I purchased a 2004 Trailblazer from a dealership locally. (not Bill Heard!) The dealership was upfront with me from the beginning. I know that because I know the salesmen. My situation starts like this. I am a 34 y/o widow with 2 children. I have a house financed with one lender and have it up for sale. I recently built my dreamhouse. It is financed with a different lender. I had to file bankruptcy last year and believe it or not I got a really good interest rate on my new house.
Because of my bankruptcy though I had to go through Americredit for financing even though my 2003 vehicle is financed at 7% through the credit union but that is another story. I have had this trailblazer for almost 30 days now and I get a phone call from the dealership saying that they need paperwork stating that my old house is going to be sold and the mortgage paid off. My lender and I both told them that the house is vacant and I am refi the note to get a lower payment until I sell it. The closing is not for 3 weeks. I have already tagged this vehicle and have application for title. The dealership had a verified approval from Americredit when I signed the contract.
Ah, the catch. My new mortgage did not show on my credit report yet but I disclosed it on my application and the dealership said that when they pulled my credit it showed a zero balance on my old mortgage. He looked at the wrong one. That was my equity line zeroed out. Americredit says now that they will not do the loan which leaves me without financing. I told the dealership to have my check ready because I will be there in the morning with the truck. Also keep in mind part of my down payment was made with my AMERICAN EXPRESS REWARDS GOLD CARD!!! I have good credit... Not great but enough to finance a $151,000 house and hold an $82,000 on the old one. Go figure.
So tomorrow I will be at the dealership with bells on and 2 sets of keys for the truck. Watch out for Americredit. They will screw you everytime. I am just getting out before they go deep per my attorney's advice.
0 comments