i brought a new car a week ago. the car dealership want to raise the interest rate after i signed the contract. My responsed was NO i dont want to sign a new contract, i will return the car tomorrow. 9 hours later they called back and said my application was approved. Then two day ago they want me to prove my income? Or else i have to take the car back. I can prove my income but i feel that this dealership is trying to pull another scam. what would happen if i give back the vehicle, does it count as a repossession? How much time i have entire they do something? Or can they just come and take my car away?
2006-10-01 21:24:24 · 2 answers · asked by aznsupermann 1 in Cars & Transportation ➔ Buying & Selling
They are not trying to pull anything! They probably had to go through a different bank. This bank wants proof that you make enough money to afford the vehicle that you are in. If you give the vehicle back it will not be a repossession but it will look bad that you had this bank approve you then you said no. This bank will have a very hard time wanting to approve you again. I say just show them the income. They are not asking it because they want it. It is because the bank wants to see it. They are giving you a loan they just want to make sure that you are not trying to get in over your head.
Just so you know a trade in cannot be sold until the previous deal is done. So do not listen to the person above.
2006-10-02 06:11:33 · answer #1 · answered by cargrl 3 · 0⤊ 0⤋
If you traded in an old car, tell them you'll be there and to have your old car ready. Chances are they moved it out. They'll have to accept the terms of the deal you signed.
Tell them to send you everything in writing through the mail. You will not accept any phone calls. Tell them you want it in writing to have other people look at it to make sure they aren't trying to scam you. Get the names of the people who call you too. If it's fishy, report it to the BBB.
2006-10-01 21:35:03 · answer #2 · answered by shogun_316 5 · 0⤊ 1⤋