Circle Mitsubishi, Long Beach, CA - told could refinance 2002 Mitsubishi Eclipse through dealer, but then not allowed to

# 28 for April 16, 2003

Complaints.com received the following on April 15, 2003:

From: Email User

RE: Circle Mitsubishi, Long Beach, CA - told could refinance 2002 Mitsubishi Eclipse through dealer, but then not allowed to

My husband and I purchased a 2002 Mitsubishi Eclipse last year from Circle Mitsubishi of Long Beach,CA. I love my car but I was screwed over by their financing. After getting 0 down 0 payment 0 interest for 9 mths, they are trying to charge us with a 14% interest rate after the nine months are up.

When we signed on for the car, we were told that we would be charged $667 a month for 60 months. I was thinking for that rate, we could get ourselves a nice beamer for less than that and was about to walk out when they told us we could refinance the car through them at a lower interest rate before our 0-0-0 was up.

My husband asked them to put it in writing and they said " we can't promise you anything because it all depends on your credit". We stupidly took their word for granted and showed up 8 months later to refinance. Their financing guy told us " we don't do refinancing, and suggest you go to a credit union".

We were dumbfounded. Now we are trying to refinace this car with a credit union but we are only approved for $10,000. We are still trying to find ways to finance this car before our 9th month arrives. My suggestion to anyone is DON'T DO 0-0-0 !!! And please don't let them talk you in to refinancing because THEY DON'T DO REFINANCING!!! Email User