From my understanding, when your credit score is checked, it decreases your score because it shows you're actively seeking credit. The next time you apply for a loan/credit card, you will have a lower score, because lenders don't like to see that you are actively seeking credit. However, like new20 said, with car loans and mortgages you are given a period of time where you can get an unlimited amount of inquires (as they are called) and they will only count as 1. These inquiries remain on your report for 2 years, but i think after 6 mos they stop affecting your score.

Another thing about the interest rate. I have read that some dealers screw people with high interest rates (like me) and then sell that debt to other banks for a portion of the profit that bank will make on the loan. I'm guessing this is what they were going to do.

baja150, i look forward to talking to you, send me an email if you can't pm me (since i'm a new member). Thanks for your concern.

 

You should call Ford customer service ASAP. I have a family friend that went through a very similiar situation with Nissan or Toyota, can't remember which. But basically same thing; dealer refused to see vehicle at their advertised price. He called the manufacturer customer service to complain, and they promptly forced the dealership's hand on the situation. The very next day he had the truck at the advertised price. Hopefully Ford will intervene accordingly.

 

If you pay off a vehicle before the third payment is due, there is a chance Ford Motor Company will make the dealer pay back the rebate they gave you that required Ford Credit financing. THAT is why they tell you "Oh Ford Credit makes you wait 3 months or there's a penalty." In reality, you can pay it off when the first statement comes in the mail (usually 20-30 days after purchase). That's the beauty of a simple interest loan (as opposed to one with an Add-On APR).

By the way I spent over a year at the second largest Ford dealer in 4 counties, and 6 months working for another one that was #2 in California. Only once did I ever see someone try to coax a customer off the ad vehicles, but in the end if they wanted the ad vehicle, that's what they got. I'd call FMC customer service and lodge a complaint against the dealer. I bet if they get enough complaints, they'd pull the franchise (shut them down).

 

Just a little update, thanks for the advice and support.

Just talked to Ford customer service, extremely disappointed. It seems as though Ford wants to just let you vent and hopes that solves the problem. The lady listened to me tell the story for about 20 minutes and acted like she couldn't believe a dealership could do that (yeah right, I'm sure she hears that stuff all the time). I asked her what was going to happen now. She said that the complaint will be sent to the dealership and Ford will take "the appropriate action if necessary". I told her that there was no way that a little letter and a slap on the wrist was going to be "the appropriate action" in this situation, because the dealership has violated at least two of the statutes of the Texas Deceptive Trade Practices and Consumer Protection Act. I told her I would be contacting the TX Attorney General and BBB.

Before I contact them I am going to give the Consumer Relations rep at the dealership a shot at fixing this, even though I know he won't, because that way I follow the AG's quidelines of contacting the business first and I can show how they did nothing to resolve it. So I'm waiting for him to call me back.

 

Usually when a dealer advertises a "price leader" most states require the dealer to include the stock number(s) or serial number(s). If Texas does not, the disclaimer you mentioned probably covers their tail.

It might be fun to have one of the local TV stations that has a consumer advocate go the dealer and try to help you get the deal you wanted. Funny what a TV camera will do.

 

Be absolutely certain you document EVERYTHING, who you talked to, when, all details matter. Take very detailed notes, and if possible record your conversations. Good luck, and let us know how it turns out.

 

1 point difference doesn't really mean anything at all because you are going on a scale of hundreds... hope this helps

 

I'm not sure if its law, but there are stock numbers on all the leaders in the Houston Chronicle.