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He is guilty of fraud and is doing you no favor. If you allow this, then you are a co-conspirator in fraud. Surely this can only happen with your knowlege as you have to see, read and then sign the forms!

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โˆ™ 2005-02-28 12:01:37
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Q: What if a dealer over-reports your income in order to secure financing?
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Related Questions

Can a car dealer change his mind and get his car back?

They usually don't change their mind. What happens is a dealer sales you a car and lets you drive off thinking the purchase is complete when in fact they do not have the financing secured. This happens mainly on weekends and after normal business hour purchases. If they are unable to secure the financing they will want the car back or you to get financing of your own.

What are the difference between direct finance and indirect finace?

Indirect Financing: Like the name implies, indirect financing occurs when you go through another institution to secure your loan. In the auto industry, indirect financing entails working through the dealer to finance the purchase. The process is usually obtaining dealer financing, as the dealer does the loan up front and then sells it to a third party lender.Direct Financing: Instead of going through the middlemen to secure the money you need to make your purchase, direct financing allows you to work directly with lenders to secure the best terms and interest rate possible. Once you are approved for a loan through the lender they will give you parameters to stay within by use of a pre approval or even a voucher to pay for your purchase, allowing you to use the money you need to finance your new car at any dealership of your choice as if you where a cash buyer.

What do you need to buy a car from a Honda dealer?

Generally, most car dealers have credit and financing offers when it comes to purchasing a vehicle. The NJ Honda dealer that I frequent has a financial director to assist you with a safe and secure pre-approval process. My Honda dealer in NJ has access to millions of dollars of credit from a variety of lending sources. Dealers are usually able to provide you with a variety of financing and credit options even if you have poor or no credit. Check out the website of a Honda dealer in NJ like DCH Paramus Honda. They offer credit pre-approval online by simply filling out a quick application.

Why is it important to match the type of asset and the source of financing?

The non current types of assets are the most important to match the source of financing. They can be used to secure huge loans.

What is involved in invoice financing?

"Invoice financing, also sometimes referred to as factoring or invoice discounting, is a way for a company to draw loans based on outstanding invoices. The invoices act as an asset or collateral to secure the loan."

Secure a Business Loan?

form_title=Secure a Business Loan form_header=Expand or upgrade your business by securing financing for a loan. What is the purpose of the loan?=_ What is the name of your current financial institution?=_ Do you have any current loans?= () Yes () No

What options do you have in order to obtain a commercial mortgage financing?

The options when obtaining a commercial mortgage financing is to shop around to find the most competitive and secure rate. As well one needs to look at comfort level and ability to pay for the mortgage.

I require $1,500. I'm retired. I have secure income. Where can I go, that offers the above amount, but does not lower the amount when I go to the site?

If you have secure income please don't bother with a payday loan as you will end up paying ridiculous loan fees and interest. Instead try to secure a personal loan from your bank or credit union.

What solutions makes a good business financing?

Good business financing is achieved through solutions including various loan types, overdrafts, and lines of credit. These programs should be flexible and secure, and function with long-term business goals in mind.

Is a car dealership a secured creditor?

No, unless that dealership is of the buy and driver variety. Dealerships are that, a dealer in vehicles. Dealerships do not typically provide financing; this is typically the venue of the finance company. In the event the dealership is a buy and drive, then yes, they are a secured creditor. That is, of course, they are lax enough to not actually secure the vehicle they sold in the loan contract.

Need a loan to start a business?

There are varied types of business loans, newagebusinessloans is a trusted source for business owners and secure business financing problem easily.

Car purchased used -- previous owner could have made an additional key. Vehicle is NOT secure from access by previous owner and I need to change the cars compute code. HOW?

If this can be done to your car only the dealer can do it. The cost will vary from dealer to dealer and manufacturer to manufacturer. You will have to call the dealer and ask.

What is The best way for a student from a low-income background to secure funding for college is to receive .?

a need-based

Of importance are the key finance concepts to a student persuing finance?

Financial feasibility and credit score. If you can prove you can afford the financing according to current laws and regulations, you can secure a loan.

What is your planned in your future?

To grow professionally with a secure income and make a positive difference in the world. Live a happy and healthy life

What is the difference between a financing lease and a capital lease?

A financing lease occurs through a bank/lending institution where payments are made that charge interest. A capital lease is usually a lump sum of money put up by the buyer or an investor to secure the property based on the terms of the lease for a given period.

What is personal finance investing used for?

Personal finance investing is used for building capital. This capital may then be used to provide an income - possibly right away but more probably to secure an income in retirement.

What is the best way to secure property if renting and there is no guarantee of future income other than availability of student loan?

You may need a cash deposit to secure the rental, depending upon the landlord. Get a part time job.

Is a lender and lien holder the same how can I get vehilce from the second lien holder?

No. In the case of "brokered" loans especially the lien holder is the investor that holds the note. The lender is the broker that helped you secure your financing.

Learn Ways To Secure Loans With Bad Credit?

Poor credit auto loans are designed for individuals who are unable to get approved for loans through conventional sources such as banks and credit unions, because of their poor credit history. People with credit scores of less than 600 are often considered high credit risks and can find it extremely difficult to secure conventional financing. Bad credit auto loans typically carry much higher interest rates than more conventional forms of auto financing. In most cases, individuals who apply for bad credit auto loans are also required to make substantially larger down payments, sometimes as much as 50 percent, in order to qualify for a loan. Typically, the loans are funded initially at least, by the automobile dealer from whom the vehicle is being purchased. The dealer later sells the loan to a finance company that specializes in high risk financing. In order to be considered for poor credit auto loans, an individual typically needs to have a verifiable monthly income of between $1,200 and $1,500, have a steady job and be able to purchase and maintain insurance coverage on their vehicles. Most lenders also require borrowers to be able to show proof of residence and be either citizens or permanent residents of the country.

Can a dealership force you to return a vehicle if you already have a signed contract?

Spot Delivery Car Dealer ScamSounds like you may have been a victim of a "Spot Delivery." Car dealers will sell you a car and assume that you will be able to qualify for a loan. They will have you sign all the paperwork, take delivery of the car and you will believe you just bought a car. The dealer knows if they don't take a chance and put you in a car, the next dealer you visit will. They can now use this additional time to try and get your car loan "bought" by a lender.If the dealer cannot secure financing for you, they have no choice but to call you and have you bring the vehicle back to them. You most likely signed a different form amongst all your other paperwork that states you will bring the car back if financing cannot be arranged.To make matters even worse, the deal is not final until you and the dealer sign the contract, of course you sign the contract first then the dealer signs it later after it has been approved. Most car dealerships will not give you the copies of the paperwork you signed if you're not officially approved for a car loan.To read more detailed description about the new car dealer spot delivery scam follow the link in the "Sources and Related Links Section" below.

What are the green flags in financing a business loan?

We are often asked why it is important to build a strong business image and credit. There are two answers to that question. The first and the most obvious answer is that it is important to build strong business credit in order to Secure Business Financing. However, not all businesses require external financing; often entrepreneurs will refer to family and friends for startup capital. This is where the second reason, Emergency Financing takes precedence. If your business is experiencing strong growth such as a need to expand warehouse space, inventory, or work force, and the financing of such operation is beyond that which is available from friends and family, a strong business image and a strong business credit profile can aide in securing financing with lower rates and quicker approval times.

I need a home repair grant for heat & air unit?

do you help individuals secure a grant for home improvements? I am disabled with a limited income.

The us has sought all means possible to secure peace and security by doing what?

The US has established alliances with other nations. In addition financing concerns for massive ecoefforts to preserve the planet to another level.

How much do financial advisor's say you need for retirement?

financial advisers say you need 70-80% of your pre-retirement income to have a financially secure retirement. however, not all of the income will come from Social Security; it replaces only about 40% of pre-retirement income for the average worker.