Previous Auto Loans and Leases are usually considered when applying for another auto loan/lease. Usually if you have a thin file, it’s harder to get Tier 1 rates. Leasing could be easier or harder - but that depends on the lender as well.
I’ve been as transparent as I care to be on this thread, without sending screenshots of my actual credit report. I’ve been with my current employer for over 8 years, and nothing was dishonest on my credit app. I feel like I’ve been swindled. I’m never one to get on a thread or social media to express displeasure with anything, but this one just doesn’t feel right.
At full disclosure, although I will be losing half my broker fee and the $200 plane ticket, I am honestly a little relieved for this deal to fall thru. This was an order that I had no intention other than to flip, and with the market getting soft on the 22s, there would have been massive risk with me taking delivery.
I just feel obligated to provide all the details I can here in an attempt to warn others who have a pending order with Koons.
Will others be successful in taking delivery from Koons? Perhaps.
Will others be better equipped as their delivery date approaches by me sharing my experience?
Absolutely.
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I appreciate you providing all the data points and it’s very sad & unfortunate what you had to go through.
Obviously dealer is a variable in this equation and collectively looking at data points from various denials will help make this more transparent to everyone. That was really the goal behind the replies.
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Ugh, starting to feel like every dealer is sucking, my wife has one on order through Koons. Let me edit: my wife doesn’t have an issue with Koons, just reading what others are going through gives slight anxiety. Might have been better off getting Crapman’d, at least no deposit or broker fee. I have one on order through Ourisman and I’ll probably get Ourisman’d. I might not even take it, but I “should” get my deposit back when they sell it.
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Never an issue with Gupton or Clutch. Just saying
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I’m done with these anyway, thinking more and more everyday about not taking my last one.
I know the feeling I have a 10/1 delivery with Gupton. I think there is still some meat on the bone but that’s my last for sure.
Gupton is da best!
You been kooned. We keep hearing these stories repeatedly on LH and i am sure there are more outside LH. So you have 3 options.
- Move on with the loss
- Ask your wife or someone else to be a cosigner.
- Go for Balloon loan I think payments will be less then the lease payment and you can sell anytime you want.
CCAP do looks at your income to other loans obligations and if they think you cant pay then they can refuse. You will never find out what exactly happened here. But it keeps happening with koons a lot as compare to others. Go figure…
Why things changed later but were ok initially points towards Koon again. 9 out of 10 its koon…
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I dont get this they willing to approve him for Financing but not leasing. Monthly will be higher for Financing but they think he can afford Financing not leasing payments which will be less. That proves his income to debt ratio is not the issue. Maybe he flipped few in the past or its Koons playing their dirty game as usual.
Actually that proves nothing…
You’re essentially the caretaker of the car for a period of time - so the bank holds a much higher standard.
If you damage your lease it’s a problem for them, if you total your financed car it’s your problem
Nobody’s entitled to a lease.
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This is what happened with me with Chapman. Except they also ran my co-signers credit before ghosting me.
@interceptor859 we appreciate you reaching out to us to assist in the matter. As we discussed our network dealer has shared with you a screenshot of the approval decision in support of complete transparency into your deal.
Unfortunately credit decisions can be complex and at times members on the forum may speculate on the matter.
With that said the dealer is more than happy to share the credit decision with any clients whom seek the same level of transparency.
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If I apply for a home mortgage and get denied then my bank provides me a full disclosure the reason for my denial with my score.
Unfortunately I am not hearing that people who got denied ever received a full disclosure for the reason of their denial. They were not even given the case# so they can talk directly to the CCAP. This is strictly between CCAP and the customer and CCAP owe them an explanation for the reason of denial or a low Tier rating. CCAP refuses to give any info till the customer provides them with the case # and dealership never provides them the case#.
I am referring to all the people who came forward and tell their story and we believe their stories.
Idk about a good experience with them on my end. All they say is we are too busy right now. We will try in 2 days and ghosted
The fact that Koons is emailing from a gmail account would’ve been a red flag for me.
Mall of Georgia, boys, never had any issues. No Deposit. No Drama.
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UPDATE!
Lease Companion has agreed to provide me a full refund of their broker fee. Class act by them for sure.
I was provided a screenshot that shows my credit approval as yellow which I am told is “conditional”. Meaning not approved, but also not denied. Not sure that I will ever know the full reason why I was considered yellow or conditional, but again, LC agreeing to a full refund is once again another reason why I will never slander them in any way. LC has been as transparent as they possibly could be thru the whole process, including answering a lot of somewhat off topic questions I had.
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They denied someone recently about a month ago . Dude had multiple ones etc and they ended up keeping his cars. Great dealer tho , agreed no BS and Mike Clinnin is class act.
Good to hear. Nice of LC to take care of it. Its also good to hear of someone going to their broker first rather than jump on a thread.
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