Is the car dealership trying to screw me?

[Porsche]

Originally Posted by revil

I went to the dealership and they admitted fault and will move the loan over to my bank at no cost to me. Yay! Still furious they did a bait and switch on my loan though.

I understand your concerns.

But, have you suffered some kind of loss here? If so, I missed that part.

You are wise to be suspicious, and I commend you for your zeal. I encourage suspicion; it's smart business.

But, sometimes these things happen for innocent reasons. For instance, many loans are approved at your dealer without actually talking to the bank where they are placing your loan. The dealer may learn the next day, that the bank with whom they placed your loan paper, declines the loan.

Well, you drove off in your new car last night!

Sometimes the dealer will repossess that car.

Mostly, they just find another institution that will accept your loan at the terms you negotiated with the dealer.

This is normal.

Although, a phone call to YOU to explain what was happening would be nice, wouldn't it?

So, fill us in...

Regardless of who your loan is now with, do you have the rate and terms that you originally negotiated?

Everything's good?

[Tromatic]

Originally Posted by revil

I went to the dealership and they admitted fault and will move the loan over to my bank at no cost to me. Yay! Still furious they did a bait and switch on my loan though.

It may be that whoever did the loan saw that you had already been approved by your bank and went from there. No need to assume some sort of nefarious plot. Car dealers shop banks for the best deals, just like everyone else.