Legal Question in Credit and Debt Law in Michigan

This could be a yo-yo deal. Customers are the yo-yo in that they are forced to return again and again to re-do the deal. The newer deal will not be in your favor or the dealer might just want to churn the vehicle and reposses the vehicle. This is a classic scam so prevalent in Michigan that the Michigan Secretary of State made a rule in 2006 that dealers must be the creditors if the deal falls through.

If you signed documents where you were financing the vehicle and you then were handed the keys and drove off the lot, the financing is guaranteed by law. A dealer cannot call you up and tell you the deal fell through, or the financing fell through, or the bank didn't accept it. If that is in fact true (and sometimes it is not) then the dealer must finance you. You must pay the dealer your monthly payment.

You have no obligation to return the truck but you should take action to secure your rights because a dealer may make things up. Write down everything you heard and said during the sale. Make sure you keep all documents regarding the sale (all paperwork you received) at your home, do not keep them in the car. This includes any title you have as well. Make payments to the dealer. If they don't take payments it would be wise to document this in some manner. Take photos of the vehicle to establish the condition at the time and the mileage.

Dealers will tell you that you did something wrong or lied about something, but the real issue is usually that they didn't like the offer to finance received from the finance company. It is not always a denial for something about you. Sometimes financing was rejected but that is normally because the dealer dropped the ball by not conducting due diligence. Still that is their problem. Be careful though to ensure you make your payment on the vehicle and keep it insured.