Have been having fun reading all the wonderful buying and owning experiences here. Thought I'd share my recent experience, as it's never happened to me before, and it reinforces every poor dealer stereotype out there: the dealer switched my financing from my pre-approved credit union to Toyota Financial services (without my consent, knowledge, or permission).

When I financed the dealer said they were part of the Credit Union Direct Lending program (CUDL), and my CU participated, but I'd have to fill out another credit app (to get the paperwork to the CU). Didn't make much sense to me at the time, but I knew I was pre-approved so rolled with it.

Come to find out, they submitted the app to my CU, who approved it at the rate quoted. However, when my CU tried to get a hold of the dealer, they never responded. Instead the opened me an account with Toyota Financial Services and only told me when I called to find out why my CU still hadn't received the paperwork.

Now, granted, this move didn't cost me any more money, but at the end of the day I have good credit and with that comes the luxury of choice. Additionally, I value keeping money locally and in credit unions. But I shouldn't have to explain my value system (to a dealer with no values)... and I certainly shouldn't have choices taken away from me (esp. when I'm sure they received some form of incentive from Toyota for the move).

I've already ranted on the dealer - and they're total tools. Lady in finance was bragging, saying, "rant away, I can take this all day" (and can only imagine how much fun her husband must have with her). They never apologized, but were sure to point out how they've done nothing illegal.

Guess moral of the story is don't trust dealers. Their reputation is well deserved (in most cases). Certainly was in this one.

Good news is: after a month, still am loving my 4runner (have a cool tent/trailer I'm using with her now), and my credit union is still great (and are getting me refinanced ASAP).

Dealers can get away with most anything. They are a major source of tax income for the community and get a pass from the DA and other law enforcers.

Are ALL devices for cleansing the female sexual organ.

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Good news is: after a month, still am loving my 4runner (have a cool tent/trailer I'm using with her now), and my credit union is still great (and are getting me refinanced ASAP).[/QUOTE]

Glad you are still going to transfer loan to credit union. I have the same beliefs, and an unscrupulous dealer should not get rewarded for this kind of behavior with years of interest payments. I have always gotten the best deal at a credit union. My local dealer gave me the old " we might be able to get you better interest rate" I told him I don't care if he can, I will do business through my credit union out of loyalty, and my loan is preapproved. This takes the power away of trying to manipulate the final cost. " How much can you afford per month" questions become a thing of the past.

A buddy of mine is the Finance guy for Honda and he told me that dealerships get kick backs from most lenders except credit unions were they get nothing. As long as you didn't pay more or get charged a higher interest rate then good for you, but it sucks to have a dealership have that kind of attitude with someone buying a $40K vehicle. That's why I just come in with a check from my bank and ignore all their talk about better offers. Like you I have great credit and my bank gives me amazing interest rates.
Also I would definitely give them a bad survey when Toyota sends it to you, if they don't then I would send Toyota a nasty letter about the Stealership practices and attitudes. And I would never go back there.

I am astounded that you stood for that. It's fraudulent. I'd have told them to stick their deal where the sun don't shine just on principal.

And then to have them laugh in your face!!!!

This is a case in which they need to be named and shamed so the rest of us in the NW can avoid them.

I agree that it's a notch below shady in my book.
But...
My credit union (just went belly up, lol) couldn't even come close to the rate I got from the dealer.

Hmmm, then I like dealers

I bet they charged you for filling out that credit app too. Better check. At least you can try to get that fee back- even though it is probably nominal.

Moral of the story is if you are a CU member get pre approved and walk in with a bank check. Prevents these issues and save a sh1tload of time during the buying process. Although the stealership sucks you could have been better prepared. They sent it through TF so they could get a kickback.... you get the same rate and even though you are pissed you settled. In other words if they are getting a $500 kickback you could have gotten $500 more off your vehicle easily and financed through the CU

I didn't stand for it. I've filed a case with the State Attorney General's office. They don't want to answer to me, but they can answer to them.

Good on you. Not illegal? Sounds like fraud to me, even though you got the same rate, it is not where you wanted it, and not where you were told it would go. If they did it without your knowledge or consent, then it is fraud for profit in my book, because they received compensation for deceiving you.

In Canada, a lender can transfer your debt to someone else without your approval. I expect it's the same there.

But that's not what happened here.

You and the dealer had an agreement to use a particular lender, and the dealer failed to honour that commitment, instead choosing their own preferred lender.

You have good reason to be pi$$ed off, but by accepting the vehicle you lost a lot of your leverage. I doubt there's much you can do now, except let Toyota know.

it isnt fraud or illegal... you sign for an out the door price and an APR. If both are as you agreed to they have no obligation to finance with your institution.