Where to start. I guess I will say that RoadLoans at first seemed like a god send to my family. My husband had lost a good paying job due to downsizing, a little over six years ago. We were at a point where we just couldn't pay our bills and feed our five kids. So we left some credit cards and a consolidation loan go.
So of course now he has found a comparable job six years later and we have horrendous credit. So we applied at RoadLoans. And got approved for $17,000. We held onto the papers for awhile, afraid to go into anymore debt.
The car we had was 9 years old and had 120,000 miles on it. So we figured let's just do this. So we did. We faxed everything in that the company required. We called them the night before we went to look at the car we were interseted in buying, just to make sure everything was in order, and we could go ahead and negotiate and purchase the car.
The woman from RoadLoans did tell us that the loan was "good to go" and all they had to do was an employment verification whenever the dealer faxed in the paperwork, and it was up to the dealer whether or not to release us the car.
So we figured that there would be no problem at all. And the employment verification was just a phone call or a fax to the employer verifying that my husband did in fact work where he said he did.
We bought the car. The dealer called RoadLoans as we sat in his office and listened, so he could then verify the check was ok to process. Those were the words he used. "Is the check ok to process and everything is ok with this loan?"
RoadLoans answered "Yes. Everything looks good." So we said goodbye to our mini van and hopped into a 2007 Durango and off we went.
Four days later the dealer calls me and says "Your loan check is no good, it didn't go through the bank."
Of course I was reeling. I called my husband at work, due to the fact that RoadLoans refused to speak with me. RoadLoans then proceeds to tell my husband that they need further verification on his paystubs that we had already faxed in.in the form of the last two months worth of cancelled pay checks from his employer. Apparently, there was a discrepancy about the amount of FICA, medical etc., taken out of my husband's check. RoadLoans even went so far as to tell my husband that his employer was not taking them out correctly.
So, at this point, we now have a car parked in our garage that isn't even ours. And this poor dealer has no clue what to do.
It took almost a week for the paperwork to go through. Thank goodnness my husband's employer was willing to go that extra mile to send and confirm that RoadLoans had received everything they asked for.
As for now, the dealer has called and said that everything is fine with the check.
RoadLoans just called 20 minutes ago, and said to me "The funding is just about to go through, we need to speak with your husband about an extended warranty and GAP coverage."
To be continued...
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