought or leased vehicles that problems occured that never resulted in me giving back the vehicle. I would not worry at all. I bought a 1995 Eagle Talon AWD new. Twice they screwed up the paper work and we had to resign. It was getting close to the due date for the payment and I still did not get a payment book. I went to the bank and they had no record of the loan. I eventually had to do the paperwork a 3rd time. This time my dad said he was not driving to the dealer to sign again. When I told the dealer they said I should just sign his name. When my payment was due the bank would not take it because it still was not in there system. It took two weeks after the due date till I could pay it. About 3 months later I recieved a letter from the post office. It turned out the dealer mailed the paperwork with no stamp and no addresses on the envelope. I guess they opened it up and seen my address on the paperwork.


The second time I leased a 2001 F350. I was approved for a great lease payment. I never got a book from them either. It turned out the lease company went out of buisness. The dealer had to get me another lease with the same payment since I signed the paperwork for the other lease. It ended up that the dealer had to put a couple of thousand dollars down on my new lease to get the same payment.

 

Well the dealer opens up in an hour and a half...

In the meantime, I spoke with a friend who knows way more about this stuff than I do (his dad is a bank manager). Apparently this could just be an interest rate thing, since the day after we initially applied rates went up. Our MA said he had us locked into the lower rates, but my friend says that we may have gotten rejected for those rates since the car came in about three or four weeks later. So hopefully I'll find out here shortly. I'll post as soon as I find anything out. Thanks for all the support guys!

 

First check with the dealer business department.

Your insurance agent would have to contact the dealer for them to verify the lien-holder on your car, so someone gave assurance to your company who that was. Call your insurance agent and tell them you are just checking about your coverage/policy for rates. When they have your policy on the screen ask them to check the lien-holder.

 

While you are at it, get a free copy of your credit report from all 3 main reporting bureaus...Equifax, TransUnion and Experian.

You want to make absolutely sure that your record is spotless and that there is nothing in there making the lender second guess your credit application.

In most states, you can get a free copy of your credit report by going to this link and you can view it online right away:


https://www.annualcreditreport.com/cra/index.jsp


Make it a habit of checking your credit report at least once a year, even if you don't plan to make a big ticket purchase. With so much fraud going on and identity theft, you need to be on top of your credit report and right away make note of and report any discrepancies that are incorrect or look suspicious to you.

 

Good news everyone...

Just got off the phone with MINI of Nashville. Turns out that it was just come kind of mistake. They said that we were approved for the full amount on the 9th of January and they received the funds on the 13th. So we should be good to go. The finance guy is going to look into why we got the letter and get back to us today, so I can go register the car. Woo hoo!

 

Good news indeed.

Still, get a copy of your credit report just to make sure everything is fine with your credit. It doesn't hurt to get it as it is free by law as provided on the link above.

 

Thanks for the info.

I actually checked my credit report and credit score last month. Nothing fishy, although my credit report isn't spotless. I had a freak "accident" happen with a delinquency on a JC Penney card (very first credit card I ever had) my freshman year in college. It's a long story so I won't go into it. But since then it's been a huge pain in the @$$ getting my credit built back up, but I finally did it (last I checked it was around 690 - from sub 500). I know that isn't great, but it's slightly above average, and I've been told that the only reason I'm not over 700 is because I don't have enough credit built up. Asside from the JCP card, I've only had two credit cards. That's why I was trying to get my name on the financing for my car.

 

Good for you. The heat is off and now you can Motor with no worries.

Pat

 

now go enjoy that car of yours!!!

 

Thanks guys (and gals )... it's definitely a relief! I'll have to be motoring as much as can today... we're supposed to get an inch of ice tomorrow and Wednesday!

Thanks for all the support everyone.

 

YOU JUST GOT THE HAPPY PARADE!!!

Kinda sucky that you spent the whole weekend worrying about it... but we can't live in the past.

Now get off your butt... RUN OUT OF THAT LAB and DRIVE! (You can go back in the lab when it gets icy!)



BTW- getting your credit score built up from below 500 to 690 is quite a feat! Congrats on that big accomplishment! Isn't it weird that getting more credit can increase your score? Next goal- (after drving of course ) 720!

 

Yeah, enough with the credit talk. Go and enjoy the car.

 

Good news, Moxie Mini!! So sorry that you had to spend a full weekend worrying for nothing..... growing pains, I guess!! Happy motoring!

 

Thanks again guys!

Just found out what happened. Apparently they sent the same credit application in twice. We would have gotten approved on both of them, but MINI Financial Services kinda figured that we probably didn't want to double the financing on ONE car. So they declined the second one. So it wasn't really a mistake just MFS looking out for our best interest (no pun intended). Now to drive half an hour to go get Big Red registered! Woo Hoo!!

PS - Thanks for the happy parade!!!

 

You are very welcome!

(I even gave you a couple new ones that I've never used! ... you got the Banana Split!)

 

Great news! Enjoy the car!

 

Nice!

Where do you guys get all those???

 

I just steal them! Right click-copy-right click-paste. I have a separate window open and then choose accordingly.

OK... they're free... just trying to look bad ***. One way to find out where people get them is to right click on one and check the properties... usually tells you the site.

 

Thanks Miniola!