I would have phrased it differently, but this is correct, since you didn’t apply for credit directly with TFS, but rather with the dealer (who was authorized to check TFS and any other institution[s] of their choosing on your behalf).
The dealer cannot give you their copy of the credit report they purchased, per the terms of their subscriber agreement with their credit data provider (that doesn’t mean that some dealers won’t anyway, but it sounds like this one prioritizes compliance, as they should).
Since you weren’t offered the terms for which you applied, you will receive an adverse action letter in the mail explaining the reasons, and the letter will contain instructions on how to obtain a consumer version of your credit file to review for accuracy.
You can check your own credit files for free at https://www.annualcreditreport.com. Despite the name, you can get a copy from each bureau as often as weekly.
If you haven’t in a while (or ever), I’d suggest filling out the PDF that’s available on that site and requesting your credit files by mail. The “printed” versions of your reports contain the most detailed snapshop of what the bureaus have on file. And no, Kredit Kamra isn’t good enough.
I wouldn’t pay a single cent for that mileage. Stop asking them what it will cost and tell them what you pay ($0 for mileage). They took the risk in a spot delivery and the terms changed. It is up to you if you want to resign at less favorable terms. If you don’t, arrange a time to return the car and get a FULL refund of your down payment.
Thanks man, that a long reply, but really helpful.
I still did not get any letter, email from the lender about my applications and days ago, I do got some reject letter from Benz, for trying to leasing a 48000 car.
so this is really confusing, I never got any notice from the credit staffs cause that store, and I got credit score drop yesterday when they trying to run my credit the second time, I really doubt, whether they actually runs my credit when I first come to the store.
thanks! buddy!
yes, that is what I’m doing now, I email the manager and the manager told me I can not return the car. but the finance guy told me I need to pay for the milage on the car. I will look up for the terms on this situation, will really hate to pay single penny to them.
thanks buddy!
There will be a section that discusses them trying to get funding and the amount of time you have to return it if not. I don’t know what page it would be on without seeing the contract. There may not be a per mile fee listed, in which case, I would tell them to pound sand.
This sounds about right - without having an income stream, it will be extremely difficult for you to get an auto loan. You can try co-signing with someone who has a job in the US or move forward with the sub-prime lender they have helped find you at 12.9%. I believe the rate isn’t as bad as 18%+ you normally see with sub-primes due to the huge amount of money you have put down.
Or back out of the deal. As for mileage charges, stand your ground on it.
