Lender changes rate AFTER we agree upon a price

[georgiagator]

So I agreed upon a rate yesterday on a brand new triton 17tx, my first boat purchase. This dealership handles their own financing..

anyways we agreed on a rate, I bought a new hitch to tow the boat, I purchased my insurance, I was ready to pick it up tomorrow at 3pm

he calls me today and said they made a mistake And my interest rate will go up over a full percent, and now my payments are up about 12%.. essentially costing me nearly 4k extra on a 25k boat

he then tried to sell me on dropping the warranty..

so now I have the option to pay more per month, and go from an 8 year to a 3 year warranty..

what the crap.. now my credit karma is blowing me up with alerts because they are trying to find another lender..

[fishin couillon]

Can you make him stick to what yall agreed on? Any where else you can look? Don't cave if you haven't signed the papers. You can always cancel insurance and return the hitch......signed papers and you can't return a boat as easy....

[Transom]

Walk away.

[georgiagator]

I told him, original monthly payment with original down payment with original agreed upon warranty or no deal. I’m not budging.

the sale price of the boat was pretty good (21k) but I wasn’t getting an amazing interest rate to begin with so I’m not going to accept a legitimately bad one or a warranty that dies early in the finance term

[bassnman81]

Walk, sounds like a bait and switch.

[printman71]

Sorry for your issues, I know how excited you were.
Things happen for a reason. Walk away from this one.

[BigFishSteve]

That’s exactly how they get the money back for the good price. Not uncommon at all. The only thing they understand is “no thanks”

ans sadly, even if they cave, can you trust them with anything else? Service? Warranty? Filing the paperwork on your extended warranty? Telling you you are getting Platimun and find out you didn’t.

Sorry,, you have to walk away.

[210SP]

They are not someone I'd trust. There are other deals out there without scam tactics. Don't just walk away, run!

[ameneddie]

Stick to original deal or walk

[barbarian]

As the others have said. Don’t give in. Matter of fact check around yourself for a loan. Your bank, rec lending, etc. You’ll find out quick if they honestly made a mistake or not.

[CatFan]

If your payment went up 12% with a 1% rate increase, the dealer isn’t good at math.

[alli ss]

They was hoping youd cave in getting hooked on it and getting insurance and all. I wouldnt even talk to them and lock your credit down so they dont keep checking it. If they finance in house they didnt make a mistake.

[Skunked again]

Don't do it. As said above, the trust factor is now lost. No way they'd be trusted for anything in the future. Warranty, work, etc.

[th365thli]

As a person who also had a terrible dealer experience, I think we need to start putting these dealers on blast. I understand witch hunts aren't a great idea most of the time, but people oughta know if they're dealing with dishonest people.

[itsahog]

Don’t walk away... run away

[billnorman1]

Did you get anything on paper? Interest payments are predicated on credit reports. Was that caveat in the paperwork? Verbal and handshakes are pretty worthless in court, this ain't the Wild Wild West.

[Crappie Bob]

Been there! RUN FORREST RUN!

[Ben Danbleume]

I'd have had a new truck that matched my boat, but the dealer pulled something similar, when I went to pick up the truck.

[plbass]

If they won't honor the original deal then move on. Not worth the hassle later on down the road.

[BASS2277]

Run Hide