Legal Question in Civil Litigation in California
Can i know banks namebefore sigining a automobile purchae.contract? Whats the worst a dealer can do if i dont give them my paystubs?and if i sign the conract with dealer?
Asked on 12/30/11, 3:46 pm
1 Answer from Attorneys
Michael Stone
Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE
If I were buying a car I would handwrite it across the face of the contract: "Delivery of vehicle shall constitute final acceptance of financing." Otherwise you will get a call a week or so after you've taken delivery of the vehicle, gee, the bank won't approve your financing, or that they will only agree on new and different (and more expensive) terms. This is called a "yo-yo sale" in the industry. If you are applying for credit anywhere, the financing entity or dealership can certainly ask to look at your pay stubs. Pay cash if you can. But don't fall for the yo-yo game.
Answered on 12/30/11, 4:02 pm
Related Questions & Answers
-
Do i have right to know bank name before signing a contract? Asked 12/30/11, 12:17 am in United States California General Civil Litigation
-
What is an order 5 in a civil case management hearing? Asked 12/29/11, 8:31 pm in United States California General Civil Litigation