Car dealer forgot down payment?
The car dealer is not required to collect a down payment. The finance company is the one who usually asks for it. If they desire a down payment, they will contact you to get it.
How long a dealer will hold a car with a down payment depends on the dealer. It is a good idea to get a time frame in writing. Some dealers will sell a car within a couple of days if you do not complete the transaction.
If you fail to complete the deposit for your down payment but are already financed and making car note payments can the car dealer repo your car for the remaining down payment?
This is not your car. The down payment enables you to have the privilege of a contract. So, pay up.
You signed a contract for a used car the car dealer still has the car you have not given your down payment can you get out?
I THINK SO. THE CONTRACT HASN'T BEEN COMPLETED UNTIL THE DOWN PAYMENT IS MADE. HE'LL PROBABLY VOID THE CONTRACT FOR FAILURE OF PAYMENT.
Sure if the dealer will accept it.
What can you do if you made a down payment on a car but after a week the dealer told you there was a lien on the car and could he be getting a better deal and what are your options?
I believe you can get your down-payment back if you do not have the car. But, if the dealer is doing that to sell the car after you have made a downpayment (depending on what the contract/receipt states) then you mave have legal options against the dealer. Some lawyers have free consults. I would contact a lawyer for free consultation before getting my down-payment back because the dealer may have breached a prior agreement/contract, whether… Read More
A dealer can do whatever they want, they are not legally obliagted to sell you any car.
They'll either keep it, pass it on to someone else, sell it themselves, or trade it in towards their new car.
You cannot make the rest of the down payment and the dealer wants the car back do they have to give us back your trade?
In Chicago, IL if your car is repossed by the dealer do you still have to pay back the money for the car?
Depending on what you signed when you made the down payment, yes. Take a look at any papers you signed. Depending on the size of down, take them to small claims court.
If the car has problems that the dealer cannot or will not resolve can you just release it back to the dealer if they haven't received a payment?
Yes i will release the car back to the dealer even if i did made a first payment. Sandile
i cannot afford my truck payment can i sell it 2 dealer and get cheaper car
It means that the dealer might accept your car as a part of payment but of course the dealer and you have to agree on a price for your car.
It will depend on the terms you have with the dealer. If all of the down payment is going to principal on your car then you would subtract that amount and that would be the amount left on your loan. If only a percent is applied to the amount then subtract that percent from the amount.
A car note is a car payment...paying a portion of money you and the dealer agreed on the car you bought.
What if you have agreed to pay 900 deferred down payment and you can not make payments so they repo car do you get your 1100 you already paid back California?
btw the dealer never got deal bought by a lender because down payment was not paid is partial deposit refundable?
Yes, of course. But the dealer will only do a trade this way if your car is worth much more than the car he is selling to you.
Car insurance companies do not require full payment upon acceptance. They do however ask for a down payment. If you go through a 3rd party you maybe able to get car insurance without a down payment.
Can a car be repossessed if you are late making the remainder of the down payment but have been on time making the car payment?
YES, making the down payment is part of the contract and you are in default on it.
The first thing you do is to figure out the amount of money that comes into the household monthly. Next how much is spent out on various bills, etc. then figure how much is left for a car payment. Next figure out the down payment. The higher the down payment the lower the monthly payment. Begin checking out cars in your pay range. If you go with a dealer check on rebates. Take the full… Read More
Buying a new car can be very exciting and very expensive. The down payment for a car is dependent on the buyers credit, how they are planning on financing, and the lot in which the car is bought. A down payment for a car can range from $50 to $2-$3,000.
Interest and down payment.
The car will probably be repossessed.
Sometimes you can still finance a car from a dealer with poor credit but with a higher interest rate. There are also independent car lots that will finance a car for you. The only drawbacks from an independent car lot is they usually charge more interest and down payment.
Depends on your jurisdiction. If you're late on a payment for just 1 month, it's legal for the car dealer to repossess your vehicle, but 27 days seems a bit uncalled for.
No, and why would they? If the payments are up to date and have been made on time, there would be no reason for the dealer to repossess the vehicle.
If you co sign on a car the signer can't make the payments the down is not fully paid it was bought at a dealership the actually has the title in their office can you give the car back?
The way I would "get myself out" of that deal is to call the bank who financed the car, tell them you don't have the down payment money and don't want the car. The dealer will probably let you out of the contract. Banks don't want repo's and it reflects badly on their business partner, the dealer.
If a car payment is due on the 14 but a payment will not be made until the 29 can the dealer repossess the car in Georgia?
YES, if you are in default of the contract, the collateral can be repossessed. Read your contract again.
Yes, if you pay your car payment at a car dealers office they will charge a late fee. Anytime a payment is late, the dealer has a tight to charge late fees.
When you put down a down payment the price is already set. You must get them to come down before you agree to purchase which is what your down payment represents.
Can you back out of a car deal after the papers are signed but the cash down payment was not given and the car was NOT taken off the lot?
More Than Likely. As long as the papers have not been sent in or filed on a government PC, then there should be no problem unless the car dealer is obstinate and problematic.
The average cost of a monthly car payment is $250. Of course the actual amounts will differ depending on the value of the car, and the amount of the down payment.
A dealership can only repossess your car if you do not pay in accordance with the sale agreement. If you did not pay the agreed down payment, the car may be repossessed.
That depends. If this is a car that you've had for a substantial amount of time, and if the dealer has already "cashed" the contract and has been funded from the lienholder, then the answer is no. Once the dealer receives funding for the car from the lienholder, the lienholder is then transferred the title. Only the lienholder can repossess your car for non-payment. This isn't to say that the auto dealer can't press criminal… Read More
That depends on the dealer, car, and interest at the time. Prices can range from $99 up to $399 a month.
It is applied directly against the purchase price of the used car. The more you down payment, the less owed and the lower your monthly payments will be.
ya of curse you can use the upside down car loan for buying a new car...
Can a car dealer repo your car if 720 towards the down payment is owed yet chase auto finance has financed it?
A dealership can never repo a car, the bank is the party which would because you owe the BANK (aka chase auto finance) because u financed through them.
Contracts generally need two signatory parties.
It totally depends on which country you are from. Check the Terms and Conditions of the contract, which you should have done BEFORE you signed it. Some dealers will not refund a deposit or down payment.
If they signed a contract with the car dealer and they failed to make payments, then the car dealer or bank who ever has the title is legally entitled to the car for lack of payment. So yest it is illegal to hide a car that is going to be repossessed.
Can a car dealership cash your check that was used for down payment if you were never approved for financing?
A check given to the dealership will be cashed. This is normal in business. Whether they can keep the money or have to return it is based on what your purchase agreement reads. Where I live if the purchase agreement has "Subject to financing" on it the down payment must be returned if the dealer can not get you financing and you can't get outside financing. If it does not have that in it they… Read More
You make more money than you spend and put the overage in savings. If you're not making enough to save the down payment then you're not making enough to afford the car.
Is there a car-buyer's remorse law in North Dakota if the only agreement or contract is a credit card down payment is made over the phone?
There is no buyers remorse or cooling off period on the purchase of an automobile. That is nothing more than a myth. You have not signed any papers yet, so you have not bought the car. You may loose the down payment, but I would not think you will have to go through with the purchase. As the dealer if you can back out and see what happens.
If you sign a promissory note for a down payment on a car and they do not sell you the car is the note still valid?
If you signed a promissory note and the person decided not to sell you the car, you do not have tobpaybthe down payment. The person has already voided the promissory note by not selling to you.
Most dealers have you sign a "spot delivery agreement" (usually within the contract) that states if they cannot get the amount financed from the bank for any reason then you are obligated to pay the amount in full or return the vehicle.
Your friend wants to borrow 15000.00 for a down payment on a car any sort of legal papers you can draw up so you dont become just another user?
Personally, if someone needs 15000.00 for a down payment on a car then they cannot afford the car they want. I wouldn't lend this money. Not even to family. 15000.00 would by a new car for anyone. I have to know: what kind of car is this that needs a $15,000 DOWN payment? That's like, 20 percent down on a $75,000 Mercedes!
Depends on which Chevy you buy, what your pay for it, down payment or trade in, and how long you finance it for.
usually the lender does it every 3 to 6 months.
just the opposite. If you finance the car through the dealer, he will realize a portion of your interest payment so the possibility of a discount is there.