Car dealrship hasnt been able to get me financed and it has been over a month. About three weeks ago I went into dealrship and signed new contract and was told that I had finaly been approved and that they had already sold my trade in. Come to find out I wasnt financed. I was told if I dont bring in $1200 they are going to have car repod and that I can just forget about the $500 I gave as a def payment and I can just forget about my trade in bc its gone so I better get use to the thought of walking. I never even gave title to my old car bc I thought that would stop them from selling it till I knew I was financed for sure. I was also told to lie to the bank and say that I gave them $2,000 in cash as a down which I didnt. I does say in contract that I signed that I gave them that much cash. I know they are trying to get one over on me but where exactly do I stand? They didnt get in contact with me withing 10 days of new contract.
2007-12-18 20:03:49 · 5 answers · asked by TKM23 2 in Cars & Transportation ➔ Buying & Selling
First of all, never lie to the bank and might want to let the bank know what you are being asked to do.
Secondly, tell the dealer firmly that you are only buying the car based on the original term of the contract that you signed and agreed to. Otherwise, there is no deal.
Third, be prepared to return the car if they won't budge. They are required to return your down payment and your trade in if they haven't sold it already.
If they won't return your down payment and your trade in, you'll need to consult with an attorney who specializes in car dealer issues.
Another thing, after 10 days, the car is yours and the dealer has no choice but to find you a lender who will finance you.
2007-12-18 20:42:08 · answer #1 · answered by Maricel S 4 · 1⤊ 0⤋
This may work out in your favor since they are showing you put down $2000. They did not fulfill their end of the contract. You are entitled to receive back your full down payment plus the value of your trade if it has been sold less any wear and tear on the new vehicle, The dealer is just trying to pressure you into taking the vehicle. I would first contact an attorney or legal aid in your area. Do not sign anything else with this dealer. They will keep trying to pressure you, but don't go for it. They are now on the hook for the bogus down payment which may be refunded to you since it shows you put it down.
Good Luck!
2007-12-19 01:46:15 · answer #2 · answered by stingray41042 3 · 1⤊ 0⤋
Contact the DMV in your state. They will take of this no problem. They can't technically sell your old car if they don't have the title to it. They can issue a temporary registration to whoever bought your car but after 30 - 60 days it has to be registered with the real title. The laws all vary from state to state so Im not 100% sure depending on what state you live in.
2007-12-18 21:05:50 · answer #3 · answered by Boosted6 1 · 0⤊ 0⤋
Contact your states attorney generals office and see what they can do for you.
2007-12-18 23:53:57 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Call your local better business bureau.
2007-12-18 20:11:58 · answer #5 · answered by Lorenzo Steed 7 · 0⤊ 0⤋