CAN A FINANCE COMPANY CHANGE DECISION AND PULL OUT OF A CAR DEAL?

Bought the travel lorry from internal dealership as well as after all writings were sealed as well as finalized my financial association wants me to spin the lorry behind in since they altered their thoughts as well as will not authorize the loan. So can the financial association shift their thoughts after paper work as been finalized as well as completed?
State of Texas

{ 6 comments… read them below or add one }

Doc. justasinner111 October 14, 2010 at 7:07 pm

Yes.Dealers sometimes lie to get you into the car .

mybuttstinks2008 October 14, 2010 at 7:21 pm

I don’t think so. What state are you in?

The Eagle Keeper October 14, 2010 at 7:25 pm

The dealer will eventually have to take it back because the lender won’t pay them for it. So they’ll want it back so they can sell it again later. Just drive it up & hand over the keys. Tell them here’s your crap back.

The Auto Evaluator™ October 14, 2010 at 8:18 pm

Yes.

A deal is not finalized until it is funded by the lender. Dealers often roll cars out of the dealership without an approval. It’s unfortunate, however a contract is not valid until the deal is funded (different from approved). Good luck.

ElGrande October 14, 2010 at 8:48 pm

Eagle Keeper is dead-on correct.

It’s not funded ’til the lender signs off on the deal. The credit crunch right now has caused this quite a bit.

jay October 14, 2010 at 9:36 pm

The finance company never approved it to begin with. The dealer made a judgment call based on your credit and decided that a bank would buy it. Unfortunately this is happening a lot lately. Dealers think they can get someone bought, roll the car, and the lender will not approve the deal, so you’ll have to take it back, sorry.

Good dealers will not do this, I won’t even set you up for delivery without proper approval from a lender, so when you buy a car from me or many dealers like mine, there are no worries.

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