I filled out an online credit application through a damaged credit/credit repair lender. The next day, I received a call stating that I had been approved for 100% financing up to $25,000 - that I just needed to come in and show proof of income, identity & residency. I specifically asked if this was a pre-approval, or an actual approval - and she said that I was approved. The next day, my husband went to the lot and brought them everything she had requested. After getting asked for his information to add him to the loan (which we didn't want to do, as I am trying to build some credit up).. they finally told him that the only program that I qualified for was a 3-6 month in-house finance loan. When this was questioned, the salesman went to his manager - and they said that was all they could do. Why would you tell someone that they are approved for 100% financing and waste everyones time if that weren't the real deal. This seems like a sneaky way to make a lot of interest $ off of an inhouse loan on a less than desired vehicle.
Cons: Misleading
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