D
DRoscoe
Guest
What is the name of your state? California
eight months ago i bought a new mitsubishi with a nine month deferred payment. they told me all i had to do was right before the nine months was up, refinance with my credit union to get a much lower interest rate. i have now tried to refinance but no one will finance the amount of the vehicle because it is no longer considered new and has depreciated greatly. i am now going to be stuck with a $650 car payment at 10.90% interest and i feel royaly screwed. I am especially frustrated because the finance guy looked me straight in the face and told me how simple it would be and that i would never even make a payment to mitsubishi. they never disclosed the fact that refinancing would be impossible. since i have not started payments yet, i want to break the contract and give the car back to the dealership but i don't know if that is possible and if it will ruin my credit. also, i don't know what kind of costs i have incurred up to this point even if they did agree to break the contract and take the car back. does anyone have any advice? what can i do?
eight months ago i bought a new mitsubishi with a nine month deferred payment. they told me all i had to do was right before the nine months was up, refinance with my credit union to get a much lower interest rate. i have now tried to refinance but no one will finance the amount of the vehicle because it is no longer considered new and has depreciated greatly. i am now going to be stuck with a $650 car payment at 10.90% interest and i feel royaly screwed. I am especially frustrated because the finance guy looked me straight in the face and told me how simple it would be and that i would never even make a payment to mitsubishi. they never disclosed the fact that refinancing would be impossible. since i have not started payments yet, i want to break the contract and give the car back to the dealership but i don't know if that is possible and if it will ruin my credit. also, i don't know what kind of costs i have incurred up to this point even if they did agree to break the contract and take the car back. does anyone have any advice? what can i do?
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