what am i entitled to???

Question

i have had this vehicle for about a month, and received a call earlier this week that i need to bring the car back. the deal didnt go through. Now, when i go give it back am i entitled to my deposit of $1000 back TODAY, or there such a thing of a "check needing to be processed, that takes a week"? i need help fast.

Answer 1

You are entitled to your money back. They are allowed to take a reasonable amount of time to refund the money.

if you can play the game of making the car dealer the creditor or not will depend on the contract you signed when you purchased the car and why the loan was denied.

if the loan was denied because information you provided was incorrect (you said you made X dollars a year and you submitted documentation for less) you can expect they will sue you for fraud. So, go ahead and keep the car without talking to a lawyer. See what you lose.

In the state of Washington keeping the car would be the same as car theft. The dealer requests loans for your convince. The car is given to you contingent on your obtaining financing. Failure to obtain financing invalidates the deal.

Answer 2

WAIT WAIT WAIT!!! This happened to me too!! Are you saying you bought a car and then after you took the car home, the dealership realized they couldn't get a bank to finance your car???

You don't have to return the car unless you want to!!! The dealership becomes your creditor and you can just make your monthly payments to them. Email me if you want to know more, I'll tell you all about it. I got to keep my car and the dealership ended up cosigning my loan to a bank (but they didn't want me to know that!)

Answer 3

I would play hard ball with them,, If they hold your refund, you hold the car...thats reasonable.