2007-09-19 11:20:14 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
Auto finance is what I do for a living and this is called a spot delivery.
This is done when the actual approval is not in hand and the dealers guess at what they might get. You sign paperwork and then when they actually get the approval you have to go in and resign.
2007-09-19 12:00:42 · answer #1 · answered by ? 7 · 1⤊ 1⤋
Sure. It's pretty common that dealers fill out all the paperwork and allow you to take the car before the loan company gets the paperwork. Some less than honest car sales people sign you up for financing they know you won't qualify for. But after a couple days of driving that pretty car, you'll come back and agree to whatever new terms it takes to finance that car -- higher interest, bigger payments, more money down ....
If you just take the car back and say no, chances are you will be billed a per mile rate for the time you had the car.
Never take a car off the lot until the financing is a done deal!
2007-09-19 18:46:18 · answer #2 · answered by bdancer222 7 · 2⤊ 0⤋
I'm not sure exactly what you mean. If you are financing a car in order to pay for it, most dealers won't let you drive the car off of the lot without having the financing approved and all the paperwork signed. This is a very strange question.
2007-09-19 18:38:05 · answer #3 · answered by jml167 4 · 1⤊ 1⤋
Yes it happend to me I had the car for almost three months then the dealership calls me and says they couldnt find someone to finace me which I thought was very odd and unprofessional but I got all my money back and I trashed the car just a bit I was effing pissed!
2007-09-19 20:01:05 · answer #4 · answered by butterflykisses_2104 2 · 0⤊ 0⤋
HOW did you get to drive it away if you were not yet approved ?
>
2007-09-19 18:54:56 · answer #5 · answered by kate 7 · 0⤊ 0⤋