He didn't receive 5.6. They never bought the rate down to 5.6. He received 7.6. He purchased all of the Add ons in good faith that they would buy down his rate to 5.6.

 

read again

 

It still seems like conjecture on whether the "buy rate" was 7.6% or not,an assumption based on the fact that the bank won't talk about it. However, banks have special divisions that deal directly with dealerships, these act like wholesalers and won't generally deal directly with customers. The dealership could have bought the money at 7.6% and charged you 8.6% and made some money, or they could sell it to you at 5.6% and lose money.

To Krava: You're spinning your wheels on the buydown aspect of your transaction. Why don't you see if there is a way to cancel the extra items you purchased? Probably a better route. Just know that often times, if they refund the money, it goes to the lender against your loan vs. cash back to you (assuming the deal is funded).

 

you all need to go see his thread in Ramblings

 

There is no possible way of cancelling it without the dealership signing off on it. If I could I would have done it. I am stuck until they decide to do the right thing or not.

 

Rather than having two threads of the same thing (one here, one in Ramblings), I will close this thread (given it is only minimally RLX-related), and link the one there for people to continue to post in.

https://acurazine.com/forums/ramblin...ership-931547/