2 wks after buying new car(and changing insurance) - they say credit not good/2 days later they deposit......?

Question

bought car from well-known dealership. gave 2 wk postdated check for down-payment($1000.00) signed all papers, shook all hands and went on to pursue my newly started small business. tens days later they leave message of congrads...& by the way they need 2 references/last pay stub, leave name & number of gentleman who I am to contact. When I call 3 days later he sounded kind of bewildered, put me on hold (for awhile),when he gets back he and says my credit was turned down. Told me that he was working again next day, he will investigate and get back to me next day...don't do anything till i hear from him. this was the 14th day of the month (my chk was dated the 15th) so I asked that my chk not be deposited until this is cleared up...he agreed-said he'd call back next day. Check bounced on 16th...he has yet to call back(one week has passed)...I use car in my new business...have put 2,000 miles already, paid for insurance.....WHAT DO I DO NOW?

forgot to mention my trade-in is gone. They had deposited my check before the date...before they said my credit didn't clear

Answer 1

You will have to return the car, otherwise they will pick it up anyway.

You are free and clear. You owe them nothing.

As for the check, they accepted a "post dated check" and you asked them not to deposit it right away. That is not a "Hot Check". It was nothing more than a "promissory note".

Let them have the car. Walk away.

Don't let them threaten you.
Get that check. Or be sure to stop payment, so they cannot redeposit. I doubt your bamk would honor it anyway. Be sure.

Just cancel your insurance. There may be a slight charge. Check with your ins. co.

Answer 2

Stop waiting for him to call back. Either call his manager or the finance company to find out why you were denied. At this point, you are in possession of property you have not paid for or made arrangements to pay for. If you want to risk driving that car, make sure you leave bail money with a trusted person.

Answer 3

Car insurance http://buycheapcarinsurancequotes2016.com/

Answer 4

Drive it like you stole it.