I highly recommend you look at the big picture.
They are sending you ouy a new form with the correct info, your son got the car and hopefully he will be able to make the payments.
Just calm down, sign and send back the revised statement and let it go.
Good luck.
Being a veteran doesn’t mean you get a car. Veteran or not, you’re just another customer unless you’re talking VA loan for a house or something like that. And yes, you would be out of your mind to sign a contract in any state falsifying your income.
They fudged it a little bit?
Who gives a sh.t?
They could say i was the @#$$ing POTUS if I could get the car I want.
I better stay up north .
Don’t want to infect the south with my ways :)
Quick story; my exwife signed a vehicle purchase application with an inflated income claimed on the form. She is self employed so her income is hard to pin down. My lawyer used that to establish her income when she sued me for additional child support. My child support was actually reduced. Always be careful what you sign.
“Dealership sent me the paperwork to sign this week and on the form they increased my income by 25% in addition to other false statements pertaining to my employment; I was livid that they expected me to sign such a statement.”
****
That’s nothing. I even got years back paperwork that STATES I am a fag, (because the idiot Mercury insurance thought it would decrease my payment AND insurance). True story. Always read the fine print. I knew it was trouble when the city asked for my “wedding certificate” (blecchh) later on..
If it is a ‘tote the note’ used car lot, then you’re going to get ripped off several different ways; more likely they are going to broker the loan for a bank, in which case the false financials would have been a federal crime.
In any event, the used car salesmen want the sale no matter what. Income from loan brokerage and insurance pimping are gravy.
I do find it amusing that you have a grown son and are just now discovering that used car salesmen can be ethically challenged.
It sounds like a salesman at the end of a month. It’s not a liberal thing at all.
To think, a used car salesman being unethical...
Run away from this deal.
The worse the credit for your son, the less they can lend. If you cosign they will jack up the loan principal and add on a bunch of stuff you do not need. Sure, the interest will be lower, but they compensate that by increasing peincipal. Hood credit is a rip off.
Refuse to co sign, let them retake the truck and work out a lower price. Save some money, then pay off quickly the principle. Dont go for their bluff.
Either go for the deal or return the car (Texas does have some laws that govern truth in lending, lemon laws and the like). There are thousands of late model purchase options: dealers, Carvana etc. and access to info about vehicles Carfax. It is easier than even to buy a vehicle with less likelihood of getting ripped off if you are just halfway observant.
*Good credit is a rip off.
Refuse to co sign, let them retake the truck and work out a lower price. Save some money, then pay off quickly the principle. Dont go for their bluff.
What type of dealership
New with pre owned or used only or buy here pay here
I never buy used vehicles from used car dealers. Craigslist is the way to go. I purchased my last three vehicles from private parties on craigslist and they have all three been excellent.
I wouldn't be too quick to blame the income error on Texas.
This is the "used car salesman" way. Lower than low.
Besides who cares what your income is? Did you have to provide tax returns to prove it? The dealer just finances it through one of their credit sources.
If they corrected it and closed the deal, that's all that counts anyway.
Run! Do not walk from this deal. Go find a good used car for $10,000 until he can save a good down payment and do his own financing. You’ll thank me later. One of my sons makes nearly 6 figures, lives in an nice $1100 a month apartment drives a good car he has about $2500 all in and he banks 50% of his income on top of his 401k. His co-workers all don’t understand why he doesn’t go out and by a new or slightly used pick up for his 60 mile daily commute. He laughs all the way to the bank while they are scraping by.
You dodged a bullet, never co-sign anything.
Rather than going thru the dealer for a loan, try the Navy Federal Credit Union.
They treat veterans and active duty people well and know what they’re doing.
Good luck.
They were trying to get a lower interest rate. By being a more secure loan, the financing company would have given a lower interest rate. By lowering you income to the actual amount, they prob redid the financing, and gave your done a higher interest rate.
Fudged paperwork?
Could be a result of what your son is learning in cop college.