Am I going to be able to get financing? 1st time buyer? Cheated by the dealership.?

So, I went to a car dealership because my car was on its last legs, and I purchased a 2003 VW Passat, fully loaded. I live in Washington state, and I guess in WA, the dealerships have 4 days to find you financing. I inquired about this, but my financing guy told me not to worry, that I fit the bill perfectly for a first time buyer (I have good credit, had some money down, and a stable job.) Well, 4 days goes by and the dealership calls me and tells me that I have to bring the car back, because they couldn%26#039;t get me financed. Well, I was devestated. When I got there, they told me that they had got me financed for a brand new Kia (it was a Kia dealership), which sounded fishy to me because the Kia was more than the Passat. I would never buy a Kia, and left. My question is, if they couldn%26#039;t get me financed for the Passat, but instead for a Kia, if I went to the VW dealership, do you think I could get financing for a Passat?

Am I going to be able to get financing? 1st time buyer? Cheated by the dealership.?

A KIA dealership will have an easier time getting you financed on the KIA, simply because the finance institution for KIA is more aggressive on their own cars. VW finance will also be more aggressive on their cars. Go to the VW dealership and try to buy a similar used Passat, and hopefully VW will approve you. A new one would be too much money.......If that fails, go to this website to find your local credit union and join. http://www.creditunion.coop/cu_locator/i... they have very good rates and are pretty aggressive towards auto financing.

Am I going to be able to get financing? 1st time buyer? Cheated by the dealership.?

It is harder to get financed for a used car than a new one at those kinds of dealerships .. you might can get financed for a vw at the vw lot as long as you get a new one... good luck

Am I going to be able to get financing? 1st time buyer? Cheated by the dealership.?

It doesn%26#039;t sound normal. I would see what happens at the VW dealer. Also...don%26#039;t get emotional about the purchase. When you do, the dealer can take advantage of it. %26quot;I just love the car. I have to have it%26quot; is just what they want to hear.

Am I going to be able to get financing? 1st time buyer? Cheated by the dealership.?

There%26#039;s a decent chance they weren%26#039;t lying to you. Here%26#039;s what happens: the bank looks at you and you%26#039;re credit, the car%26#039;s model year (the age) and the mileage. As you may be aware, the older and higher the mileage car, the bigger the risk it is. Therefore, the bank wants a bigger downpayment, higher interest and a shorter loan length. At this point, you will see the bank judge the monthly payment and the odds of you being able to afford it.

As an example, a new Kia for $12k could be cheaper to finance (on a monthly basis) than a 5 year old $10k VW. This is because the Kia might be financed for 6 years and the VW only for 4 years.

If you want more detail, sit down with a banker or credit union loan officer. Alternatively, check out the loan calculators at www.bankrate.com. Good luck!!

Am I going to be able to get financing? 1st time buyer? Cheated by the dealership.?

I think you would be able to finance thu VW however your bank might have a better rate, so check with them first.

Am I going to be able to get financing? 1st time buyer? Cheated by the dealership.?

It%26#039;s likely the dealership had more room to work with the Kia than the used Passat. Don%26#039;t buy a Kia!

Am I going to be able to get financing? 1st time buyer? Cheated by the dealership.?

YES YOU COULD HAVE BUT THIS IS DONE ALL THE TIME AND THEY ARE JUST HOPING THAT THE CUSTOMER WILL JUST FALL FOR THIS.