What ifI purchase a car from a dealership and have it for a week and then they say the financing fell through?

Can a car dealership let you leave the car lot without the proper financing? I had to go back after a week and do the paperwork again for a higher interest rate and a lot bigger payment.

Asked on November 8, 2011 under General Practice, Oregon


MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you did not have guaranteed financing before you left the lot, then you yes you can take the car with a special document you sign that basically says if the dealership cannot find you financing, then you would be required to return the motor vehicle and the dealership has to refund your money. Now, if the dealership found financing for you with entity A and you signed all of the financing documents for the loan and you left without signing the first document I mentioned, then you have no reason to return the vehicle because the issue is now the dealership's and not yours. Contact the lender with whom you believed you had the loan and make sure you explain you already signed the loan documents and if the lender tries to back out now, it would be a breach of contract and you can sue for damages.

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