If a car dealership has failed to finalize my loan after 4 weeks and altered my income info on the loan application, do I have any legal recourse?
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If a car dealership has failed to finalize my loan after 4 weeks and altered my income info on the loan application, do I have any legal recourse?
Upon purchasing this vehicle, I was completely honest with the salesman, stating my income of $2000 month. The salesman then changed this to $2400 and said eveything was fine. I assumed my credit was ran and OK’d as I signed the financing paperwork and was sent on my way. I had been asked to fax my paycheck info, which I did. Then 2 weeks later they asked for my W2 and a written explanation of my work history, which I sent. About 2 weeks after that, they want a co-signer but have failed to draw up any paperwork.
Asked on April 25, 2012 under General Practice, Arizona
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
You need to file a consumer complaint with the agency who regulates this dealer. Also consider filing a complaint with the state department of motor vehicles. Sounds like this entity is trying to pull a fast one on you. If you signed a spot delivery contract (you keep the car unless you don't qualify for financing), you must return the vehicle and the dealer must return all of your money.
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