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Need a new co-signer?


westsidecalifas707

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Anybody heard that before? I bought a 2013 Silverado used out of a Toyota dealer and I got it with 11xxx miles. immaculate truck so it turns out that it's been about a month now since I signed all the paperwork along with my uncle as a co-signer but I received a called from the salesman yesterday saying that I need a different co-signer with a better driving record now with that being said anybody have an idea of what might happen next ? If I don't find a different co-signer does that mean they take the truck back? Any help or comments are greatly appreciated

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Don't do anything till you speak with an attorney! You signed a contract and now they want to change something. This is very suspicious. If you go through with it, read all the paperwork (old and new) line by line to check for differences.

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CALL AN ATTORNEY! This sounds like one of the many scams that some dealers try to pull off. Don't wait, you may find your vehicle repossessed, possibly illegally. But once they get it it could be tough getting it back. For your own sake Call an attorney now.

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My co-signer is just there to back me up financially even though I can pay of the truck by my self I just don't have as good credit as he does . I talked to the finance director today aparantly everything is being worked out with a different bank to finance the truck

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My co-signer is just there to back me up financially even though I can pay of the truck by my self I just don't have as good credit as he does . I talked to the finance director today aparantly everything is being worked out with a different bank to finance the truck

Still sounds kind of "off" to me. Maybe you should either go find your own back to get the loan squared away or take the truck back, go to another dealer and then find your own back and so on.

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I believe this is actually a scam tactic I have read about a while back.

 

When the call you back, I have heard this is a tactic to trick you into signing a NEW/DIFFERENT loan with terms that are worse for you and better for them. They could do something like extend the loan and raise the price and just show you the same payments to make you think its the same.

 

They already have your business, so it won't harm them to screw you over now.

 

 

I have been on many sites telling people read every line. My last car loan I was a complete , blithering idiot, and let them talk to me during the signing. I got home and they and done the " paper stack & distract" to sneak in all sorts of BS extras, extra insurance, death insurance for loan, GAP, and other junk. Took me a few trips and emails and calls to get it all canceled.

 

I was chatting with it to my insurance agents about how they did it and she was blown away by how "wrong" they handled everything. Read the irony in that last sentence.

 

That said, this could be some kind of legit problem and goof they made, and they are being honest. But, its a car dealership, so.........

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Either way whatever happens if it doesn't get fixed I'm taking the truck back and getting my down payment refunded they already guaranteed that much . If they can't help me out I've been looking at a 2014 Silverado that I can get easily from a different dealer that has better financing options

Thanks for everones thoughts and insight on this it's greatly appreciated

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My co-signer is just there to back me up financially even though I can pay of the truck by my self I just don't have as good credit as he does . I talked to the finance director today aparantly everything is being worked out with a different bank to finance the truck

If you sign anything, read it very closely. If financial contracts are something new to you, bring someone to help. Stuff like this is why people call them stealerships.

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If you sign anything, read it very closely. If financial contracts are something new to you, bring someone to help. Stuff like this is why people call them stealerships.

Either way when your a first time buyer they're going to try screw you over as best as they can or at least that's what it looks like In my case
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I had a dealer call us back and had us resign papers saying that we (Wife & I) signed on the wrong lines (Primary borrower/ Secondary Borrower).....turns out they also changed my GM Warranty to some aftermarket warranty....didn't notice till I took it to a GM Dealer for work, and they wouldn't honor it.

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