Legal Question in Consumer Law in Georgia

Re: breach of contract

Read your documents again. Virtually all dealer contracts provide that the deal is not final until and unless they get approved financing for you. If you don't find it, ask them to point out the provision. In the unlikely scenario they can't do it, tell them you expect to honor the contract. Taking it back, if you have to, is not a repossession.

Re: breach of contract

Your post makes no sense. You indicate the dealer called you to return the car a day before you bought it. That's impossible. It is also unlikely that you bought a car today and got a phone call today either.

I'm going to assume you actually bought it previoulsy, and ity sounds like you messed up badly. It is always a bad idea to buy a car as you did.

The proper way is to get preapproved for a loan first, and THEN start car shopping.

In your case it appears you did a sale conditioned on being approved for financing, and took the car home before final approval. (We can't say that for sure without seeing the contract, but that is what almost all dealers use). In such a case you must return the car unless you can show up at the dealer with the full price in cash (which you could do with your own loan if you can get one immediately elsewhere).

The law does not require the dealer to reimburse you, but in some cases, depending on the contract, you may have a liability to the dealer for the use of the car in the interim.

You also will likely get pushed to accept a sub-standard loan at a much higher rate, if they can find that for you (and that is usually an even worse idea than letting the dealer find financing for you).