What if you bought a car then two weeks later the dealership informs you that the bank would not approve the loan?
This happen to me; I went to the car salesman that sold me the car and demaned to talk to the car dealership owner. they told me it would not do any good to talk to him , I told them that they did not own the car but that he did after all it was his car lot, then I said w/ an slightly raised voice " YOU DO NOT LET SOME TAKE A CAR(truck in my case) AND TAKE IT HOME FOR A WEEK OR TWO THEN TELL THEM GIVE IT BACK> and if that was the way they did buisness I would never buy from them again and I would make sure that there comp. in the area heard about ,laso I woult make sure that a letter to the local paper would be on it way, and the talk radio in town would hear of it! they said to take the truck home and they would see what they could do for me. The next day early I think it was about 8:45 am I got a call and guess what they said that the owner of the car lot was going to buy it for me and I would make my payments the same as what was set up in the first place, and that they was sorry for the upset. then I got a dinner for two at Red Lobster in the mail from you guessed it The Owner/also got a b-day card from him that year! Something similar happended to me, at a used car lot in Queens, NY. They sold me a 150 point-check certified Honda, but a month a a half later the car died on me. I took it back and they said they could not take it because I already purchased it, AND that I would have to contact the warranty company. A month and a half later, the manager called me and stated the loan was not approved because I owed $135,000 in state taxes (which was actually $1,350.00, state made a mistake). I told him I was soorry and left him the keys ( I am glad to have gotten rid of that lemon) and since I put no money down, I drove it for free!!!! I now buy new cars! I bought a brand new acura on a lease and a week later, the sales lady called me and told me that i have to return the vehicle. Appearantly she sold me the car on a loan that was never approved. I brought the vehicle back and she told me that i can get that car financed but not leased. she said i signed the paper work and i cannot leave without buying that car or another car on their lot. It was not obvious at first, but she needed to meet her monthly sales quoto so she lied to me and tried to force me to buy another car from her. Luckily I just walked out of the dealership and didn't look back. I got the full down payment back too. so if the mistake was made by a greedy dealer who sold you a vehicle without pre-approval from the bank, then you can send the car back and get any down payment money.
I just bought a new car but two days later the dealership called and said i need a cosigner I found one and they have very good credit should my APR and monthly payment go down with a cosigner?
No because you applied for the loan with YOUR credit. For whatever reason (you have the right to find out why) the dealership decided you were too big of a risk to be granted the loan you requested. The purpose of the cosigner is that in case you mess up your cosigner will be responsible for the loan.
If you mean can the dealership take your car, if you don't make your payments. Yes. Usually the finance company will take your car, because the dealership has already passed your account to the finance company. If you have made a deal for a car that the dealership later discovers you don't meet the financial criteria, they will take your car back and offer you a lesser model for deal that suits your budget better.
You bought a van from a dealership they didn't have the title on the day of sale They later called and found it Was it legal to sell without having the title?
What will happen if you leased a new car and could not afford the insurance and returned it 2 days later to the dealership?
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