Me and my family bought a van from a big dealer ship,and now they are saying we may have to return it because they did not pull a full credit report.They are saying that our credit is not good enough,we put $500 down and signed all the papers and if we want to keep it they are wanting more money down.Or take a lesser/cheaper van.We live in ohio,any help about laws or anything at all would be fully appreciated.
2006-10-16 14:36:21 · 9 answers · asked by Daniel R 2 in Cars & Transportation ➔ Buying & Selling
possession is nine tenths of the law
2006-10-16 14:38:31 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You most likely signed a rider that states if they do not get you approved on the deal they can take the car back. They put the car out on the notion that it would be approved and it was not. If you don't return the car they could report it stolen and go have it towed away. I work for a car dealer and have seen it happen. For your best interest, return the car, come up with more money, or pick a different model. The last thing you want to do is to try and take on a dealership especially when it sound like you do not have the means to do it.
2006-10-17 04:27:44 · answer #2 · answered by n8 dogg 2 · 0⤊ 0⤋
As a finance manager I run into this every now and then. When I get someone with credit issues. My dealership has a contract addendum that states in legalese that we have 30 days to get funded from the lender and if that doesent happen then you bring the car back and we try something different. I have been doing this for a long time and have only had to take a car back from 2 customers. They really want to sell you something and will work hard to get you done. Go back to the dealership and work it out.
2006-10-17 04:06:52 · answer #3 · answered by DAVID S 2 · 0⤊ 0⤋
Yes, they can or get you all stealing a van from a big dealer they have the money you all dont dont care what state you all live in the police will come and get the van and some one.If your family dont have a good credit score they might lease to you all.But you all got to take it back and better hurry they will get money for the miles you all drove.You all dont own a thing if they cant get a bank to take you all the van dont belong to you all,are you all crazy.Do you think they will give the van to you all.
2006-10-16 14:44:02 · answer #4 · answered by Douglas R 4 · 0⤊ 0⤋
There's always a provision in the contract that states "Subject to Loan Approval." Which means the contract is null and void if financing falls through.
But this is a well known scam dealers pull.
http://www.carbuyingtips.com/scams.htm#Scam1
You can either return the vehicle and get your downpayment back or try obtaining the financing on your own, through Capitalone.com for example.
2006-10-16 16:14:46 · answer #5 · answered by Anonymous · 0⤊ 0⤋
the only way they can make you turn it in is if. at the time of purchase you singed an agreement that your purchase was pending a banks aproval. This is usualy done if paper work is run and singed on a non bank day or hr. You will have a copy of that in your paperwork. It will be a totaly seperate from the loan paperwork u singed. if they are the aproving agency want to up your apr they can't that was agreed upon at time of signing. this is their own mistake. Read the fine print. if everything was presented to you as final at signing. then it is.
2006-10-16 14:55:55 · answer #6 · answered by truckercub1275 3 · 0⤊ 0⤋
If the papers were signed, the transaction has already been completed and finalized. If any additional fees are incurred by the dealership, they would be responsible for them.
2006-10-16 14:45:07 · answer #7 · answered by mischa 6 · 0⤊ 0⤋
If you signed the paperwork and left with the vehicle then you own the car.
2006-10-16 14:44:30 · answer #8 · answered by Anonymous · 0⤊ 0⤋
speak to an attorney but if you signed the papers, they are screwed because you own it
2006-10-16 14:39:17 · answer #9 · answered by nbr660 6 · 0⤊ 0⤋