I contacted Toyota of Plano through the Costco Auto Buyer Program as I was interested in buying a '07 FJ Cruiser.
I submitted credit applications for myself and my husband through the dealership website before I went in and inquired of Anwar A, the sales contact provided by Costco, if the applications were okay. He emailed me back saying that there was no reason we could not get financed. I then went in and made a deal with Anwar A, a sales manager at the dealership on a fully loaded FJ with my trade. That evening, I went in and signed the contract and they delivered the vehicle to me even though my husband had not yet signed.
The next afternoon, I get an email from Anwar A stating that they were having trouble reselling the contract to a bank due allegedly to credit issues, WHICH HE SAID WERE FINE A DAY EARLIER! I have some identity theft problems on my credit record but my husband has a 690 credit score and no debt. When my husband and I went back the next morning so he could sign his contract, Anwar and the finance manager claimed that they could not sell the note at all unless we paid more money down than the original deal.
Additionally, the price deal I made was for X dollars and the dealership wrote the contract up to include X dollars PLUS a $4,000 (extended warranty), additional "gap" insurance and other charges to try and add money for the dealership above and beyond what I had agreed to. The man who had me sign papers did not give me a chance to read them and did not give me a copy of what I had signed, which is a Truth In Lending Act violation.
We ended up having to return the car to Toyota of Plano because we would not put more money down after a deal had already been made (we easily could have but at this point, we were sick of these dishonest people and just wanted to leave). It was a humiliating experience which I would not wish on anyone. This is a dealership and these are individuals to avoid at ALL cost. I am contacting a consumer attorney on Monday to possibly file suit against them.
And lest you all think we're deadbeats, we have an income of well over $100K per year. My husband has a 690 credit score (it would be higher but he never uses credit and has a very short record). I have erroneous information on my record which is under dispute. We have no debt. There is no reason on earth to have rejected us for car financing.
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