Check this out.
Purchased my GTO two weeks ago today. Traded on 04 Jeep Rubicon. Since the two weeks have passed, I have been to the dealer twice. One, the GTO signal lights and reverse lights were not working. Two, to pick up my license plate and registration sticker.
Anyway, received a call from the finance guy at the dealership today. Originally, had a drive out of around 31k (including trade, was upside down in trade) and 60 months 0% financing for pmt of 510. The finance guy stated that they had made a mistake. GMAC was not offering 0% on the GTO. Only 2.9% for 60 months. He wants me to come back in and correct the contract.
He stated GMAC kicked back the financing since the dealer messed up.
Now, the original contract has of course already been signed. My trade payoff amount has been paid. My trade has already been sold by the dealership. And the vehicle is already in my name w/ GMAC showing as the leinholder.
My wife is a loan officer for a credit union that does outside lending for many dealership. (not this one) She says that since the contract was already signed and the vehicle is already registered in my name there is nothing the dealership can do to force my to redo the contract. They are going to have to eat the mistake. They asked me to come in thinking that if I didn't know better, I would sign a different contract, therefore voiding the first one.
My wife says that dealers screw consumers so much and would never let a customer out of a contract once it has been signed. I agree with this.
I told the finance guy at the dealer the only way I would come down is if they agree to correct the problem with no change to the payment on length of loan. They will just have to come down on the original price to correct the
problem. The finance guy said he would call me back but hasn't yet.
Is this the right thing to do. Any suggestions?
Purchased my GTO two weeks ago today. Traded on 04 Jeep Rubicon. Since the two weeks have passed, I have been to the dealer twice. One, the GTO signal lights and reverse lights were not working. Two, to pick up my license plate and registration sticker.
Anyway, received a call from the finance guy at the dealership today. Originally, had a drive out of around 31k (including trade, was upside down in trade) and 60 months 0% financing for pmt of 510. The finance guy stated that they had made a mistake. GMAC was not offering 0% on the GTO. Only 2.9% for 60 months. He wants me to come back in and correct the contract.
He stated GMAC kicked back the financing since the dealer messed up.
Now, the original contract has of course already been signed. My trade payoff amount has been paid. My trade has already been sold by the dealership. And the vehicle is already in my name w/ GMAC showing as the leinholder.
My wife is a loan officer for a credit union that does outside lending for many dealership. (not this one) She says that since the contract was already signed and the vehicle is already registered in my name there is nothing the dealership can do to force my to redo the contract. They are going to have to eat the mistake. They asked me to come in thinking that if I didn't know better, I would sign a different contract, therefore voiding the first one.
My wife says that dealers screw consumers so much and would never let a customer out of a contract once it has been signed. I agree with this.
I told the finance guy at the dealer the only way I would come down is if they agree to correct the problem with no change to the payment on length of loan. They will just have to come down on the original price to correct the
problem. The finance guy said he would call me back but hasn't yet.
Is this the right thing to do. Any suggestions?