What do I do if my auto financing falls thru and the dealer tells me that my trade has already been

So based on my question here:

http://answers.yahoo.com/question/index;...

I am thinking that something is up with the dealer financing that I got for the new car and I am not willing to move forward with any deal other than the one that I signed up for when I got the car. My question is, can the dealer sell my car before the deal is finalized? Meaning, if I go back and don%26#039;t agree with the new terms that I%26#039;m offerered and then the dealer tells me that my trade has been sold, what happens then?

I doubt it%26#039;s been sold already. It%26#039;s only been a week but I%26#039;m wondering what options I have if the deal falls through and I don%26#039;t want to move forward with the new terms of the loan that they offer me.

What do I do if my auto financing falls thru and the dealer tells me that my trade has already been sold?

That is usually just a scare tactic. They want control of you. If they did in fact sell your trade in, they will have to pay you the amount that they showed as a trade in allowance on the original agreement...which is usually an inflated amount to show the lender you have more to put down (a good situation for you). Please realize you are in control to a certain extent. You do not have to agree to whatever they say. The only thing you are bound to is the original agreement. Anything else will void the deal and hold you harmless. It is up to them to make you satisfied, not the other way around. Your other post said you would love to get out of this deal because the car isn%26#039;t running right....the one you are buying? ....if so, pitch them the key and tell them you don%26#039;t want the car. If your trade isn%26#039;t running right, let them pay you the trade allowance for it. I see nothing but up side financially here. They will have to refund your down payment as well...car dealers HATE the thought of giving money back...so ask for that as soon as you see them, take control of the situation and don%26#039;t fall for their pressure. You are the customer and you deserve to be treated better than this. Show them that if you have to walk away from this situation, you have NO PROBLEM doing so. Being in a tight spot for transportation in the short term is much better than being in a tight spot financially for a long time. Good luck!

What do I do if my auto financing falls thru and the dealer tells me that my trade has already been sold?

This sounds strikingly like the same situation a person I know is having problems with......accept they actually did sell her car, she has possession of the dealer%26#039;s car, her financing fell through, and now she is fighting with the dealer so she doesn%26#039;t get screwed because they want the car back........but don%26#039;t have hers to give back.....be very very careful!!!!

In other words, get a lawyer!!!

What do I do if my auto financing falls thru and the dealer tells me that my trade has already been sold?

Since it%26#039;s been a week, there%26#039;s a good chance that your car has been sold. Generally trades are not sold %26quot;on the lot%26quot; they are taken en mass to the local auction. At this auction, the local smaller used car dealers buy them to restock their lots.

As far as the deal you initially worked out, you may be out of luck since your financing fell through.

Try a few more banks before sighning anything with the dealership on %26quot;dealer financing%26quot;.

Don%26#039;t worry about your credit report, a new law prohibits your score from going down simply based on the number of inquiries. Basically, if the same type of lender inquires, it counts as one hit, no matter how many different lenders check within a certain time frame. This was to prevent sub-prime home lenders from artificially dropping your score so they could get the higher intrest rate for a bad score.

What do I do if my auto financing falls thru and the dealer tells me that my trade has already been sold?

Tell them they sold you a car and you were told it was all done. If they don%26#039;t want to honor the original sales agreement you want full retail for your trade in. If they do not immediately agree then tell them you are contacting an attorney.