need help

[Constantine1234 1]

Thanks for taking your time..this is my situation.. I have a temporary green card right now and will be removing conditions next year.last month I purchased a new car without a cosigner coz I wanna build credit on my own and my wife has some issues with her credit.today, the dealer called me saying that their bank is not accepting my green card because its temporary.they said I need to find a cosigner asap.i was like what? Why did you approve me in the 1st place and let me pay downpayment? I told them I will find a cosigner but the price should be lesser and they said it has nothing to do with the price. Anyway, is there anything I can present to them about my status?

[del-2-5-2014 1,339]

Thanks for taking your time..this is my situation.. I have a temporary green card right now and will be removing conditions next year.last month I purchased a new car without a cosigner coz I wanna build credit on my own and my wife has some issues with her credit.today, the dealer called me saying that their bank is not accepting my green card because its temporary.they said I need to find a cosigner asap.i was like what? Why did you approve me in the 1st place and let me pay downpayment? I told them I will find a cosigner but the price should be lesser and they said it has nothing to do with the price. Anyway, is there anything I can present to them about my status?

Has nothing to do with the price.

You can give them the car back if they want it back and if you don't have a cosigner.

Hopefully you're not paying a high interest rate. Typically you'll use credit cards to build credit.

[Constantine1234 1]

But it should affect the price coz they are asking for a cosigner with good or excellent credit..and we already signed the contract..it will be a breech of contract if they will terminate it..

[carton025 38]

If I were you and the opportunity presented itself I would just give the car back and get the down payment back and consider this a valuable lesson learned. The contract you signed doesn't mean anything if the dealer is unable to find a financial institution to buy the contract from the dealership. I would have reacted just like the bank did and rejected the loan application because your "status" is "temporary." Sorry, this is just the way the banking/loan institutions work in the USA and probably most other countries.

[Constantine1234 1]

But how come they didnt ask me about my status in the 1st place? Its been a month already..

And why did they approve me in the 1st place?

[BASY 0]

Captain, this is America, they will give you everything and then at the end oh wait a minute we need this paper. Guess how they screwed housing industry in 2007-2009 ????.

I have bought a house and a SUV in Dec 2010 and my green card expired in Mar 2012 withouth a cosigner.

Just give them the car and take your downpayment back. This is buyers market now not sellers. Don't panic, I wish you all the best