Legal Question in Consumer Law in Georgia

Does an auto financing company have a minimum time period to void or cancel a co

My situation is that I purchased a car from a dealership and I was approved and drove home with it. Several days later my sales person at the dealership called me back. He was requesting additional information like employment and pay verifications. As usual I received a call from the finance company and they verified all my info., they went over my monthly payments and due dates and I gave them my insurance info. So, about 3 days later, the salesman calls me again and tells me that they were trying to see if they could get me a better finance charge and lower payments. So he asked if I received any add'l income. I said no. He told me everything went through okay, but from that day forward he called everyday almost. So, I got tired and ask the salesman to tell me exactly what was going on, finally he said that the finance company did not finance because I didn't make enough. The wanted me to make at least $2400.00 a month and the dealership said from their calculations I made enough, but the finance co. said I didn't. The salesman said that he couldn't get anyone to finance me, because of my credit standing. I took my car back. Do they have the right to do this after so much time pass (I had the car 1 month)?

Asked on 12/23/02, 4:51 pm

1 Answer from Attorneys

Charles W. Field Charles W. Field, Attorney at Law

Re: Does an auto financing company have a minimum time period to void or cancel

This too complicated to answer in this type of format because you need to consult with a local attorney who can sit down with you and review all the documents.

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Answered on 12/23/02, 4:57 pm

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