How many ads have you seen lately that start off with...
Good Credit? Bad Credit? No Credit? No problem!
I have always considered myself too smart to fall for those car dealership gimmics; but I too have fallen victim to the dream of having a new (or newer) car with credit as poor as mine. I should have stuck with my gut feeling that something was terribly wrong, hitting me fifteen minutes after arriving to the Toyota dealership in Milford, CT. Looking around I saw an unusual lot of potential car buyers; all with starry gazes, daydreaming of their soon-to-be new car.
As desperate as I was for a new car, I agreed to go through the all-too-time-cosuming application process, along with my fiance. Not only did we sit at Toyota for four and a half hours, but we were only offered one of two cars. Both of which I was not particularly crazy for; my fiance however was. After all the business hoopla, we finally settled on a 2005 Chevy Malibu. Now, I don't want to degrade myself by telling you how much I agreed to pay, since it was incredibly over-priced. Let's just say that my neighbor is paying considerably less for her 2007 Chevy. Prices and long wait time aside, the real kicker was that right before we left, the sales team informs us that we have yet to be approved by a bank for financing. I literally felt my heart jump up into my throat. Let me explain.
My so-called "trade in" was a 1986 Chevy Cavelier with 69 thousand miles, yes that few miles! It was however, beat up, ok that's an understatement. It had been stolen...twice; sideswiped by an old lady and plowed my a city snowplow. It was however, my baby. I had "Betsy" (oh come on; like you never named your cars!) for three years, she was given to me as a gift (before all the damage was done!) from my church when times were really tough and I was really desperate. This car had more character than most people I know. I went against my instincts and allowed her to be traded, of course they didn't bother telling me what they were giving me for her until the papers were signed. As a matter-of-fact that avoided the subject entirely. I asked questions such as "is it absolutely necessary to traid Betsy? It's not like she's worth much and how much of a trade in is she?" All they would say is that I had to get rid of her, she was old and junky and I didn't need her. As if that were their decision to make! So I gave away my baby which was literally a tear inducing moment, only to find out that should financing fall through; we'd be carless. For the record, they gave me a whole dollar for her trade in value. All I can say is what was the point? Did they really need that 1 dollar? The good ol' car salesman however guaranteed me that unless we've had a bancruptcy or foreclosure. We left confident in that thought, since neither of us have ever had those two discrepancies on our credit.
Two weeks went by, as we enjoyed are Chevy Malibu, the pain of losing my dear Betsy fading with every car ride. In those two weeks, we, like most people who have recently bought a new car, shopped around and purchased the most affordable car insurance , paid a little extra at the pump for the good stuff and my fiance washed the car every other day (ok, maybe most people don't do the last thing, but he's not like most people!). All this time, still no approval from the bank. Our temporary registration was renewed weekly with the promise that financing was coming. How surprised we were when the third time we returned to Milford Toyota for another registration renewal, that they took the keys and thus the car. Our financing was denied. Our only hope of having a car was either taking Betsy back or buying a 2007 Toyota Corrola with 500 down. At least that was their story. Upon looking at Betsy we discovered the dealership had broken the hood latch, so much for driving it home. What had really burned me was the fact that the dealership had lied to us about the renewed registration to get us to the dealership; rather than tell us the truth. They had known for a few days about our denial, but waited until we got their to tell us. Had they told us three days earlier, maybe we could have worked something out with another bank. That would take class and honesty; two things Milford Toyota doesn't have.
While I like to consider myself a patient, nonargumental person, I was in rare form that day after hearing the news. Five hours and about fifteen arguments later, my fiance and I took home a Toyota 2007 Yaris. Granted its not the car I wanted, I'm a Chevy girl, but after all the stress and drama over the past few weeks; I was just happy to be done with it.
Moral of the story, don't get conned by these so called preapproved credit extravaganzas. More importantly, if you live in Connecticut and have not-so-great credit, avoid Milford Toyota entirely! I've never had such a discusting car dealership experience. I felt backed into a corner, manipulated and lied to. Worst of all, I feel horrible for the next victims; I just hope they don't fall for big promises and false guarentees.
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