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The first and most effective thing you can do is to report Fraud on your account, and have your account number changed; If the "pre-auth" was made to a Debit or Credit card attached to your account, this is even easier: you report your debit/credit card as lost/stolen and get a new one.
once you do this, it doesn't matter how many times the company tries to put through a payment, pre-authorized or not, because there is a STOP on that particular card. In the case of your account number being changed- they cannot put any payment through on a closed account. Changing your account numbers is a little more difficult, but if you claim that a checkbook was stolen they will usually change the account number for you (basically opening a new account). They should do this since your account information is on the checks, and anyone who has stolen them can setup "pre-authorized" payments to your account.
What else can I help you with?
Can a dealership legally keep your down payment?
In most cases, a dealership can legally keep your down payment if you back out of a purchase agreement. However, the specific rules may vary depending on the circumstances and the terms of the contract you signed. It's important to carefully review the contract and understand the dealership's policies before making a down payment.
When signing a new contract does the dealership have to give the buyer a 45-day grace period before the first payment?
No.
Can car dealership keep your down payment after returning the car?
It depends on how the contract was written. It also depends on the laws of the state and the condition of the car when it was purchased.
What does preauthorized transfer mean?
A preauthorized transfer is a recurring payment or transfer that you have authorized a financial institution to make on your behalf, such as automatic bill payments or direct deposits. This authorization allows the institution to withdraw or deposit funds from your account without the need for you to initiate the transaction each time.
Can a dealership take back a car due to miss payment?
If you are purchasing an automobile can the dealership file a warrant for your arrest if you miss a payment?
What should i do about a car contract from a used dealership I made it clear that i did not know if i could came up with the down payment now their giving me a hard time. What should i do?
By taking delivery of this vehicle you are agreeing to the terms of the contract. If you could not meet the down payment requirement then you should have never taken delivery. You can try talking to them to work out a payment plan of some sort.
What does pet stand for on a bank payment?
I can't say for sure but according to my research the most likely candidate is Preauthorized electronic transfer. Check the payment again and see if you have set this up at your bank or online for a preauthroized fund transfer.
Can a dealership repo your car for stop payment?
Yes they can.
Does excepting payment make a contract?
No but accepting payment does.
Can a dealership file repo on you if you didn't make a down payment?
If the dealership holds the title (Buy Here, Pay Here) then yes. If the bank you financed it with already has the title and you have your tags, then no. The dealership can, however, place a judgment on you for the amount of the down payment.
Do you need to buy a car if you signed for it but haven't chosen a color and have not taken it out of the dealership's lot?
If you signed a contract with payment agreements, you own the car. There's no 3-day cancel rule that applies to vehicles.
What stuff do you have to pay when you are going to get a new car at a dealership?
You will need to pay a down payment when you get a car at a new dealership.
