First I would like to thank each of you that took the time to offer advice and insight. Truly appreciated.

Update 2:
Finance guy called my wife today, and this was what she was told:
“The letters are automatically generated and sent at 10 days. You should have received the letter 3 days ago, however the letter should be disregarded as the loan was funded yesterday.”

Still a bit irritated by the whole ordeal.

Got a letter I had to sign for yesterday. The Ford dealer my wife, step son and I went to last week to buy my step son a car, which is the same dealer we bought my wifes Edge from in 2014, wants the car back. Apparently they are unable to find, among their preferred lenders, an institution to take on the loan that I co-signed.

My wife and I gave them $4500.00, which is a 35% down payment so the boy could easily afford the payments. Our credit scores are all less than 10 points from 800, except my step sons, who has no credit, which is why we are trying to buy the car with us co-signing. Initially, my wife and I were going to co-sign the loan, but the salesman said, whichever of you has the highest credit score will be fine. Wonder if adding her as a co-signer would make a difference? Her paychecks are higher than mine. We are very lucky in that our chosen professions pay well.


My wife religiously puts a percentage of each of our paychecks in an account we don’t touch, and from that, we could pay cash for the car if we wanted.

I don’t know why, but I feel insulted. There is no reason for me to feel insulted. An algorithm said no, and that’s all there is to it.

Perhaps another dealer can find financing.

We have called twice, yesterday and today, left two messages with names and vehicle info, because my wife wants to ask about adding her name as a co-signer, and have yet to receive a return call.


I love the last line of the letter.

“We are still attempting to find appropriate financing for your purchase.”

Oh, ok. So maybe you’ll find it the day after we return the vehicle.

I know it is most likely because of the kid and his lack of credit/credit history. I hate the idea of telling him he has to give his new car back. He’s actually been leaving his room for more than work, and going outside where there are people since he got it. Even had a date with a girl whose last name was not jpg. Then I’ll have to figure out how to explain it in a way that won’t just sound like “They” don’t think you are responsible or trustworthy enough, but still be informative regarding credit and loans and how this can happen to anyone.


Apologies. Had to get that out.

Maybe it’s a good thing. The kid did not listen to me or his dad about the transmission issues the ‘17 Fiesta can have.



Adding link to original post because I forgot.

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