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You should consult a local attorney, because laws vary from state to state.
In California, for instance, a dealer has a certain amount of time (a couple of days) to notify a buyer if a loan does not go through for some reason and instruct the buyer to either return the car or sign new paperwork for a different loan. If the dealer does not notify the buyer within that time period, then according to law the dealer must honor the terms of the loan as originally stated, self-financing if necessary.
However, in practice, the dealer may decide to reposess the car anyway and hope you don't sue, so unless you got a really good deal on the car originally, it's probably not worth the hassle.
What else can I help you with?
What errors on indirect loan papers can RV dealer make you re-sign?
If you are purchasing an RV, you may be asked to re-sign the loan papers if certain errors are discovered. These could include any errors that will change the loan amount or the term length of the loan.
How do I finance a car loan today?
See any dealer and they will find a way to get you financed for a car loan. When I bought my car the dealer found me a loan, found me a decent rate, and the bank that I loaned through. I did not have to do any work other than signing the papers and paying the bill.
How can you get the papers stating that you have a deferred loan?
Contact your loan holder.
What happens if your car loan is approved but you still owe the dealer money?
You will have to prove to the dealer that you are waiting to get the money. Show the dealer your loan approval documents.
Is their a 3 day right of recision in Tennessee in auto buying?
To my knowledge, "The right to recision" only exists (with a car dealer) if you were to complete your purchase off-sight, that is not on the automobile dealership's property. If you sign all of your papers at the dealership, there is no right of recision. However, if you signed all of your papers (at the dealership) and did not physically take "delivery" of the vehicle, that is left the vehicle at the dealer, the sale is not completed. The reverse however holds true too for the client. Let's say a client signs all of their loan documents on an automobile (at the dealership and is given copy's) and takes delivery of the vehicle; If the loan is then declined by the finance institution that the dealer may use, the dealer is bound to the contract and has to guarantee the loan. In other words, the dealer can't back out of the transaction either.
Can a dealer collect on repo unpaid balance?
Yes - if the car loan was with the dealer, the dealer can sue the debtor for the balance of the car loan after the car is sold to someone else.
How can a minor get a car loan?
A minor can not get a car loan ithout a parent signing the papers.
If you fill out a loan application and you don't sign the loan papers do you owe interest on the loan?
Get Now!! http://money-moneyloan.blogspot.com
If you are the co-buyer on the car is the loan in your name also?
IF your name is on the LOAN papers, you are the co-signor and responsible for paying the loan if the debtor doesnt.
Are you responsible for the difference of equity on an upside down mortgage?
Yes, you are responsible for the loan amount (you signed the papers for the loan)
Can a bank foreclose on half a mortgage?
I have a 250,000.00 back loan on a business and there foreclosing for 140,000.00 and wont me to sign to resign a loan that was collateral property put up for the one there foreclosing on me and my father was on the loan and he passed away 30 day ago
Are your parents responsible for your student loan?
If it was taken out before you were 18, it's your parents. After that, it depends on the kind of student loan, and who signed the papers.
