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If a person buys a car but the dealership cannot obtain financing and wants the car back will they refund a 2500 dollar downpayment made to them?
Wiki User
∙ 8y ago
Bill, it is NOT up to the dealership to get financing. YOUR CREDIT can be such that NO one can get you financed at any DP, or interest rate. READ your contract closely. It likely covers such a thing happening.
A similar scene happened to a friend recently. Yes, the money should be returned b/c without financing, there is no contract. Without the contract, no "deal" has been made.Your car and all monies exchanged should be returned. In his case, the dealership sold his trade in and made more money from it than they gave him for the car. They actually had to pay him more than his car was worth in the first place,which he used for a downpayment on another car. Don't let them trick you into anything. Good Luck
Wiki User
∙ 8y ago
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