My sister finance a car deal was done.. BUt the very next day they call threats to come repossess the car if she doesn't come in to sign abetter deal.... Now th?ey saying theirgoing to report the car stolen... Can they do this?? Just because she want sign a new contact
2 Answers from Attorneys
She may have thought it was a done deal. She needs to read her contract in detail (she should have before she signed) and see if there was a contingency for finding appropriate financing. If the financing could not be found, the dealer can demand the car back and the buyer has an obligation to take it back. It is called "spotting." We don't have her contract so we don't know if this is the case, but it is common. If the dealer just wants a better price, it is a different issue.
Your sister screwed up. Tell her to read her papers. She did a spot sale, which means she did the wrong thing and did not prearrange her financing at a bank before going to the dealer or make sure that the financing was approved befor she left the dealer. In these "sales" the deal is contingent on future approval, and when the financing is declined, she must return the car or do a new deal. So yes, if she doesn't come back in, she is a car thief.
Related Questions & Answers
I filed a police report for fraud and have filed in state court a suit to recover my... Asked 2/05/13, 10:02 am in United States Georgia Consumer Law
Can a car dealership change your agreement after you have sign a contract? Asked 2/04/13, 6:12 am in United States Georgia Consumer Law
I bought a motorcyle from a dealer in Georgia. I still haven't received the title Asked 1/24/13, 8:46 am in United States Georgia Consumer Law
Does a company have to disclose third party involvement? example bought from... Asked 12/29/12, 7:33 pm in United States Georgia Consumer Law
How many days do I have to change my mind after buying a car? Asked 11/20/12, 6:39 pm in United States Georgia Consumer Law