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After signing a car contract can a dealer say the bank did not approve you?
Wiki User
∙ 16y ago
Yes, the contract only gives the dealer the authorization to seek financing based on the terms of the signed contract. Read it closely to include the fine print. If for some reason the financing falls through the contract usually becomes null and void.
Wiki User
∙ 16y ago
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What happens if Seller dies after signing contract?
If a seller dies after signing a contract then the contract is terminated. In the case of real estate the property may go to the state, a bank, or the trustee of the will.
What to do if tricked into signing a contract for a personal loan?
phone your bank ASAP!
If you signed contract on car but did not pay can you get out of contract?
Having worked for many years as the director of the finance department in an auto dealership, I can tell you with certainty that signing must accompany "delivery". That is, if you both signed AND drove off the lot -- OR -- signed AND had it delivered to your home, then you own it -- you might as well start paying the bill. If all you did was sign but never took delivery, then the dealer cannot legally force you to take the contract or vehicle. If the dealer attempts to "get funded" for the contract (get the money from the bank who is financing your vehicle), then all you have to do is simply call the bank and tell them you never took delivery of the vehicle -- they will pull the funding immediately. Furthermore, if the dealer is requiring you to sign another contract, this is illegal. You can re-sign if you want, but the first contract is legally binding (assuming you also took delivery).
If the installment contract had inadvertently not been signed by the seller and the buyer wants out after three days is this a sufficient loophole for a used car contract?
The dealer typically never signs the contract when the customer does. The dealer principal does quite often. Sorry this is not a loophole, its still a binding contract. However if you signed an open contract where it doesn't say what bank anywhere on the contract its assigned to then a very good lawyer can help you. Sometimes dealers can have you sign a contact without getting an approval from a bank first so they can leave that part out for them to hand write it in later.
What can you do if the bank denied the loan for a new car which a contract was signed?
you might be screwed . . . any decent dealer will tell you upfront that you signed is on the condition that the bank accepts evrything, when I've bought a car before my dealer even has a disclamer to sign saying they have told me that.
What is subject to bank approval mean in real estate listings?
It means the bank has to "approve" the selling price before the property can be sold. The bank reserves the right to say no to any contract for purchase - even after the seller has accepted an offer. Usually means the property is a short sale or a foreclosure. Example, Mr. Buyer offers $500,000 for a house that is for sale. Mr. Seller agrees to the price and signs the contract. That contract goes to the bank for approval. The bank says No, we will not accept $500,000, we want more. Mr. Buyer and Mr. Seller now cannot go through with the sale of the house at the price of $500,000. Mr. Buyer can up his offer and try again, but the bank has to "approve" the selling price before the house can be sold. No bank approval, no sale.
If the car dealer lost original financing contract for the bank after buying a car 2 weeks ago and they want you to sign a new one can you use this to get out of the contract wo a repo on your credit?
A bank contract is only one of many things you signed when you intended to purchase the vehicle. The bank is the one to log the reposession so the dealers copy and the banks copy would have to be lost.
After signing a contract to buy a used car on what grounds can the dealer later deny the loan?
If the bank won't give you the loan for this vehicle. If your credit history is not good. You can sign all the contracts you like, but they will check out that person's credit history. If your credit is good then I would discuss this with the Manager at the used car dealership. If you went to a banking institution for this loan then contact the bank you were dealing with to see why you didn't get the loan.
Is it a repossession when the bank couldn't finance you and the dealer had to take car back?
GOOD question. Read the contract. Were you in default of it?? Why didnt you TAKE the car back? Why did they have to come get it?
How does someone apply for credit card?
One applies for a credit card by going to one's local bank, opening an account, and signing a statement or contract of some sort to open a credit card.
How does someone apply for a credit card?
One applies for a credit card by going to one's local bank, opening an account, and signing a statement or contract of some sort to open a credit card.
How do I finance a car loan today?
See any dealer and they will find a way to get you financed for a car loan. When I bought my car the dealer found me a loan, found me a decent rate, and the bank that I loaned through. I did not have to do any work other than signing the papers and paying the bill.
