I bought a car at a dealership, put $2500 down and financed the remaining $6500. I picked up the car 2 wks ago, the dealer registered it and told me the loan was approved, 1 wk later the dealer called and said the loan wasn't approved and I needed to come in and sign for another lender, which I did. They called today and again are telling me there is a problem with the loan. Can I return the vehicle and get my down payment back?
1 Answer from Attorneys
Very likely, you should be able to unwind the transaction but they will make it very difficult for you. I hope that the dealership you are working with is legitimate. The whole story sounds fishy to me.