Q: Bought a used car but then received letter from bank saying denied financing.
Husband and I bought a used car in October. Paid $800 and signed all the paperwork. Got told what bank we are financed through. Did not get a bill or registration. Called dealer multiple times and he ignored us or said he will look into it, nothing. Got a letter from supposed finance company saying we were denied. We’ve had the car for over 2 months and dealership has not contacts us and won’t return our calls. We have full insurance on it too. What do we do?
A:
You should speak with a consumer lawyer as soon as possible. If you haven't made any payments you risk damaging your credit. (I also urge you to obtain your current credit reports - the lawyer will want to see these.
You are likely a victim of a "spot delivery". Whether you have legal recourse depends on a thorough review of the facts and your purchase and finance documents.
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