messed up auto loan

[pvcik]

The loan has not hit my credit yet it's been over a month and a half now and it's radio silence from Westlake they haven't even called about the past due payment (i literally can't pay them bc there's no acc to pay on) 

[Shooting-For-800]

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@youngandcreditwrthy wrote:

@Shooting-For-800  BRO NO

you think fraud should be "lesson learned" to the consumer? 

what in the upside clown world do you live in?

the lesson the op learned is a good one.. READ THE PAPERWORK.. the lesson is.. CALL OUT THE DEALER.. THE DEALER MARKED UP THE BUY RATE. 

the DEALER will get that extra 3%.

Westlake is Carmax if I recall correctly... oh wait I think its carvana...

carvana is DRIVETIME..

DRIVETIME.. has been involved in fraud and the garcia family runs BOTH. 

LOOK IT UP. The lesson the op should be learning is not to buy cars from them EVER. 

I pray to the good lord the op gets the rate corrected or disputes the downpayment for fraudulent practices and gets their money back.

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You are entitled to your opinion and I am entitled to mine.

I clearly told her to call the bank.

She did not buy the car locally.

She will not get all her money back.

The difference between 17% and 20% is not that much.

I clearly told her look for refinancing options.

She is not in position to make demands.

Just because reality sucks, does not mean it is not reality.

It is assumed that she likes the car.

Yes, education is expensive.

[youngandcreditwrthy]

@pvcik unfortunately this is what they are known for.

I would freeze all your credit reports and put fraud alerts on them for free on each of the three major website transunion equifax and experian.

because if something goes awry and you give the car back due to their shady practices, they will absolutely report the delinquency.

its truly not uncommon for lenders to report new accounts 6-8 weeks later, but that doesn't mean it is not a bad practice because it is.

capital one takes on average 3 months to report my last two cars I opened with them LOL

[dunn2500]

in 2019 I had no credit and bought a brand new truck... they did same thing, jumped it from 10% to 17%...they do it all the time to sub prime, since I didnt have bad credit, I paid on it for 5 months and refinanced it for 7% then sold it and bought a bunch more for 2-5%......interest rates were low back then

but yeah you can sign the new deal or give the car back....call the bank and see what they say, it cant hurt and is the wise thing regardless....it will take along time to get your money back ....I was absolutley Livid at myself when it happened to me, for putting myself in that situation.....I did learn though, I have not had this issue since

they do what they do in that business, its our responsiility to navigate accordingly...

Carvana, CarMax, small dealers are the worst....