I purchased a car 21 days ago. The dealership drug their feet on getting the car funded from the lender. The car was wrecked and may be totaled. So I have a possibly totaled car on my hands that the bank hasent funded the financing for. So NOW I get a call from the dealership saying they are missing a piece of information they need to get the loan funded. (this only after I found out that the car was never registered in my name, and had trouble getting it towed. I had to call the dealership) I told them what happened and they are basically wanting me to lie about the car to the finance company to get the car funded. They never came out and said it, but they are jumping around the subject. I don't know what to do. The car isn't in my name. My insurance company is paying for it which is fine because I wrecked it. I just don't want to lie, and now I have to jump hoops because the dealer drug their feet. What should I do and what is the law. Should I just keep the finance co. out of it?
2007-11-27 14:05:20 · 5 answers · asked by Princess 2 in Cars & Transportation ➔ Buying & Selling
There are several unrelated issues here. What happened was the dealer "spot delivered" the car. What they did is let you take the car, assuming that they could get you financed! They did all the paperwork and depending on the state, may have issued you a temporary tag!
The fact that your financing was not yet approved does not mean that you are not responsible for the car! The dealership made sure that you had insurance prior to allowing you to take the vehicle!
They may not have taken the paperwork to DMV for a title to be issued yet (due to the financing delay) but I do not understand why you had a problem having the car towed!
If the car is a total loss, the insurance company should pay off car, or come close to doing so! If it is not totaled, they should pay for the repairs!
The dealer is afraid that the finance company will not finance the car after they learn of the damage! Provide the dealer with the information that they need. You may also want to talk to your claim representative to see if there is a way to speed up determining if the car is going to be repaired or totaled!
Do not lie to the finance company. There really is no reason for you to have to talk to them at all! If they call you, answer only the questions they ask!
Good luck
2007-11-27 14:58:58 · answer #1 · answered by fire4511 7 · 2⤊ 1⤋
Since your name wasn't on the title nor was the car registered in your name and the fiance company hadn't released funds for the car, then just leave the finance company out of it. Notify the finance company of the situation so they will stop the loan process. Have your insurance company pay the dealership (since they still own the car). The car dealership shouldn't have let you take possession of the car until the paperwork had been completed so it's their problem.
2007-11-27 14:15:53 · answer #2 · answered by mollyflan 6 · 1⤊ 2⤋
That means the car was in the dealers name? Why isn't your insurance taking care of it? If you had insurance on the car, they should take care of it. Don't lie to the finance company, that is a federal offense and you can do time if you get caught!
2007-11-27 14:14:53 · answer #3 · answered by Beau 6 · 2⤊ 0⤋
Do not lie. It will come back to bite you. You may want to consult an attorney if problems arise from you being truthful. A note to Shaq is Phat......there is no reason for you to be saying things like that to someone you don't know.
2007-11-27 14:14:45 · answer #4 · answered by Otto 7 · 2⤊ 0⤋
I don't often recommend this, but now would be a very good time talk to a lawyer. This is what they are for. To keep you out of trouble.
Do not agree to anything. Do not lie. Do not talk to anyone before you talk to a lawyer.
Do this first thing tomorrow.
2007-11-27 14:10:33 · answer #5 · answered by Dan H 7 · 1⤊ 1⤋