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.

Can i haggle with my finance company to pay off my car loan?

We bought a car in September of 2005, and we have a god aweful 22.75% interest rate.

it was a 60 month loan

We currently owe about 7700.00 on the loan

We have sold our house, and im in a position to just pay it off.

Can I haggle down to not pay so much of their interest, or what?

or shoudl i just sock the money aside (we are terrible savers) and auto pay the payments each month, to rebuild our bad credit

Im not sure, but it seems like if i dont just pay it off, im paying them a lot of unnecessary interest

Thanx

Can i haggle with my finance company to pay off my car loan?

you won%26#039;t be paying intererest on the amount owing if you pay it all off

you have to get a payout figure and that will reflect the change in the balance

Can i haggle with my finance company to pay off my car loan?

Car Loan Guide: http://carloanguide.automobile... Report It

Can i haggle with my finance company to pay off my car loan?

If you don%26#039;t pay it off you will be paying so much more in interest. Usually if you pay it off they give you a break. Just ask them!

Can i haggle with my finance company to pay off my car loan?

If you pay the loan off in full, all you owe is the balance of the loan. Interest does not come into play.

Can i haggle with my finance company to pay off my car loan?

It is so funny how we Americans never ever try to haggle. It probably will not work but there is absolutely no harm in trying.

Try haggling next time you make any big purchase like a TV ... or ESPECIALLY furniture. It can actually work and even when it doesn%26#039;t the stunned look on the salesperson%26#039;s face is priceless!

Can i haggle with my finance company to pay off my car loan?

yes, pay it off %26amp; you CAN hagle over the intrest and paying it off will still improve your credit rating

Can i haggle with my finance company to pay off my car loan?

While it is always good to pay off any outstanding debts, you really need to take a look at your loan to make sure there are no early re-payment penalties. Sometimes it is in the fine print people don%26#039;t see and get blindsided with it. There is always room to negotiate with the finance company because afterall they DO want your money any way they can get it. I%26#039;ve attached a link that may be helpful - I believe it contains the rules finance companies must adhere to.

You also mentioned you just sold your house and are not good at saving your money. May I suggest you speak with your bank or other financial institution regarding saving options or you may want to try 6-12 month CD%26#039;s. This is a way to save and make a small amount of profit on the side - it is also a deterent from spending your money for 6-12 months. Just something to thing about!!

Will a car dealer take my car on part ex and take the finance i owe, giving me both another car and

If i owe 鎷?000 on my car, and the car is worth that, could i trade it in and still recieve a part ex with cash?

Will a car dealer take my car on part ex and take the finance i owe, giving me both another car and cash?

Look at your contract with the finance company, many of them forbid you to sell the car while you%26#039;re still paying for it... others are ok with it but you%26#039;re still liable for the payments. A car dealer can;t take over the payments or pay it off. They also don%26#039;t give you cash when you part ex, they just knock the price they give you for yours off the price of the one you%26#039;re buying then set up finance for the balance... if you%26#039;re not paying the balance straight away.

You might be better off selling privately, using the cash to pay off the finance and then buying a new car.

Oh and remember, if you%26#039;re paying off the balance of your finance, they may charge you an early payment fee!

Will a car dealer take my car on part ex and take the finance i owe, giving me both another car and cash?

Don%26#039;t forget, if you take that advice, you will be breaking the law... Report It

Will a car dealer take my car on part ex and take the finance i owe, giving me both another car and cash?

NO.

Will a car dealer take my car on part ex and take the finance i owe, giving me both another car and cash?

Of course NOT - Why would they take a car worth 7k, with 7k still owing on it AND pay you cash??? Would you do it?

Will a car dealer take my car on part ex and take the finance i owe, giving me both another car and cash?

I doubt it very much. Wouldn%26#039;t make much sense

Will a car dealer take my car on part ex and take the finance i owe, giving me both another car and cash?

If you owe 鎷?,000 finance on a car, you are required to pay it back BEFORE you sell the car. By law.

No reputable dealer will buy or part-exchange a car with finance owing.

What is the interest rate for rolling over negative equity into a new car loan?

We are looking to trade in a car in which we have $3,000 negatvie equity onto a new car loan of $11,000...making the financing $14,000. Assuming perfect credit, what impact does this typically have on the interest rate of the new car loan, if any.

What is the interest rate for rolling over negative equity into a new car loan?

I was in this same situation. Depending on your down payment it should work as if the car you are buying is 14,000. The 3,000 doesn%26#039;t have a different interest rate then the rest of your loan. Hope this makes sense.

What is the interest rate for rolling over negative equity into a new car loan?

no Impact.I not sure of rates now but with a beacon score above 750 should pay from no interest to 3 percent. Sometimes local credit unions will have better rate than dealer.

If you go through a local bank for loan have check in hand. Go to dealer find car ask sales man for best price in writing.Tell them not worried of interest rate. They will quote a real low price but try and get you for higher interest rate. After you agree on low price in writing drop a check on sales man desk. And you have just screwed them over big. Don%26#039;t be surprised when they get rude and back out of deal.

Then need to reminf them of agreement on paper and threaton to take them to court

Can I "return" car??!!!!!!!!!!?

I bought a used car yesterday under no warranty. I signed the contract %26amp; financing stuff but didn%26#039;t take the car to my house yet. (I told them I%26#039;d do it tomorrow...which is today). However, upon asking a lot of people, I found out that the car has no resale value in the future %26amp; that I bought one that would eat a lot of gas up. Can I still %26quot;return%26quot; the car (even though it%26#039;s still at the dealership%26#039;s) even though CA has no %26quot;cooling off%26quot; period? But I never even drove the car yet!! Plz help me out!!!

Can I %26quot;return%26quot; car??!!!!!!!!!!?

OK, first off, there is absolutely no %26#039;cooling off%26#039; period what so ever on vehicle purchases once you take delivery of the car unless granted by the dealership. You can NOT change your mind and take it back within 72 hours. This is United States wide.

However, in your specific case, if you never touched the car, as in never drove it off their lot, then you did not take legal delivery. So, you can actually change your mind. This is the lone exception which is highly debated.

The dealership can and usually will threaten you, however if it went to court, they would most likely loose because the vehicle never left their possession. The laws about your situation are very gray and often misunderstood. Good Luck and I hope this helps.

Can I %26quot;return%26quot; car??!!!!!!!!!!?

You paid the down payment, you signed the papers, etc...so it%26#039;s yours. You could sell it back to them, but a car isn%26#039;t like a kid%26#039;s toy - you can%26#039;t return it without a warantee. Some dealerships have a 30 day money back guarantee on NEW cars, but rarely on used cars.

Can I %26quot;return%26quot; car??!!!!!!!!!!?

absolutely if the car is still at the dealer than you didnt %26quot;take delivery%26quot; and do not have to buy the car...just tell them you changed your mind and want your deposit back...

Can I %26quot;return%26quot; car??!!!!!!!!!!?

Yes you can, you have your own human rights to return something if you are not happy with it. Usually dealers give a 90-day warranty if your%26#039;e not happy with it. By the way, what car is it???

Can I %26quot;return%26quot; car??!!!!!!!!!!?

Sorry, but the car is yours. You signed the paperwork, you agreed to the terms. There is no %26quot;cooling off%26quot; period when buying a car. Car deals are final.

Next time, do your homework before you buy a car.

Edit: The 3-day right to cancel does not apply to auto sales. If you are solicited in your own home, you have three days to cancel a contract, this applies to sales like vacuum cleaners, home improvements, etc. CAR SALES ARE FINAL!

Can I %26quot;return%26quot; car??!!!!!!!!!!?

I thought you had 3 business days to change your mind. I don%26#039;t think it is just in a few states it%26#039;s a federal law. I hope so good luck!!

Can I %26quot;return%26quot; car??!!!!!!!!!!?

You may own this car.

Can I %26quot;return%26quot; car??!!!!!!!!!!?

read your purchase agreement... Most likely, you will not be able to return your car whether you took delivery or not... some dealerships have a 2-3 days return time table but most dont. Read your purchase agreement and it should tell you there...

Can I %26quot;return%26quot; car??!!!!!!!!!!?

. The consumer site below says, YES.

But you have to purchase a %26quot;Two-day return option %26quot; . But even now since you already signed the contract , you might be too late!

%26quot;...Used car protections

Two-day return option on used cars. You can purchase a two-day return option on used vehicles that cost $40,000 or less.

Never buy a car if you feel you are being pressured. But if you choose to buy a used car at a dealership, you can protect yourself by getting a return option. The dealer can charge you for this option.

If you get the option, you can return the vehicle by the deadline for any reason.

Tip: You can get the option for any reason, such as:

閳?You did not get the car inspected yet by your own trusted technician.

閳?You are buying the car 閳ユ竵s is.閳?%26quot; etc. ...

... So, go back to the Dealer NOW and BUY that Option!! It%26#039;ll cost you $75. Plus there%26#039;s a %26quot;Restocking Fee%26quot;.

Then the next day return the car , pay the %26#039;fees%26#039;, and hopefully it%26#039;s a done deal. !!

%26gt;%26gt;%26gt; http://www.consumer-action.org/english/a... %26lt;%26lt;%26lt; .

................. if the salesman doesn%26#039;t go for that, say you want a different car for the same price. Get a Honda or Toyota, fer god-s sake. .

Can I %26quot;return%26quot; car??!!!!!!!!!!?

You signed, so you can get sued by them.

Learn from this mistake and get info next time, salesmen take advantage of people who are not prepared to buy a car.

Can I %26quot;return%26quot; car??!!!!!!!!!!?

nope u bought it only law on that is lemon law that is if car keeps giving problems after short use

If my car and sales tax are financed can I deduct the sales tax on it?

Yes.

If you claim sales tax, however, you will not be able to deduct state income tax paid. Be careful to deduct which ever is highest.

If my car and sales tax are financed can I deduct the sales tax on it?

Whether it%26#039;s financed or not, you can deduct the sales tax IF YOU ITEMIZE. You have a choice of deducting state and local income taxes OR sales tax, not both, though, and if you are working, your income tax would probably be higher than your sales tax.

What would you do in my delima regarding a new car and owing money on a trade in?

i recently traded in my 01 tacoma for a smaller toyota yaris. i still owed 16000 on the truck and the trade in value was only 8250. i still owed 7750 which got added onto the price of my new car. my combined total for the new car was about 27,000 to finance. my bank would%26#039;nt even deal with me because the amount financed exceeds 20% of the cars value which is only 17,000. so toyota financed me and we wrote a contract. today i was told toyota cannot finance me because,like my bank, it is too much of a risk. i am in possession of the new car, they still have my truck...at least i hope they do, and i already have 1,000 miles on the new ride. i was told the only way it will work out for toyota to finance me is for me to put more money down which i dont have or for them to jack up my interest rate. what should i do? tell them to screw off because i already have a contract? what will happen if they want the car back with 1000 miles on it? make me pay for the wear and tear?

What would you do in my delima regarding a new car and owing money on a trade in?

They will not make you pay for wear and tear - it is partially their fault for letting you leave the dealership until they were 100% sure that you were financed. My hubby has been in the car business for 5 years and this happens all the time! Either let them raise your interest rate or take the Yaris back. IF you let them raise your interest rate, then pay it on time every month without a beat and in a year or so, you should be able to refinance at a lower rate! Good Luck!

Also - most dealerships let their employees drive new cars as demos and they put WAY more than 1,000 miles on cars and they are still considered new.

What would you do in my delima regarding a new car and owing money on a trade in?

Here%26#039;s a little piece of advice for the future: If you can%26#039;t afford to pay for something all at once, YOU CAN%26#039;T AFFORD IT!!! Get rid of the car..sell it or turn it in to the dealership...whatever you have to do. Then buy yourself a used car that%26#039;s about 10 years old. That%26#039;s all you really need anyway. You%26#039;ll spend less on repairs for an old car that you would in payments for a newer car, and you%26#039;ll actually OWN what you%26#039;re driving.

What would you do in my delima regarding a new car and owing money on a trade in?

This is a common practice of car salesmen. The put you in the vehicle with the high hopes it will be financed. There is a term for it, but it evades me at the moment.

I would take their car back and get your truck. You are getting way in over your head buying and trading these vehicles . Drive your truck till it dies (hopefully it will be paid off first). Then get yourself a new vehicle.

I would say it is the dealer%26#039;s loss on the 1000 miles you put on the new car. It was their mistake. If they don%26#039;t see it that way just use the magic letters %26quot;BBB%26quot;.

What would you do in my delima regarding a new car and owing money on a trade in?

no, stop, i was a new/used car salesman for GM over 3 years just recently left. the dealer is the one who wrote you up on a toyota contract, the boss of my dealer was like that %26#039;just write it up and well figure it out later%26#039; if they want the car they need to take it back and give you yours back free and clear. period. ive been the salesman in that situation and it sucks. tell them its their problem b/c you fulfulled your end of the deal. second of all...if you can get out of it...do it...all your doing is building up one ball of negative equity that will never end. sell it yourself ot try to do a lease on a vehicle with a higher msrp, vewhicles that are higher in price are able to %26#039;hide%26#039; that negative you have....a lot of people hate leasing but for you it may be best....however the fact that you tacked 1000 miles on it maybe not...but if you can...i advice to get out of it if they want you to. find some sucker to buy your truck and eat the rest...

ok i had to write again, just get out of it, sure a a new car would be nice, but man toyotas are money pits..they arent worth anything when you want to get rid of it down the road. i hated seeing people in your situation, so a lot of people i would tell to find an alternative. this is your chance to get out of it free and clear...do it for real get your $$ back and your truck and run away.

What would you do in my delima regarding a new car and owing money on a trade in?

i went through the same thing with a 2002 ford truck i simply gave back the truck and the dealer gave me mine back it happens all the time, they can not hold you responsiblr foe mileage because they thought they could finance you or else they would not let you take the vehicle. make sure they give you everything back (your truck and any moneys(down payment)and the contract is void.

What would you do in my delima regarding a new car and owing money on a trade in?

Shame on you you deserve the mess your in.

About all you can do is go back to the dealer %26amp; lay the cards on the table %26amp; hope for the best.

The best would be to get your old car back.

Once you by a car unless you have a large down payment you will always owe almost as much as the car is worth.

And once you drive a car away from the dealer the car can be worth less than you paid for it.