CarBuyerEE
Junior Member
What is the name of your state (only U.S. law)? Maryland
My credit score:822
Financed a car at dealership through Lexus Financial Services. Drove it home the same day. Exactly one month later, Notice of Adverse Action comes in from a 3rd party credit reporting and solution company on behalf of the dealer. 1) Called Lexus and was told the dealership put in the same loan application twice so they approved one and decline the other so they think the decline of the duplicate app caused the Notice, but my loan is still good. 2) Called the dealership's manager. Was told that dealership doesn't provide the loan since they are not the bank. They merely arrange the loan. They decline everyone's loan and then send the loan to the lender which in my case is Lexus, and my loan is good. 3) Called the 3rd party company who sent the Notice, and was told that the Notice gets sent out because the dealership pulled my record. Notice gets sent out to EVERYONE, but my loan is good.
An attorney who I'll be meeting with doesn't think #2 (the statement from the dealer's manager) makes sense. Are my options, 1) Return the car which I do not mind as it accumulated 198 miles during one month and is still in good condition, and as long as the dealership doesn't charge outrageous amount for any damage they may claim they found beyond normal wear and tear. 2) Get another lender - No that's too much work and expense. I'll just buy the car elsewhere 3) Pay off the car in full
I'll be meeting with an attorney, because overall the situation doesn't seem to make sense to send me this kind of a Notice, and still telling me my loan is good. What do you think?
My credit score:822
Financed a car at dealership through Lexus Financial Services. Drove it home the same day. Exactly one month later, Notice of Adverse Action comes in from a 3rd party credit reporting and solution company on behalf of the dealer. 1) Called Lexus and was told the dealership put in the same loan application twice so they approved one and decline the other so they think the decline of the duplicate app caused the Notice, but my loan is still good. 2) Called the dealership's manager. Was told that dealership doesn't provide the loan since they are not the bank. They merely arrange the loan. They decline everyone's loan and then send the loan to the lender which in my case is Lexus, and my loan is good. 3) Called the 3rd party company who sent the Notice, and was told that the Notice gets sent out because the dealership pulled my record. Notice gets sent out to EVERYONE, but my loan is good.
An attorney who I'll be meeting with doesn't think #2 (the statement from the dealer's manager) makes sense. Are my options, 1) Return the car which I do not mind as it accumulated 198 miles during one month and is still in good condition, and as long as the dealership doesn't charge outrageous amount for any damage they may claim they found beyond normal wear and tear. 2) Get another lender - No that's too much work and expense. I'll just buy the car elsewhere 3) Pay off the car in full
I'll be meeting with an attorney, because overall the situation doesn't seem to make sense to send me this kind of a Notice, and still telling me my loan is good. What do you think?