Dealer taking a car back?

[02PewterBird]

A friend just traded in the 03 Mustang she bought in December on an 04 Mustang at the same dealer the other day and they told her when she left that they didn't know who she was financed through.

The saleswoman called her back a little while ago and told her that she needs a cosigner. I haven't read her paperwork to see if there's anything like "subject to loan approval", but I've never had anything like this happen before so I have no idea what to say. She doesn't want her parents to cosign, so can they make her take the car back or is it hers now?

[Big Tymer]

i dunno, but sounds like to me that if she has the car already, then the paperwork is done.... if not thats not her fault.... just have her threaten to get her lawyer involved..... see what they say/do

[zlexiss]

Edit: didn't read carefully enough.

Just make sure they aren't trying to scam her with Yo-yo financing or other scam:

Link here: The Yo-yo scam

Other scams

[Yaba3800]

i talked to a car salesman about this. they do it as a gag to get more money out of you. DO NOT FALL FOR IT. if she has the car its too late to change thier paperwork. a simple threat of a lawyer will sned them cowering

[Everglades W68]

I'm no attorney, but from what I've learned...

It is simple - it all is in whatever is in writing.

Unless she paid cash (in which case this thing would not be an issue), she had to have given the dealer some sort of promise to pay (ie, a loan either from the dealer or from a financial institution).

Either the written sale contains a contingency about financing approval or not. If not, then the dealer is stuck with approving a person for a loan that they would, in hindsight, rather have not done.

The paperwork rules everything. The Statute of Frauds (and Uniform Commercial Code section 2-201) generally require that contracts for sales of goods greater than $500 be in writing to be enforceable against the opposing party.

So go read exacly what has been signed.

[02PewterBird]

I skimmed through the contract quick in between bowling so I didn't get to examine it too closely, but one section I caught does say that the dealer has the right to cancel the contract and demand the return of the vehicle if they provide written notice within ten days.

She bought the car Monday and all they did was call her once, so I'm wondering if they'll actually provide it in writing. Could she be home free if they don't do that in the next five days?

[blackFbird_98]

I think that means that she has to return the vehical within 10 days of written notification

[02PewterBird]

Originally posted by blackFbird_98:
I think that means that she has to return the vehical within 10 days of written notification

I don't remember the exact wording, but the way it was worded meant within ten days of the purchase of the vehicle. That would give the dealer way too much power if they could get the car back on demand anytime.

[KBeezy]

If she has the title in her hand and its in her name, and she's not financed.. They ****ed up.

If she has the title, they're ****ed, tell em come and get it.

[2001 Green machine]

In CA there is always a contingancy on financing clause. Read the front AND back of the contract.

The dealer has about 14 days to get you financed or the deal falls through and you take the car back.

Most of the time you get a spot delivery, but the banks approval takes 3-5 days to come through. If the deal is not within the bank guidelines they make the dealer change it so it is or cancel the deal.

All perfectly legal if you read what your signing. No lawyer would touch it.

[KBeezy]

Yes, but if you have the title in your name you're pretty much good to go. We had a recent run in with this at a store locally. All the paperwork went thru and the guy walked out of the store with a brand new car for his $100 downpayment. His loan DIDNT go thru. Legally we had the right, thru the paperwork he signed, to repo it based on the fact that in the agreement he said he'd bring us the money thru the loan.. Didnt happen, so we took it back.

If there was no contingency like that in the contract and you have the title in hand it becomes very difficult for a dealership to try and take back the car [img]smile.gif[/img]

[2001 Green machine]

They will never turn over title in CA upon signing the paperwork, unless its a private party sale. All transactions are done through DMV via the dealer. Even cash sales you won't see the title from the dealer on the spot, DMV has to process the title change and its mailed in 3-4 weeks.

[KBeezy]

Dude, paperwork here in Michigan goes thru the office, thru the secretary of state, and mailed to the new owner if thru a dealer. [img]smile.gif[/img]

[3.4 slow to go]

Originally posted by 3.4 slow to go:
You need to see a coun...... lawyer.