Kepler
Junior Member
- Joined
- Nov 2, 2017
- Posts
- 19
- Reaction score
- 37
- Ram Year
- 2017 Ram 1500
- Engine
- 5.7 Hemi
So I received an interesting call from my dealership today...
I purchased a 2017 Ram 1500 a week and a half ago in Illinois and drove her home to North Carolina. All the paperwork was signed buttoned up and I have been driving the truck ever since waiting for my tags to get here. When I purchased the truck I was offered, approved for, and signed paperwork for $xx,*** at an interest rate through Chrysler financing of 0.9%.
So my phone rings today (a week and a half into driving the truck) and it is the finance guy that I dealt with in Illinois. He says he has some interesting news. He tells me that Chrysler has decided they no longer wanted to proceed with the 0.9% interest rate with me and that a different option had to be pursued. He says that obviously this isn't my fault and I shouldn't be punished, (which I can assure him I would not have been the one paying in this scenario) but that he has obtained financing for me through another source local to me and that my payments would remain exactly the same, for the same number of months, but the interest rate would become 4.99%, and the principal loan amount would be reduced by around $8,000.
So as long as I'm not paying and more per month and the loan term remains the same length I don't see any issue. In fact if I was to go trade the truck in next week I would immediately owe 8k less on the trucks principal.
He said he would overnight the new paperwork and that I needed to sign immediately and mail it back. This is just such a weird situation and I am trying to make sure I am not having the wool pulled over my eyes or that I am not holding the short end of the stick.
I do not want to mention the dealership as they were pleasurable to work with and in reading their reviews before I bought the truck they seem to have a very good reputation.
Has anyone else ever experienced something like this or have and thoughts they would like to throw into the fire?
I purchased a 2017 Ram 1500 a week and a half ago in Illinois and drove her home to North Carolina. All the paperwork was signed buttoned up and I have been driving the truck ever since waiting for my tags to get here. When I purchased the truck I was offered, approved for, and signed paperwork for $xx,*** at an interest rate through Chrysler financing of 0.9%.
So my phone rings today (a week and a half into driving the truck) and it is the finance guy that I dealt with in Illinois. He says he has some interesting news. He tells me that Chrysler has decided they no longer wanted to proceed with the 0.9% interest rate with me and that a different option had to be pursued. He says that obviously this isn't my fault and I shouldn't be punished, (which I can assure him I would not have been the one paying in this scenario) but that he has obtained financing for me through another source local to me and that my payments would remain exactly the same, for the same number of months, but the interest rate would become 4.99%, and the principal loan amount would be reduced by around $8,000.
So as long as I'm not paying and more per month and the loan term remains the same length I don't see any issue. In fact if I was to go trade the truck in next week I would immediately owe 8k less on the trucks principal.
He said he would overnight the new paperwork and that I needed to sign immediately and mail it back. This is just such a weird situation and I am trying to make sure I am not having the wool pulled over my eyes or that I am not holding the short end of the stick.
I do not want to mention the dealership as they were pleasurable to work with and in reading their reviews before I bought the truck they seem to have a very good reputation.
Has anyone else ever experienced something like this or have and thoughts they would like to throw into the fire?