- Jurisdiction
- Maryland
Hello,
I have an interesting situation here. I just purchased a new (2016) travel trailer on September 1st for long term living at a friends place. On the quick run-through the trailer seemed fine but after I get it home I begin to notice part of a bench had ripped out of the wall, the table in the dining room was very loose and flimsy and many lights inside the trailer simply do not work. To top it off after spending about 30 minutes in the trailer I begin to get an extreme headache from the formaldehyde off gassing that is extremely strong with new trailers (They had the A/C blasting and all windows open when I looked inside at the dealership so it didn't seem like it would be an issue.) After realizing the quality of the trailer and the health implications of living full time in a "toxic" environment. I had serious second thoughts on this. Hoping for the best I went to the dealership in person with my father who "co-signed"(more on this soon) with me on the trailer to see if there was any way I could cancel the sale and return the trailer. They said there was essentially nothing they could do but could try talking to the sales manager who was off that day. So as soon as I was home I sent the sales manager a lengthy email telling him of my issues and concerns with the trailer. He essentially said the same thing the other guys did (I was almost positive I was out of luck but wanted to try my best within the first 24 hours of the sale.)
This is where it gets weird, I knew the bank I was financing though (we'll call it bank X), the monthly payment, APR etc. and that is what I signed up for on the contract as well as my father who co-signed for me. All this information is listed on my copy of the MVA bill of sale, which I have. I've been planning on trying to sell this trailer Asap to get this trailer off my hands, I planned on repairing the bench and making the buyer aware of the flaws. But today I received a letter in the mail from "Bank X" informing me that my loan has been denied. Largely from my lack of credit history. My credit score is 698. I has very confused so began looking back over my copy of the contract and notice my father the co-signer did not sign the "Co-signers agreement" box at the very bottom of the contract. The guy at the dealership seemed to have overlooked it in a rush... Both fields are blank as well as the corresponding address fields. So I am wondering, did the dealership submit the contract to the bank that was doing the loan and without the signature of my father in the co signer agreement box (also in the co-owner box, not sure if that is relevant.) so the bank just looked at my credit score/history and then denied it? I have not heard one thing from the RV dealership and plan on calling the bank itself on Monday or Tuesday (if they are closed for Rosh Hashana) to see what's going on. I know most people would be scared about losing the thing they purchased in this situation but I would actually be ecstatic to get this piece of junk off my hands, especially since the place I was going to put it at more or less isn't going to work out. Not to mention if I have to find another lender it will be at an increased APR and monthly payment and I could barely make the previous one. Any advice on this situation? Sorry for the long post and thank you all for your time.
I have an interesting situation here. I just purchased a new (2016) travel trailer on September 1st for long term living at a friends place. On the quick run-through the trailer seemed fine but after I get it home I begin to notice part of a bench had ripped out of the wall, the table in the dining room was very loose and flimsy and many lights inside the trailer simply do not work. To top it off after spending about 30 minutes in the trailer I begin to get an extreme headache from the formaldehyde off gassing that is extremely strong with new trailers (They had the A/C blasting and all windows open when I looked inside at the dealership so it didn't seem like it would be an issue.) After realizing the quality of the trailer and the health implications of living full time in a "toxic" environment. I had serious second thoughts on this. Hoping for the best I went to the dealership in person with my father who "co-signed"(more on this soon) with me on the trailer to see if there was any way I could cancel the sale and return the trailer. They said there was essentially nothing they could do but could try talking to the sales manager who was off that day. So as soon as I was home I sent the sales manager a lengthy email telling him of my issues and concerns with the trailer. He essentially said the same thing the other guys did (I was almost positive I was out of luck but wanted to try my best within the first 24 hours of the sale.)
This is where it gets weird, I knew the bank I was financing though (we'll call it bank X), the monthly payment, APR etc. and that is what I signed up for on the contract as well as my father who co-signed for me. All this information is listed on my copy of the MVA bill of sale, which I have. I've been planning on trying to sell this trailer Asap to get this trailer off my hands, I planned on repairing the bench and making the buyer aware of the flaws. But today I received a letter in the mail from "Bank X" informing me that my loan has been denied. Largely from my lack of credit history. My credit score is 698. I has very confused so began looking back over my copy of the contract and notice my father the co-signer did not sign the "Co-signers agreement" box at the very bottom of the contract. The guy at the dealership seemed to have overlooked it in a rush... Both fields are blank as well as the corresponding address fields. So I am wondering, did the dealership submit the contract to the bank that was doing the loan and without the signature of my father in the co signer agreement box (also in the co-owner box, not sure if that is relevant.) so the bank just looked at my credit score/history and then denied it? I have not heard one thing from the RV dealership and plan on calling the bank itself on Monday or Tuesday (if they are closed for Rosh Hashana) to see what's going on. I know most people would be scared about losing the thing they purchased in this situation but I would actually be ecstatic to get this piece of junk off my hands, especially since the place I was going to put it at more or less isn't going to work out. Not to mention if I have to find another lender it will be at an increased APR and monthly payment and I could barely make the previous one. Any advice on this situation? Sorry for the long post and thank you all for your time.
