My fiance and I purchased a new truck from Harrelson Toyota. We were very impressed at first with how well they handeled us and how eager they were to help us. After waiting a couple hours to get into the financing office we were eventually helped. We were both shown our credit reports and told that we were approved to be financed through a company at such and such rate. We then started signing the bill of sale, paperwork stating they are buying my trade in from me at such and such price, GAP insurance papers, basically all the paperwork you sign when finishing the deal. We were told who we were financed through, what our rate % was, what our monthly payment was, and the due date.
We asked if we can check our credit association to see if we can get a better rate. The finance manager informed us that was fine, until then we are still covered by the finance company we just signed a contract with, if we get approved within 5 business days from our credit association then we would make the necessary changes. The credit association could not help so we just stayed where we were.
One week later we got a call from Harrelson saying that the finance company we signed for has now said they can not approve our credit and we have to either sign with another financing company at a much high interest rate or turn in the new truck. Why did we sign all those contracts if we were not approved? Did Harrelson make a mistake and now expect us to make up for it. NO! We had a deal and it has been signed on legal documents. They now are trying to tell us if we don not turn in the truck they will report it stolen! Harrelson Toyota needs to learn how to do their jobs and not sign someone to a contract if they are not approved. We plan to fight this until the end.
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