[Sarah27]

March 26th I drove off a Hyundai lot with a brand new Hyundai Elantra. I was told I had been approved through Capital One Auto Finance. While waiting for my payment book to arrive, I received a letter in the mail from Capital stating I was turned down with the list of reasons. I went and looked at the paper work and saw that I was being financed through CPS Inc. Irvine California. A week went by and I still hadn't received anything from this company. Just yesterday I received a call from the dealership telling me that I had been turned down through CPS and if he couldn't get me approved with someone else they would take the car back. I had traded in a car to get this present car. :mad: The finance specialist said he would continue trying other banks. This is my 15th (business) day with my car. I spoke with him again today and he told me that it's not looking good, unless I can get another co-signer instead of my husband. I'm really at a loss for words. I've tried looking up information on the internet and I'm not getting anywhere.

The part that angers me the most is while sitting with the salesman, he asked how long I had been employed with my job, my husband stated 4 or 5 months. Come to find out the biggest reason for CPS turning me down was because he put it in the wrong box, and it listed 5 years. So because of an error on their part, I have to suffer?:mad:

[Fr_Chuck]

What does the loan papers you signed say, what does the bill of sale say.

You need to take the paperwork by an attorney for review. This is happening more and more for some reason, but you should have a copy of a actual loan document signed before leaving the dealer

[ScottGem]

The last time I bought a car (at least 3 years ago) they wouldn't let us out of the lot until the loan had been approved. I can't understand why a dealership would do that. I don't think it is illegal, but it does smack of some shady practices. I would check with your state DMV and see if they can recommend something.