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Were you denied a loan from the same institution that issued the first one? I can't imagine a credit union turning down the same customer they just approved bec
by intopieces 8y ago
Were you denied a loan from the same institution that issued the first one? I can't imagine a credit union turning down the same customer they just approved because 'computer says no.'
I'm not sure that Tesla is saying you can't test drive it. There are other ways to evangelize the car and let people test drive it, ones that don't involve massive rents in premium retail spaces. Toyota brings the Mirai to my local Farmers Market, for example.
They could easily organize such events for the Teslas.
- sjg007 8y agoProbably did manufacturer financing.
- BoorishBears 8y agoThe first loaner confirmed they couldn’t even process a new loan while the old one was in limbo. They even put my case in for special review and apparently part of the wait was ensuring the check wasn’t being used. I even tried going with a different finance company to secure the exact car I wanted (it was an excellent offer I had driven the dealer to) and they came back with a flat no.
- FireBeyond 8y agoHuh, interesting. My Credit Union was willing to finance a loan for a new vehicle while waiting for any documentation that the existing auto loan was totalled. They just said "Make sure that you have the settlement check to us within 60 days, please", and that I paid off the remaining $1,200 "in a timely manner".
- wil421 8y agoI can confirm the same. Had 16k loan that was being paid by Liberty Mutual due to their driver totalling my car. Check was in flight and my Credit Union processed close to a $30k loan for a new car.
- BoorishBears 8y agoI’m guessing it’s different in the case where the check has already been cashed and the loan has been secured (ie. they have a title) In my case they hadn’t secured the loan yet. I doubt they’d be so flexible even if the car had been totaled as I drove it off the lot without the loan being secured.