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Technically, a sale is not complete until money is exchanged. The law in some states is different though, and if you signed a contract PROMISING to pay, the contract defines the sale.

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βˆ™ 2006-09-13 03:34:15
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Does it hurt your credit if you turn a car back in to the dealer you have not missed and amnot late on your payment?


When does a car dealer have to report your last payment to the credit reporting agencies?

usually the lender does it every 3 to 6 months.

Dealer Financing vs. Credit Union Financing?

Dealer Financing vs. Credit Union Financing Use this calculator to help you compare financing between your credit union and low interest dealer financing. A dealer rebate, usually not available when you choose low interest dealer financing, combined credit union financing, can produce a lower initial loan balance, and in many cases, a lower monthly payment. The best option depends on the price of the vehicle, the size of the rebate and the interest rates available for financing.

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.

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

You cannot afford your truck payment can you sell it 2 dealer and get cheaper car?

i cannot afford my truck payment can i sell it 2 dealer and get cheaper car

Can a used car dealer repossess a car that is not in delinquent of payment but had late payment history?


What do you do if the dealer forgets to collect down payment?

sue him

Can it go against your credit if you don't make the first payment on a loan and give the vehicle back to the dealership before the first payment is due?

Yes....yes....yes..... The dealer will list it on your credit as "surrendered" or "voluntary repossession" and will go after you for a "cancellation" fee. If you don't pay that, they can post them on your credit report as well. Some dealers have a satisfaction clause, but it's normally 3-5 days. Beyond that, they are not obligated to cancel the contract, and can sue you for the remainder of the note. Some also try to re-sell your car at a reduced price, and sue you for the ballance of that as well. Either way, the result of them repossessing it for non payment or volutary repo, it will be put into your credit file.

If your car is repossessed by a 'buy here pay here' dealer does it affect your credit?

Only if the dealer reports it to the credit bureaus.

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 verbally or written. State laws may differ.

How long will a dealer hold a car with a down payment?

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.

Will my downpayment be returned if i returned my car to the dealer within 3 months?

Not unless there is some very special language in your purchase contract.

What does part exchange mean in car dealer ship?

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.

How do you get financing for a car?

the dealera banka credit union

How do you finance a car with bad credit?

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.

In backjack in a tie does the dealer get the money?

No, in this case it is a push and all bets are returned.

What should be returned to the manufacturer or dealer to be recycled?

Laser printer tone cartridges

What happens if a dealership does not pay-off your trade in in a timely manner and you get a 30 day late on your credit?

You petition the credit agencies to remove the "ding" from your history by showing them the paper indicating ownership of the old vehicle was made on such and such date. You have to prove that the car was indeed sold and accepted by the new owner (dealer) before the next regular car payment would have been normally paid by you.

Where can I find the cheapest car loans?

Before searching for the cheapest car loans, one should maintain good credit history. Then shop for car loans from a credit union or dealer and check for loan rates.

How does a person who makes very good money has a nice down payment get a auto loan when they are in a open chapter 13 we have the trustees permission and do not want to go to a buy here pay here?

you need to find a dealer and a lender that's willing to take a chance on you try a dealer that does a lot of sub-prime credit deals. It may help if you had a auto loan before and that your 13 has nothing to do with an auto lender.

Can a dealer refuse an 1800 down payment if no contract was signed?

A dealer can do whatever they want, they are not legally obliagted to sell you any car.

Can you use a boat for a down payment on new car?

Sure if the dealer will accept it.

Can a new car be returned to the dealer if the dealer cannot deliver contracted upgrades to the car?

The car should have never left the lot until the upgrades were completed. But yes, in this case, the car should be returned, and you should get all your money back.

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 get to keep the money.