I purcahsed a vehicle but a couple days later the dealer said my loan was not approved Can I just return the vehicle?In: Car Buying |
I'd like to know how the heck they let you drive off without having an approved loan in the first place. I'd say yes, unless you want the police at your house arresting you for grand theft auto, you probably want to return the car ASAP. You also need to get your down payment and trade in back if you had one. Contact an attorney if the dealership gives you any crap about refunding your stuff. It sounds to me like they're pulling some kind of shady stuff here.
your options
In the state of Florida, if the dealer cannot obtain financing, pursuant to the contract you originally signed, i.e. term, rate and payment, you can do one of several things:
A) You can accept new terms they may be offering, but are not required to. At that point you would either:
Attempt to secure financing on your own or return the vehicle.
You cannot simply keep it. At some point that would become vehicle theft.
First answer by Rubehayseed. Last edit by Rubehayseed. Contributor trust: 166 [recommend contributor]. Question popularity: 10 [recommend question]
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