What expense will I get if i return a car at a dealership?

Question

Got approval on finance over the weekend, gave them money for a downpayment. After 3 days, finance was disapproved, so now I just want to return the car.

Answer 1

I see you're new to this MC so I'll try to go easy on your 1st question
Were gonna need alot more details to answer your question,
Are you : turning in a lease vehicle?
trying to Trade in ?
Dropping off a voluntary repo?
Did you take it for a long test drive ?
Did you Buy it & now changed your mInd ?
Is it new or pre owned ?

you need to be more specific or all you'll get are smart alec answers

also be specific in which catagory you post a question.

There are people here who want to help but also many who see this as a game

Answer 2

If you are talking about a voluntary repo, then you will be hit hard on your credit. You will have a very hard time financing another car for a while, and when you do finally get one financed, the interest rate will be at the state max for whatever car you are buying. 17% on up!!! :-O

In addition, that car will not be your first choice, because you will be in a, "just get me financed" state of mind. 2 years after being in that car, you will be looking to get another car because your circumstances have improved. However, You will owe many thousands more than the car is worth.

In addition, if you do this, the finance company will auction the car off, and it will be for a lot less than what you owe, and you will be responsible for that difference. Example, you owe 10k, they sell it for 5k, you get a bill for 5k for a car you no longer own.

Answer 3

They can sell the car , deduct the price from what you owe and you will still owe the rest.

Answer 4

Depends what dealership you go to i always get it FREE.