Auto Loan Approval

Hi Everyone, I am posting this message in hope of getting your reaction to it. I applied for an auto loan on the internet and a few days later I received a call from a representative of a car dealer who said that my application was passed on to them. She began to ask me question concrning of my loan application, and we discuss other things as well, and she stated that she would pull my credit report and get back to me. A couple hours later she called and gave me some answers to what we had previously spoke about as well as my credit report and she finally stated that I needed a Co-Signer. I let her know from the get go that I could not get a Co-Signer. She stated that I had to have a Co-Signer if I wanted her company to give me a car. So I thanked her for her call and told her we could not do business because I could not get a Co-Signer. Well, you can imagine my surprise when 3 days letter I received the following approval letter in the mail which states as follows:

Dear Customer

Thank yoou for calling the credit hot-line. Based on the information you given us .....You are at the final stages of approval for a new or pre owned vehicle,

Your authorization number is (BD and gave number which I won't print here), in the amount of $21,9999.

All you have to do now is to give me a call (gave telephone number to call) and ask for (gave name of person who I talked to in the beginnin). Letter went on to state: Your name is on file, and the process will go very fast and soon you will be driving your vechicle home. We have a large selection of luxury, sports, family, suv and mini vans. So call now and make your appointment, all you need is a drivers license, home phone bill, current pay stub and lets get you on the road.

Thank you,
Loan Manager

Please bring the following
Driver's License
Current Paystub
Home phone bill (in you r name or not)

Please bring this letter with you for an additional discount of $500.00 dollars.

The next day after receiving letter I called and spoke with person named in letter and she confirmed indeed that I had been approved and setup an appoint for me for that evening to come in and pick out a car as well as to bring the documents requested in letter.

When I got there the person took my documents and made copies of them. She then stated that even though I was filed in their computer they needed to have a paper trail as well and she gave me an application form to fill out as well as a reference sheet. She then asked me a couple of questions in which I answered, and then asked was I ready to take the car home that evening and natually I said yes. She step out of the office saying she would be right back. She comes back with this guy who she introduces as the Loan Manager whom I never remembered his name. He immediately starts saying that because my credit was bad that they could not give me a car. I said to him that my credit was bad from the get go and that is why I went on the Internet site which stated auto loans for people with bad credit and filled out the auto loan application. I also stated to him that the signs on their windows state: Good Credit, No Credit, Bad Credit - No Problem. On their door it states You Work - You Drive, so how come now I being denied credit because of bad credit. He then stated well its not only because you have bad credit but you don't have current credit. I reminded him of what his advertisement said about No Credit. He them became angry and said you need a Co-Signer. I told him they knew from the get go that I did not have anyone who could Co-Sign for me. I also brought up about the approval letter. He said this wasn't an approval letter but a pre-approved letter. I told him there wasn't anything written in this letter about pre-approved. He insisted I had to have a Co-Signer and there wasn't anything further to talk about. I left and let him know I was going to contact an Attorney.

The next day I decided to call back and speak to the General Manager who wasn't in at the time, but I left a message asking him to call back. However, a few hours later he called me back and I explained to him as to what happen. He told me he was going to look at a copy of my letter and get back to me right away. Well he never called me back that day. Therefore , the next day I called and left another message for him to call me. A couple hours later he called back and stated that they had made a mistake in sending me that letter because I had never been approved for loan and he apologise for the mistake. I asked him how could this be a mistake when the person I called to set up appointment said that yes I had been approved, and why would she have me fill out an application form as well as reference sheet. He said he didn't know why she did that but once again he apologize but I had not been approved for loan. I was so angry that I told him I was going to file a complaint with their Attorney General's office and told him goodbye and hung up.

I'm sorry for the long message but I want to know what you all thing about this situation. Please answer ASAP. Thanks!

 

Thanks begntexs for responding! I do intend to contact the AC's Office. The Automaker is Hyundai. I've been on the internet trying to get President's name. Also, I've tried looking under Automakers to get an address and can't find anything listing an address. Do you know the exact name of Automakers? Yes I intend to take this to the fullest. I could go along with this being a mistake if they had said so in the beginning, but for her to confirm letter, and have me come in and give my personal information by filling out application form as well as reference sheet, I view as no mistake.
Once again Thanks for the information.

 

ppt3, there were no * in the letter. Thats the first thing I looked for to see if there were a catch. That's what made me call and when she confirmed it and set up appointment for that evening, I was elated. The letter reads exactly as I had typed it in my message.

Now I am dealing with another car dealer in which I was approved for a loan, but not for the car I picked out. It seems they went ahead and had me approved for the wrong car. I applied for a mini-van (6 cylinder), they had me approve for a 4-door sedan (4 cylinder). They picked 4-door Sedan and had them put it on my Insurance policy, with a different lender. Not the lender who approved my loan. I let them know that I wasn't going to take a car that I never seen, and I didn't want a car I wanted a mini-van. Now they are having a hard time trying to get me approved for the mini-van. Now I'm beginning doubt if I will ever get a mini-van because of their negligence.

It looks bad for me all around.