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Issue with dealership/FOMOCO

Old Jul 21, 2008 | 09:17 AM
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Issue with dealership/FOMOCO

So i bought the truck on the 10th of this month, they call on the 19th and say that my contract i signed is null and void and i have to come sign a new contract with a full percent higher interest rate. Dealership says FOMOCO wouldnt let them give me the rate they quoted me at and i signed for. They even want to come pick the truck up if I dont come sign the new contract today?!?! FWIW, the interest rate is 6.75 for 72 (took rebates instead of 0.0 percent). They want 7.75, and i told the guy they were pushing it to begin with 6.75. I might just let them have the truck back and look elsewhere. Any opinions or things i should be informed with? My Credit Score is 700 when i signed the contract and am well off enough to pay off my debts and assume this loan, so what reason am i being ****ed?
 
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Old Jul 21, 2008 | 09:33 AM
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Let them have the truck back, what a bunch of A holes....
 
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Old Jul 21, 2008 | 09:44 AM
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i would be getting an attorney.... if you agreed on the purchase price of the vehicle and they did as well. and its on paper and signed then legally they cant change that. unless they had some clause in the papers that say so. and if they came after my truck and i have the papers that show i bought the vehicle for a certain price and i have made my payments. un lawful seizure comes to mind. i guess its up to you if you want to deal with it or roll over.
 
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Old Jul 21, 2008 | 09:47 AM
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You would think as poorly as they are doing in sales they wouldnt let this crap go on. I guess they would rather have the truck sit on the lot.
 
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Old Jul 21, 2008 | 09:48 AM
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There was a clause paper that was signed, but that also means that i have no obligation to sign their paper today. Which means i get to go truck shopping again i guess.
 
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Old Jul 21, 2008 | 10:06 AM
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You have a signed contract that agrees to the 6.75% rate. Tell them to go eat a horse's *** and that they can contact your lawyer if they have any other questions. If they do take your truck, it will be theft.
 
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Old Jul 21, 2008 | 10:08 AM
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If anybody pulled that BS with me, they can have the truck back & refund every dime of my money..........what BS salesperson sold you this unit?............
 
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Old Jul 21, 2008 | 10:15 AM
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after getting on the phone with the sales manager and telling him i was going to just turn the truck in, he says i can sign the new contract and the dealership will just absorb the extra finance percentage and push my first payment date back 11 days. I dont think he thought i would actually just let them have the truck back. Also, to not put Ford in too bad of a light, the Chevy dealership bought the Ford Place, so in reality im dealing with Chevy Managers.
 
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Old Jul 21, 2008 | 10:18 AM
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From: Burleson/Athens/Brownsboro, TX
Originally Posted by bluehosefb90
after getting on the phone with the sales manager and telling him i was going to just turn the truck in, he says i can sign the new contract and the dealership will just absorb the extra finance percentage and push my first payment date back 11 days. I dont think he thought i would actually just let them have the truck back. Also, to not put Ford in too bad of a light, the Chevy dealership bought the Ford Place, so in reality im dealing with Chevy Managers.
Now there is a big surprise!
 
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