Hey folks,
Today I write this post with a bit of heavy on my heart. I've posted in other threads that I've ordered a truck 09 crew fully loaded. Well that was too early of a post.
Today I found that a person who wanted to by my truck 08 1500 Mega Cab did not get approved by Chrysler Canada. SO, I will have to call my dealer on Monday and cancel my new, so long awaited Dodge Ram 1500 2009.

What's said about this, is that the guy who got declined has got a good credit history, been in business for a long time, just as a business owner does not claim all of his income as personal on taxes. Chrysler being extra careful, decided that he is a bad prospect and told him off, I mean give me a brake he is applying for lease take over for like 600 a month for 14 months.

So now they're gonna lose me as a cash deal.

So said. I really wanted that truck. Chrysler really needs people like myself, and because of some paper pusher, it's all gonna fall apart.
So long my truck.....:: (

 

Sounds like your buyer is a tool with bad credit, with a over 700 credit score they would of hooked him up with an over 720 scroe he could of picked his lender! Any one can manage a 700 score.

So I say dont blame Chrysler.

 

oh damn man, im sorry to hear that. i hope something else works out for you

 

Sorry you lost out. There is always two sides to a story.
Having a good credit rating or history does not mean you automatically are going to get a loan. You can have a good credit rating and be at your max in debt to income ratio. This would make addition loans difficult to obtain.

In my experience you would take a loss by selling an 08. Depreciation hits as soon as you drive off the lot. Keep the 08 and enjoy it for a few years. Save yourself some money.

 

Most credit lenders are tight right now. If he really has good credit he can get the $$ from somewhere. Chrysler is not the only game in town.

 

Some people's idea of good credit history is the "new" standard, unfortunatley. Most financing is just back to how it used to be., of should be. 1 year ago when I bought the wife her minivan (notice the clarification in the wifes ), I had an average score in the mid 700's and have had good established credit for over 10 years. I qualified for damn near anything I wanted! Now the score is the same, I make more money, paid some stuff off and still qualified but for not as much, like certain interest rates and terms would only go out so far. And this was everywhere, my credit union I have my mortage with, the two banks I use for checking and savings, and Chrysler. Chrysler was actually one of the lowest rates and loan term length! AND I got the rebates. And yes, I did the research on the rates not the finance guy at the dealer. Bottom line ALL banks are being more strict or should I say financing how they should be.

 

Sorry.. your wrong on this one!

Chrysler dragged me over the coals with a 720 FICO. No late payments ever. Financed many many cars and many of them Chrysler's, including the 07 Ram I was in. They denied me at first and the dealer could not believe it so the owner called Chrysler Financial and talked to the right person who approved the deal at 48 months 0%.

Obviously, the owner of a dealership can get a hold of the right people but it was explained that Chrysler has their own internal scoring system and according to that system I was not approved. Never really received a full explanation and did not care once I was approved a day later but not everyone is going to have a dealer who goes to bat for them.

I purchased several cars from this dealer and sent them many referals. They were just as mad as me that I was not approved in the first place.

Not saying this is true for everyone who is denied credit, but dont think in this current financial meltdown that people that get denied are deadbeats.

I have received in the mail credit line increases on some of my cards and had other companies send me a letter stating that they are closing my accounts even though I paid as agreed and am in good standing.

Some companies are just panicking and the couple of accounts that got closed were special finance offers I paid off on time.

No normalcy in the current market conditions.

 

Thank you folks for all of your replies.
I can always just buy the 09, but on the other hand, I can wait. It was just a perfect set of event for me, this guy wants to take over by lease, I want to buy a new 09. I have money at the bank, he claims to have a good credit etc. But you're right, who knows about his.
One thing I will do is call the owner of the dealership and tell him to call Chrysler and talk to them about losing me as a cash buyer for new 09. I don't know if this will help, most likely not, but I feel it should be done.
Anyways, I hope you guys enjoy your trucks and as I said before, we'll keep buying American and keep our countries going!!!

 

Well that leaves me with some hope. This dealer OWES me BIG time. So I may just drive to them on Saturday and have a chat with the owner. If he can pull some strings next week and this guy take over my lease, you guys are gonna see one happy owner of while two tone FULLY and I do mean FULLY loaded RAM.
If not, then later, one way or the other, I'm not gonna go and buy Toyota and send my money to the other country while we're in sh**.

 

Well Im just going off what I have seen of my freinds and I who have gotten new truck and cars in the last 6 months so I would have to say Im not wrong, and I would bet his buyer is in the 600s for his credit score!

Oh and me using the work "tool" might have been a little harsh my bad, but I still dont thing you should run around blaming the lenders if you dont have the score to get a loan.