New car Approved and denied

  • Last Updated:
  • Aug 23rd, 2019 9:35 am
Aug 22, 2019
1 posts

New car Approved and denied

Hello i am wondering if i could get some help

I went to a dealership saw a SUV, liked it sighed papers and left $500. they did a credit check the next day and i told them i want the same bank i was dealing with from my other car before it had been written off last month. It was a $40,000 loan, i have a medical condition that labels me as a disabled person, and i have told them that and i get a low income. we had a dispute over the price and i ask the wife if that's what she wanted so we sighed. the following day i called and told them i cant take the car because my health comes first and would like to back out. So i called back again and told him we will take it, while was talking he told me i was approved but there are issues. I ask him whats the issues and he told me the bank wants $8,000 down. I said i don`t have that kinda money,. I headed back to the dealership and explain to him my wife was was pissed and for me to get my deposit back, I sat down and talked to the finance manager and told him what is going on, that my wife was throwing stuff at me and told me not to come back without the $500. I told the finance manager i don`t have $8,000 and that i wanted to stay with my current finance bank. I got my $500 deposit back and when i got home some high manager called me and said i was Approve and to come back. I said i got my deposit and would talk to the wife, she told me not to call back and found another car elsewhere. i did see someone drop a paper saying void void into my folder.

Am I in the free or i have the car? thanks
1 reply
Deal Expert
Jan 15, 2006
18420 posts
Richmond Hill
I can tell you that the only way one gets denied or needs sub-prime auto loans are those with bad credit...

The job of the business/finance manager is to get loans approved to close the deal and trust me they will walk a fine line to get it done.