I recently went to a toyota dealer ship and purchased a 2004 nissan 350z with 80000 miles. They were asking 17500 and I got them down to 16000. The car is for my grandsons fiance so she went 2nd on the loan. We were approved through citi financial so she took the car home and drove it for about 3 days. On the third day they wanted proof of income so I gave them our proof of income and then citi financial called me and asked who would be the primary driver. I told them brooke was and they asked me who brooke was? I was confused because her middle name is brooke and thats what she goes by so they denied the loan because they thought that brooke was an outside driver who was not on the loan. So they called it a straw purchase and did not give us the loan. The dealership told us the only way to get the car now (which weve had for almost a week) is to go to a local bank and take out a loan. So I applied at Chase bank and was denied. I have a 7 something credit score and she has a 650. I make the income but she only makes 1200 a month and is a full time student (thats why I was cosigning) If im denied an auto loan through chase will I be denied through bank of america? Or is there a bank that will finance me now? We have to figure something out or she will have to give the car back tomorrow.

I would demand CitiFinancial to get the names on the paperwork straight first and then proceed with the process. If the people, in the CitiFinancial office, can’t get the names right (according to the application) – then they shouldn’t be in business. The application includes telephone numbers, right? Why didn’t they call the names to get them right before doing a credit check……..
That is a really nice car you got her.
A 6 (actually 7) year old car for 16K with 80K miles on it.
Give it back to the dealership.
Chances are she will be late with the payments and ruin your credit.
Chances are she will get in a bind, like lose her job, and not be able to pay.
Get her something normal – not the most sporty used car in the lot.
You could go buy her a Nissan Versa, brand new, for about 10K.
Give it as a gift, because by co-signing you are just begging for your credit to be ruined.
That car is EXPENSIVE to fix if anything goes wrong with it.
I see many, many problems ahead.
Get your thinking cap on straight and realize what you are doing.
Give a car as a gift if you must – or put the loan under your name only.
Don’t ruin your credit over this.
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Most likely any bank will deny you. Did you find out why they denied you? Sometimes they just ask for a higher down payment. It seems like you have pretty good credit…. I’d try Wells Fargo! Good LUCK
Seems you caused the situation yourself by the confusion over the name. I am surprised they did not relent when you explained about the name – assuming you did
call citicard and get a supervisor, there is no reason for them to withdraw financing based on a misunderstanding! If not file with the Better Business Bureau
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