Legal Question in Consumer Law in California
Can a car sale and financing be revoked two weeks later and threaten to "reposess" the car?? They knew my w1040 income, credit report...and most cojently is they KNEW I had no one to be a cosigner. We signed contract for preapproved loan and they released the car to me. Two weeks later I receive phone call demanding I return the car. I question why? They say that "preapproval does not mean loan approval and the bank will not accept the terms".
Is this my problem ? can they do this?
2 Answers from Attorneys
Probably. It depends on what the contracts say. They will need to provide anything you gave them, including downpayment, and any trade-in vehicle.
Under the standard sales contract used in California, assuming that they used that, the question can only be answered with knowledge of the exact date they cancelled. If they sent you a letter, make sure you keep the envelope. If they only called, get your incoming call records. They only have 10 days to rescind, but it is VERY common (though illegal) for them to try to cancel too late.
Related Questions & Answers
-
My 18 year old daughter, on active duty in U.S. Coast Guard, is booked on American... Asked 10/25/11, 11:46 pm in United States California Consumer Law
-
Dear Mr. Stone-Molloy: I had three questions: 1. Will the new law giving the... Asked 10/24/11, 5:13 pm in United States California Consumer Law
-
Is it legal for a supplier to sell directly to a compeditor for less than whan I can... Asked 10/24/11, 12:48 pm in United States California Consumer Law
-
Hello, I am a customer of boost mobile cell phone company (owned by Sprint), and I... Asked 10/22/11, 1:36 pm in United States California Consumer Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
