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So, 29 days since taking delivery, I discover they "cannot extend vehicle financing at this time"??

Discussion in 'Gen 1 Prius Plug-in 2012-2015' started by lensovet, Oct 29, 2012.

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  1. lensovet

    lensovet former BP Brigade 207

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    Alright, false alarm.
    Today I called into the TFS customer service center, put in my SSN and ZIP, and finally got account info. The next payment is due as expected and the monthly payment matches the contract. I was able to get my account number and I just completed signing up for TFS online!
     
    #41 lensovet, Oct 30, 2012
    rogerv, SageBrush and John Hatchett like this.
  2. John H

    John H Senior Member

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    Congratulations on the new PiP.
     
    #42 John H, Oct 30, 2012
  3. lensovet

    lensovet former BP Brigade 207

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    Thanks, and thanks for your advice :)
     
    #43 lensovet, Oct 30, 2012
  4. terpsmandan

    terpsmandan Member

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    If for any reason, the submitted deal was declined by a lending institution, by law, they must send you an adverse action notice, even if you are approved at another lending institution. The dealer would not have let a car go without having it approved. I work in F&I for a Toyota dealer and I even have 720 plus credit declined for proof of residency because of something called a "Red Flag" and that is part of the Patriot Act. So if the dealership hasn't contacted you about this, you probably have nothing to worry about. Did you get any documentation the bank about your payments?
     
    #44 terpsmandan, Oct 30, 2012
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  5. lensovet

    lensovet former BP Brigade 207

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    See my latest post :) looks like because the erroneous contract was cancelled, I got this letter.
     
    #45 lensovet, Oct 30, 2012
  6. terpsmandan

    terpsmandan Member

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    That is crap. For some reason they could not get the first contract cashed and had to come up with a good reason to get you back into the dealership. Here is NY, legally the contract is between you and the dealer and the dealer assigns the contact to the lending institution. If the bank for some reason cannot accept the contract, the dealer is is obligated to honor the contract and there is nothing they can do to force a re-sign.
     
    #46 terpsmandan, Oct 30, 2012
  7. terpsmandan

    terpsmandan Member

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    That is true as of last year.
     
    #47 terpsmandan, Oct 30, 2012
  8. wjtracy

    wjtracy Senior Member

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    ....I am happy this is now resolved successfully, I think I am following??
    Now everyone can progress happily with PiP deals by Nov 5 deal deadline?
     
    #48 wjtracy, Oct 30, 2012
  9. lensovet

    lensovet former BP Brigade 207

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    haha yes!
     
    #49 lensovet, Oct 30, 2012
  10. Rebound

    Rebound Senior Member

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    Excellent!! TFS is super-easy to work with. They are a great lender to have... Really good customer service.

    We should meet up some time. I'm in alameda.
     
    #50 Rebound, Oct 31, 2012
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