You will not get a loan when your only income is disability…. forget that idea immediately.
Besides… why do you think it would be cheaper to get a new car and a car loan instead of fixing the old car?

If you don’t think your boys could fix it themselves… then get an estimate from a shop, save up the money and get it fixed.

Once again really good information.

2% Off? Wow, all that trouble for 2% Eh? .. Isn’t it just better to get a lower costing automobile and polish it up just a little.. it all matters what’s inside the car.

Perhaps, but Obama isn’t begging for hand outs for the US government.

Some people don’t know how to get a good rate, and end up paying 12% APR. That happened to a dumb person I know…

i like your work, and my wife and i will soon join your site, thank you for what information you have given, this site is great!

the “welcome call” you got from Americredit was legit, and the dealer is also in the right.

The bank gave the dealer an approval on a specific dollar amount. the contract you have is for more than the approval. So Amricredit approved you for (lets say) a $24,000 loan. But your contract is for $26,000 (just and example). You have to get the otehr $2000 in order for the bank to finance you.

The dealer has every right to ask you for the $ or you have to bring the car back. All auto loans are contingent on the dealer obtaining financing. Read the back of your contract.

We get contracts signed, then work with several banks to try and get approval on the terms and conditions in the contract. Most of the time, we can do this. We work closely with a lot of banks. But, sometimes we cant. Credit is tight right now, and you are looking for a BIG over-advance. Odds are, this is the best approval call they got.

So, either pony up the $2k or give the car back. And lest you try to exact any revenge; if hte car is returned with any damage, you will be liable for that damage. Until a bank accepts the contract, you are just borrowing the car.

EDIT – as a side note, you are finding out early the consequences of rolling the negative from one car to another. Regardless of whether or not you feel the trade value was fair – it was accurate. YOU took out a loan well over the value of the car. And now you are trying to roll even MORE negative into this car. It is a blessing you don’t get this car, because you will be buried past your eyeballs if you do. You are flipping $6000 in negative equity – plus taxes and fees onto this loan. Before the ink dries, you will be over $8,000 upside down. At the end of a year, you will be well over $10,000 upside down. Do the financially responsible thing – keep your Honda, make more payments, and get financially stable before you try to get another shiny new toy.

I was looking for Auto financing….info..There is non out there.

Yes they can. You signed a disclosure or some states call it bailment. Usually they have 30 to provide a lender to you. It will say all the info in your disclosure your bailment. Banks are not open Saturday or Sunday and thats why they have them. You probably owe the money. A dream would come true if they sold your car. Check and see if your trade in vehicle loan is paid for. If it was paid off, take back the Scion and pay the fees you encountered for 3 weeks and tell them to have a nice day. You will get out of this car that you where upside down for over $4000

I agree. They cannot compete with the quality and efficiency of cars from here in Europe or Japan. This is like deja vu of what happened to the British auto industry back in the 70s. Let it die America and maybe it will give some people like Tesla a chance to start something fresh that takes the world by storm.