Stephen Kia annonced that it had merged with Carbanc, of Wichita in order to guarantee financing to anyone who had $199.00 and a job for 6 months or more. They specified that it would be regaurdless of credit history and that anyone who could meet the above criteria would be approved.
We applied on a Friday night over the phone. On Saturday we were called to come in and pick out a car. We sat in the office for nearly four hours when the salesman told us that we were approved and that they were just waiting on the final interest rate from the bank and it wouldn't be available until Monday. He had us take the car and come back Monday to sign the final papers.
I asked his specifically if we were definitaly approved and is Monday we would only have to come in and pay him the $199.00 and sign the papers, he said that I was correct. I then asked him if there was any way that things would fall through and we would be denied or required to pay a higher down payment. He told me that everything was approved, with the $199.00 down and that Monday we would finish the papers, but that the car was ours.
Maonday came and went and the guy did not have an interest rate yet and told us to come back Tuesday. On Tuesday he called and said that the financing fell through and thet we needed to return the car that day.
After having the car for four days he then took it back. He made sure that we were told that we were definitly approved on Saturday so that we would take the car off the lot for the weekend and fall in love with it only to rip it from our fingers later.
When I went to return the car he said that I would be able to get the car in January, that the bank would approve us at that time, just not now.
If the company is not going to approve those who meet their advertised criteria, they shouldn't guarantee approval to those who qualify. My husband has been at his job for almost 6 years and we had $199.00 ready to give them.
Heather
Wichita, Kansas
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