Capital One Catastrophe!

[dx3]

Wow I'm kind of shocked to see how some primers are reacting to the op. He is a fellow NSX enthusiast with a passion for this car and should be given more support by this community. Maybe he should have checked and double-checked, but this kind of thing can happen especially when both the buyer and seller have verified it with Capital One.

OP, sorry about your inconveniences. I sincerely hope things work out for you. Even if you lose a little money and don't get this specific car don't give up. You'll have your chance in an NSX, and then it will be completely worth it. I would offer my help if I could. Man up buddy, things will work out!

Hey man,

Glad someone around here was supportive Wasn't expecting the response I had from most people but thank you for at least your kind words. Thank you everyone else for providing ideas and thoughts - they are appreciated.

Financially I am in good shape so that is why I chose to take out the loan in the first place. I just know my credit score was hurting because of the new home.

I just spoke with Capital One and they ran the loan through again and approved it based on the correct figures :tongue:

Thank you guys again,

Jonny

 

[Ponyboy]

I just spoke with Capital One and they ran the loan through again and approved it based on the correct figures :tongue:

Wootage! Another NSX owner in Tulsa. I have a feeling your first local NSX meet will be a "congrats" party.

As stated via email, I'll keep you in the loop on the latest.

 

[Revhard191]

Wow I'm kind of shocked to see how some primers are reacting to the op. He is a fellow NSX enthusiast with a passion for this car and should be given more support by this community. Maybe he should have checked and double-checked, but this kind of thing can happen especially when both the buyer and seller have verified it with Capital One.

OP, sorry about your inconveniences. I sincerely hope things work out for you. Even if you lose a little money and don't get this specific car don't give up. You'll have your chance in an NSX, and then it will be completely worth it. I would offer my help if I could. Man up buddy, things will work out!

JadeFox, I just read this whole thread and I totally agree with you about some of the other members here. I have been very quiet for a while and only read threads, but since I know Johnny from Club Lexus, he was a great guy and very well liked for his elegant mods to his GS. I can totally vouch for Johnny, he was a great contributer and a great supporter of CL and probably still is.

Johnny, take it for what it is worth, contact the seller and keep in touch with him about the progress.....I think if you do this and assure him that you are doing your best to resolve this situation, then it may pan out for the best.....worst case scenario.....you may have to return the car. Although, mistakes do happen from time to time and no one is perfect.....just do what you'd think is right and if shoe was on the other foot, think about how you'd like to have it resolved.

Good luck and keep in touch.....the Dark Side will prevail!

 

[dx3]

Wootage! Another NSX owner in Tulsa. I have a feeling your first local NSX meet will be a "congrats" party.

As stated via email, I'll keep you in the loop on the latest.

Sounds good Shawn. Looking forward to it. Maybe then someone can point out this damn VSS for me!!

JadeFox, I just read this whole thread and I totally agree with you about some of the other members here. I have been very quiet for a while and only read threads, but since I know Johnny from Club Lexus, he was a great guy and very well liked for his elegant mods to his GS. I can totally vouch for Johnny, he was a great contributer and a great supporter of CL and probably still is.

Johnny, take it for what it is worth, contact the seller and keep in touch with him about the progress.....I think if you do this and assure him that you are doing your best to resolve this situation, then it may pan out for the best.....worst case scenario.....you may have to return the car. Although, mistakes do happen from time to time and no one is perfect.....just do what you'd think is right and if shoe was on the other foot, think about how you'd like to have it resolved.

Good luck and keep in touch.....the Dark Side will prevail!

Thank you man - your words are greatly appreciated.:smile:

Thankfully it is all sorted out and I get to keep my new car :tongue:

Thanks again guys,
Jonny

 

[DV8]

Actually, I think you handled the criticism quite well. Kudos to you! Although I don't believe people were trying to downplay you when giving their advice on finances but rather looking out for your best interests. I'm sure there's been a number of occassions where people have bit off more than they can chew when purchasing a car so they were trying to steer you away from falling into that situation.

Glad everything worked out with the car. Welcome to NSX ownership... you're in for a hellava ride! :wink:

 

[ediddynsx]

Glad things worked out for you. Welcome aboard. :smile:

 

[L8apex32]

Regarding the criticism, I didn't see any criticism. The way I read the first message - it was a statement of what happened, asking for help, and it blamed the bank for the mistake.

The reply posts came in 2 flavors. One set, which was the first set, gave good advice. Some also correctly placed the blame, which was up for debate, on the borrower. The other set were sympathy notes, most of which had no advice.

I didn't really see any criticisms. I don't think explaining who is at fault is a criticism. It was a mistake and one side certainly made it.

I also don't see how sympathy responses do you any good. At least, not any good in the long run.

It is hard to see advice and analysis of a problem we are involved in and not take it personally. I have this problem as much as any of us. However, the people that respond to questions like this are taking time out of their day to give advice to help a fellow NSX enthusiast out of a problem. Even if they don't start with a sympathy paragraph, they are out sent out of a desire to help... at least the ones I see in this thread. I didn't see any that were derragatory or insulting - like "what a stupid idea" or "what a dumb blank".

Glad it all worked out.

 

[yellow-scorpion]

Capital one did the same thing to us a few years back. In 2002 we purchased a 1999 mercedes ml350 from Arizona, we live in California. They approved us for the car. It met the requirments, milaege, price, year. But what they failed to tell us was that they don't finance a car thats out of state. That was great but we had already brought the car back, and to make maters worse the dealer was paniking. Within 2 days we had it financed through our credit union and as long as you explain the situation and plead with them for help than you should be ok. Whats funny was we kept the car for 6 months and didn't like it at all and ended up selling it. What a hassle and waist of time.

 

[JadeFox]

Regarding the criticism, I didn't see any criticism. The way I read the first message - it was a statement of what happened, asking for help, and it blamed the bank for the mistake.

The reply posts came in 2 flavors. One set, which was the first set, gave good advice. Some also correctly placed the blame, which was up for debate, on the borrower. The other set were sympathy notes, most of which had no advice.

I didn't really see any criticisms. I don't think explaining who is at fault is a criticism. It was a mistake and one side certainly made it.

I also don't see how sympathy responses do you any good. At least, not any good in the long run.

It is hard to see advice and analysis of a problem we are involved in and not take it personally. I have this problem as much as any of us. However, the people that respond to questions like this are taking time out of their day to give advice to help a fellow NSX enthusiast out of a problem. Even if they don't start with a sympathy paragraph, they are out sent out of a desire to help... at least the ones I see in this thread. I didn't see any that were derragatory or insulting - like "what a stupid idea" or "what a dumb blank".

Glad it all worked out.

Hey man, I totally understand where you're coming from. I assume that since I brought up the 'sympathy post' first that I'm to blame. But if I can explain my logic, I thought my post would still add something of a support for the op though it does not add any real value in helping him out of his situation. And I'm not blaming anyone either. I've been reading this forum for a long time, and as a youngster one of the things that drew me here as opposed to other boards was the welcoming attitude and care that members had for one another. The responses were not out of line in any way, they just were not in line with what I usually see.

In regards to the situation, the op stated that both he and the seller contacted Capital One with no problems. If you do not see any negligence on their part then it's just a matter of us having different opinions. They could have caught the mistake earlier on. I just read a thread where a guy crashed his car after going through a corner, and he was not afforded any insurance and knew it. Now why did he post? In my mind he wanted to share his grief and receive support from the members here. I also wanted to say I was sorry for his car, but refrained because I don't want to sound like a bitch offering sympathy all the time. Sometimes I just think people need it. Sorry for the long post.

 

[01blacks4]

easy to fix...since you must have OK credit to get capitialone to look at you in the first place....

take the title, which is in your name and not capitialones, as you prolly havent sent it to them yet...to your bank and take out a personal loan, use the car to secure the note... your interest will be better and it should be easy..

 

[Tony Montoya]

If you have the time you should drive the car back to it's owner and then fly home. It will cost you another 300 dollars but to me you have gotten a pretty good deal. Twelve hundred miles in an NSX for 600 bucks is cheap.
You also owe the owner about 300 bucks for depreciation and wear and tear but I'm sure he'll forgive that if he gets his car back in one piece.

Try to get a loan so you don't have to return the car.

Good luck.

PS. I throw Capital One mail in the trash where it belongs.

 

[Tony Montoya]

I was gonna blah blah blah you about the money but you don't deserve a reprimand. I make way less than you and I have an NSX. I also don't think we gave you a hard time here. If you can't drive the car back then I guess the owner has to come and get the car.

If I was the owner I'd be suing somebody or some company

PS. Never sue non rich people.

PPS. I guess I should read more than the first 5 posts before commenting. Welcome to the club.

PPPS. I read of a few NSX totalled with no insurance. It helps me cause I was gonna complain about the paint chip I found on my hood tonight. Now I feel better.

 

[dx3]

Thankfully it is all sorted out and I get to keep my new car :tongue:

Thanks again guys,
Jonny

For those who missed it :tongue:

Jonny

 

[Meeyatch1]

Wow I'm kind of shocked to see how some primers are reacting to the op. He is a fellow NSX enthusiast with a passion for this car and should be given more support by this community. Maybe he should have checked and double-checked, but this kind of thing can happen especially when both the buyer and seller have verified it with Capital One.

OP, sorry about your inconveniences. I sincerely hope things work out for you. Even if you lose a little money and don't get this specific car don't give up. You'll have your chance in an NSX, and then it will be completely worth it. I would offer my help if I could. Man up buddy, things will work out!

It is the NSX Prime mantra....the view from the ivory tower for several people on here must be a good one. I do not think anyone on Prime actually makes their own mistakes....EVER!!

Now, to the OP. While I do think you should take some personal responsibility for filling out the app wrong, stuff happens, we all goof. The issue here is where do you go from here? Depending on how bad your credit is, you really should be able to get a loan someplace else. Even buying a house, most lenders will loan to you unless your home really maxed out your credit, and it very well may have. Here is what I think you should do:

1.) Call the owner (if you have not already), and tell him he situation. Request that he allow you a week to secure new funding, or you will return the car at that time with apologies.

2.) Evaluate if you can really afford the car. You may love it, but can you really afford the car and the upkeep that comes with it? If you do not have any cash reserves, and are maxed out on credit, take the hard reality hit that you cannot afford an NSX and return the car. Again, with apologies to the owner.

3.) Get a co-signer.

4.) Forget the whole thing, take the car back, and apologize to the owner. Take time to rebuild your credit and cash flow, and look for an NSX at a later date.

At the end of the day it will be all about your character and your communication with the owner and the bank. Do what you feel it right, but be sure to compensate the owner no matter what. He is the most victimized person in this equation. He does not have his NSX, or his money. Good luck.

 

[Meeyatch1]

I just typed all of that then realized you got to keep it....LOL!! :biggrin:

 

[dx3]

I just typed all of that then realized you got to keep it....LOL!! :biggrin:

LOL - it was a good read though :biggrin:

Thanks,
Jonny