WHy should they refund your money? YOU didnt complete the deal. You tried to buy a car knowing your credit wasnt good enough.
are you kidding me..... that is the worse answer i have read on this board. You should and WILL get your money back, if you dont i would start contacting news stations,and your local paper
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 get to keep the money.
That depends on the lender and how long you've gone without paying. Usually the process is that you are contacted by the dealership. Then it may be turned over to a collections agency and a lawyer. Then you may be sued for payment. If its a small private dealership and you have the car loan in your name and you're not paying for it, it's theft, after all. I'm pretty sure the dealership can't call and have you arrested but after awhile of contacting you for payment and the court trying to get you to pay, if you don't show up for court they can serve you with papers and/or have you arrested, yes. I appreciate your response, Yinzer. The situation is just an unfortunate series of events. I got the car loan at a small bad credit/no credit dealership (I have a history of unfortunate events.) I was struggling to make the payment, but remained more or less caught up. Then I moved across country with the anticipation of a better job. The better job never happened and in 4 months I have been unable to make the payment. My ultimate intention is to return the car to the dealership and face the music, but right now I am unable financially to make the trip back to the state where I came from. They are unaware of the move and I suppose that is how I have managed to avoid actual reposession until this point. I would contact them to be upfront about the situation, but they are going to want the car back and I have no way to get it back to them at this point. That's the story - thought it might help anyone else who has an answer to this question. Thanks again. You cannot be arrested for nonpayment of a car loan period.It is a civil matter between you and the lender.The police handle criminal matters.If you are stopped by the police they don't know and they don't care its not their problem. Indirectly, yes. Not for non-payment, but if the lender goes to court and gets a court order directing you to return the collateral and you still refuse, you can be jailed for contempt of court. But you must have really PO'd the lender if he will go to that trouble and expense.
If it hasn't been repoed yet, try to sell it yourself. You should get MORE than the lender will if they sell it. You will HAVE to do this with the lenders agreement. By all means, stay in contact with the lender and BE HONEST with YOURSELF and the lender. You are in a credit mess that will be hard to get out of. Is this a short term problem or a long term problem. Are you behind on 1 payment or 2 because you lost your job (long term) or you had unexpected expenses(short term).In the case that this is a long term problem you should try to sell the vehicle or trade down. Remember you may still have a balance to pay after you sell the vehicle. Should this be short term problem ie: laid off with return date,unexpected expenses (medical bills repair bills etc)you should contact you lender and see about an extention or deferment depending on the lender. An extention is where you would move the November payment to the end of your loan and your term will be extended by one payment. A deferment will move your November payment to the end of the loan and add it to your last payment. You will end up making a double payment at the end of the loan. these are 2 examples from 2 different lenders. Ford Motor Credit does extensions and Arcadia TranSouth Citigroup does deferments. Check with your lender they maybe able to help you.
Yes, you still can get the $600 stimulus payment for your 2007 income tax return. Form 1040X is Amended U.S. Individual Income Tax Return. Filing an amended return usually doesn't affect the stimulus payment. If the IRS receives your Form 1040X before issuing your stimulus payment, then your stimulus payment will be issued after your Form 1040X has been processed.For more information, go to www.irs.gov/newsroom for the article, 'Economic Stimulus Payment Q&As'.
I purchased a new car last July and had buyers remorse because of the monthly payment. I showed up the next day with car to return for something cheaper = Dealership said, sorry, no deal. Car cannot be returned, so I left very upset. I'm in Illinois and want to know if this was legal from them to do.
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