I recently purchased a new Highlander from Crown Toyota of Ontario. When I purchased the car I asked for the standard 7-day option to finance through my credit union. I went to my credit union and althouh I have a perfect payment history on all of the open accounts listed on my credit report they could not offer me a better rate than the 12.5% rate toyota gave me.
The next day (five days after signing the contract) I contacted Crown Toyota and advised them that I was going to go with their financing. They said that was fine and that I should receive my payment book as well as my lender information within two weeks.
Two weeks later I got a call from a Mr. Joe Vickers (previously mentioned by another consumer on this site.) He said that my financing had not through and that I had to bring in a down payment of $1000.00 or give the car back. I was furious. I told him that he was way past the recision date on my contract. He then proceded to tell me that he had three witnesses that heard me say I had pre-approval from my credit union. (of course the witnesses are all employees of the dealership ie the salesman, the Manager, himself etc.)
I told him that he himself, as well as the general manager, both indicated to me that my credit history was very good. He then said that on paper I was days away from bankruptsy! This in itself is ridiculous. He said that if I did not bring in the thousand dollars they would repo the car and put it on my credit. I was horrified.
I asked to speak to the GM and was told that he was at a funeral. I was then passed to a Customer Service Manager (also the same as in the other woman's nightmare, who was also very condesending and rude. I talked with my husband and he said that as long as they would show that $1000.00 was applied to my balance on a new contract that we should make the down payment other than have the problems that would result from taking them to court.
I got a new contract and it has been twelve days with no word from Crown Toyota. I placed a call tonight and the "special finance manager" said that there should be no problems and that she would call me with a status on my funding. I asked her what the hold up was and she said she did not know but would look into it. Then she confirmed that the lender Joe Vickers had assigned me to was none other than Long Beach Acceptance Corp. (also celebrities on this sight).
I was worried about getting the financing of my vehicle completed. Now I am worried about the alleged unscrupulous practices of the lender that was supposedly assigned to me.
Also what happens if I get another phone call saying this funding fell through? You were so helpful to the other lady that contacted you about this same dealership. Any information you could give me would be greatly appreciated.
Jennifer
Ontario, California
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