We did end up buying that 2011 Odyssey I posted about (pics and review to come on that later). The financing was done through Wells Fargo. We signed all the paperwork, gave them our down payment, and everything was good to go.
Then I got a phone call two days ago from the dealership’s financing guy saying that they’re changing the bank for my loan from Wells Fargo to a local credit union because Wells Fargo wanted to charge them some $500 fee for paperwork. They say that nothing else will change; my interest rate, monthly payment, etc. will stay exactly as I agreed to them. I just have to sign all of this paperwork and join the credit union (oh, and they’re going to cover the application fee or whatever).
This doesn’t pass the smell test for me. Are they being honest with me about what’s going on (I know, car dealership, so probably not)? Or are they working some better deal to make more money on their end out of this? I talked it over with my dad and that was his thought, and that I can either refuse to sign the paperwork, or I can try to work something out of the deal, like asking for some sort of extended warranty or half the money they’re saving from the “paperwork fee”. Has anyone else had this happen? Or perhaps work in finance at a dealership that would know if this is legit or not? Pic of a badass Ford GT render for your time.