Legal Question in Credit and Debt Law in Illinois

can a dearship pull the financing back, even after you sign all the paper work. What happens if you have the car for a few weeks before they say something else.


Asked on 2/24/10, 7:43 pm

1 Answer from Attorneys
Sal Sheikh www.BetterCallSal.com

YES and NO.

Read ALL the paperwork that you signed at the dealership.

In some instances you have a valid contract the day you sign and drive off with the vehicle.

However, some vehicle sale contracts have a clause that the sale is "contingent upon the dealership obtaining financing" on your behalf.

Most New car dealerships that may also sell used cars have this language in their contracts.

It has been my professional and personal experience that many small used car dealerships do not.

Read ALL the paperwork you signed.

Read more
Answered on 3/02/10, 7:05 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Illinois