if u buy a car at the dealer ship and the dealer tells u the bank apporveds the loans and later on the banks says that they did not approve the first terms of your loan and the dealer works something out with the banks on terms u do not know about and the dealer tells u to write a check for the cars tags and taxes for $2,000 and u signed the contract but the dealer lied about u getting the loan through the bank and the bank sends u a letter a couple days later with different terms than what u and the dealership talked about can they still hold u to the signed contract and all they have is the check the bank have not payed them for the car are u liable for the new car u returned to them?
2007-12-02 15:35:50 · 7 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
Some dealers will allow you to take the vehicle when they know they have not finalized the financing. You think the loan has been finalized but really all they did was present a request for a loan to the bank.
They submit a loan to a bank based on your credit and down payment they THINK the bank will accept. The loan goes to the bank they review it and then they can deny it or accept it.
If they deny it the original loan has to be changed or they can ask you to bring the vehicle back and exchange it for a car the bank will accept. They can do this if they put the possiblity of this happening in writing. It sucks but it can happen make sure that the financing is a done deal and refuse to take the car until you know that the bank has accepted all the terms of the loan you signed.
2007-12-02 21:14:48 · answer #1 · answered by Blessed 4 · 0⤊ 0⤋
This is a common, and not usually illegal, SCAM. They promise you financing they can not or will not actually give you in order to get you to take the car. They then come back and try to get you to agree to less favorable terms (usually a higher interest rate) in the hope that you will be so attached to the car that you won't want to give it up.
If you traded in a car in this deal, which they either sold already and can't give you back (possible) or they won't give back, even though they still have it and could (likely) it's called "Dehorsing." In some places this is legal, in others, it is considered fraud. (If this happened to you and you're in Texas, press charges.)
http://www.dot.state.tx.us/publications/motor_vehicle/section05.pdf
http://jalopnik.com/cars/rules-of-the-road/rules-of-the-road-how-not-to-get-dehorsed-when-buying-a-car-325256.php
You should be able to return the car, possibly with some nominal charges for use of the thing. You are PROBABLY legally entitled to most of your money back. If they refuse, don't hesitate to sue them.
Return the car, take your business elsewhere. This dealer is scum.
(Any car salesmen, if you're going to whine about how "it's the banks, oh it's the banks' fault! And how am I supposed to make a sale if I have to wait for financing!" shove it. You know this can happen, and it benefits you for it to happen. If you do this, you are a waste of skin, and the world will be better off with you dead.)
2007-12-02 17:13:06 · answer #2 · answered by Anonymous · 1⤊ 0⤋
The dealer has violated the Truth in Lending act. Under federal law, you are to be told the terms of any kind of loan that is made. In this case, the dealer was supposed to tell you the terms of the second approval. I also suspect fraud in this deal. I would definitely contact an attorney and explain this situation. He/she will be able to advise you on what avenue you need to persue this matter
2007-12-02 16:04:19 · answer #3 · answered by bobby 6 · 1⤊ 1⤋
Your original contract is a legal document.
In the event the latter document differs from the bank document you have the right to consult a lawyer and get to the bottom of this travesty.
Fraud is a very serious implication but make sure you have legal proof before accusing another!
2007-12-02 15:52:48 · answer #4 · answered by Kazoo M 7 · 0⤊ 0⤋
Make him a mendacity ex somewhat of a mendacity husband... the two way he is going to be a liar the adaptation is very or not you may manage it. Him having yet another baby shouldn't probable be an argument if he isn't mendacity approximately it - btw, you would be a step-mom in case you circulate by with the marriage so it is not he has a baby it is going to likely be we've a baby. The age of the baby does make one ask your self how long you 2 have been at the same time and now engaged. If he did not cheat the max could be a 365 days and four months for all the courting and that would mean that he broke up along with her interior a month of knocking her up... are you rather going to throw away your thankfully ever after on a guy it rather is stressing you out and mendacity to you previously you even get married and you have not been with for that long and in case you have been at the same time for longer that gets human beings pregnant. Why could you opt for to be with this guy? Are you wanting help to earnings a thank you to handle his mendacity and having little ones exterior the courting for the destiny achievement of your marriage - if he's doing this now what do you anticipate sooner or later? many stuff could be labored by in marriage, yet do not walk right into a marriage with a bag of crap! in case you think of that being his spouse will make it greater advantageous, think of lower back it is going to in ordinary terms make it worse and the disrespect of being lied to would be amplified. you are going to be able to desire to reassess your motives, artwork in your self self belief, and make certain why you may opt for to marry somebody who treats you badly - help your self and get out!
2016-10-10 03:08:06 · answer #5 · answered by fomby 4 · 0⤊ 0⤋
This has happened to me. I thought it was my car even asked if I could go ahead and tint the windows they said yes its your car you can do whatever you want to it. So I did and after 14 days they took the car back from me. Does the dealership have to reimburse me for the tints I put on the windows?
2016-03-27 02:33:03 · answer #6 · answered by Alicia 1 · 0⤊ 0⤋
wow... I didn't see one period in that huge paragraph. But to you question.... It is against the law but it will be very hard to prove. You might be able to scare them by saying you got a lawyer
2007-12-02 16:30:04 · answer #7 · answered by Jeremy F 4 · 1⤊ 0⤋