Hi everyone. New member here- wish I joined for more positive reason!
The tl;dr: Can a dealer withold tags because they approvede for a rebate I wasn’t qualified for? Signed the papers and drove off the lot and everything. Now they want me to sign a different contract and have me eat the cost of the rebate
I bought a Hyundai two weeks ago. I had a recent college grad rebate factored in. I had the rebates get signed over to the dealer so it came off the out-the-door price pre-financing. I printed my transcript on the spot and got an A-ok from the dealer and drove the car off the lot.
Next day, the dealership finance guy emails me asking for my job offer letter. I had no idea what he was taking about. I’m in a fellowship and not allowed to apply to jobs before I finish; had he asked me the day before I would have told him that, but this was the first I heard of him requiring a letter. After some back and forth, he let up and said my fellowship stipend letter should be fine, so I sent that.
I got a call from him yesterday saying that Hyundai Motor Finance (HMF) called my school and my school misreported my grad date for 2015. This apparently caused them to take a closer look at my application and they told him that without a job offer letter the rebate and special 2.39 apr was rejected, but “good news” was that he got us a lower apr, from 2.39 w HMF + rebate to 2.19 from other lender and no rebate. All we need to do is to sign a new contract with 400 added back onto the out the door price.
I called my school’s registrar’s office, my grad program, and HMF to follow up and it turns out that none of this is true- HMF never called to inquire, my rebate app is still in process, no rejection, and I was approved for 2.39. I suspect that my finance guy messed up by giving me the rebate without making sure I had an offer letter and is now trying to cover his mistake by having me eat the cost of a future rebate rejection. I think he made up some BS story about HMF to justify this new contract. He said he can’t mail us our tags until we sign this new contract, which is a big problem for us as we now live out of state and my fiancé needs the car to get to work. Our temp plates expire March 27.
My question: Can I argue that by not doing his due diligence to know the terms of the rebate before factoring it into the cost, he misrepresented the price of the car at the time of purchase and therefore THEY should eat the $400? If I get the rebate I will fulfill my end of the deal and sign it to them. But if not, they gave me that price and they should stay true to it.
Also, can they do that? Can they threaten to hold my tags in exchange for me signing a different contract?
Thanks so much for your help. First time car buyer, and it has turned into a nightmare.