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 14:06:44 · 8 answers · asked by Princess 2 in Politics & Government ➔ Law & Ethics
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!
2007-11-27 16:23:16 · answer #1 · answered by fire4511 7 · 2⤊ 0⤋
What is important is valid insurance, not the bank loan. If you had the car insured and the accident is covered, someone will receive a check. Since the lender did not complete the financing, it will not be them. Since you did not pay for the car in cash, it shouldn't be you.
The one who is holding the financial bag for the loss is the dealer--they have not yet been paid for the car. The car isn't in your name, or the lenders, it is probably still in the name of the dealer.
So--collect the insurance check and endorse it over to the dealer to pay for the car. There is no need to complete any financing for the car. Don't, under any circumstances, lie on a loan application. That is a crime and you could go to jail for it.
2007-11-27 14:13:07 · answer #2 · answered by raichasays 7 · 4⤊ 0⤋
You REALLY, REALLY need to speak w. an attorney. Now you may be thinking that will cost a lot and you can work it out yourself. BUT.......
Somwhere somehow you are going to get screwed if you don't. Especially if the dealership is asking you to lie. They know that once you lie they have you. If you do it will later come out and completely destroy your credibility in court. You could be criminally charged.
When all of this gets started the insurance company may later decide that they are not actually not liable and you owe the money back. So don't fix the car or give anyone a check for anything.
Potentially you could end up owing for the car and not actually have a car. A lawyer is a small price to pay. HE needs to deal w. the dealership, not you.
2007-11-28 03:55:27 · answer #3 · answered by jackson 7 · 0⤊ 2⤋
It sounds like someone at the dealership messed up and needs you to lie to cover their mistake. Lying to the finance company is fraudulent and could be bad news for you. The dealership probably wants their "discount" (kickback) that they receive with an approved loan from the finance company. Don't let them pressure you into lying.
If your insurance company is paying the full amount of the purchase, there is no legal need to get the loan funded that I can see. Tell the truth.
2007-11-27 14:15:32 · answer #4 · answered by browneyedgirl623 5 · 1⤊ 2⤋
I would say talk to someone professional, because it's possible that you could get in a bunch of trouble if you lie to the finance company. It could screw up your credit among many other things!! Good Luck!!
2007-11-27 14:11:25 · answer #5 · answered by Sarah H 2 · 1⤊ 0⤋
This is a tricky matter and I would advise you to contact a lawyer quickly!
While we all like to be helpful in this matter, I would not rely on our advice as this is a tricky matter of commercial law that requires someone to have specific subject-matter expertise and cannot be answered generally or generically.
The auto dealer is NOT going to act in your best interest. They are acting in THEIR best interest. WHile you may end up having common interest to protect...at the end of the day...who's going to be responsible for this is!?!
Hire an attorney. I don't say that often on here, but hire an attorney!
2007-11-27 14:14:43 · answer #6 · answered by ironjag 5 · 1⤊ 2⤋
Talk to your insurance company.
Don't lie to anyone. I think maybe the car company may get more money if you lie. But they should'nt get more than what your insurance company gives them. Once again talk to your insurance company.
2007-11-27 14:13:30 · answer #7 · answered by K 6 · 1⤊ 1⤋
This is a horrible dealership. I would contact the better business bureau in your area and talk to them. Do not lie for them.
2007-11-27 14:11:49 · answer #8 · answered by Anonymous · 2⤊ 2⤋