Legal Question in Business Law in New York

I purchased a vehicle from a dealership at the end of June. I ad ben preapproved for a loan went over picked out the vehicle, put a cash down payment on the vehicle signed all the paperwork and left under theassumption everthing was done and correct. I recieve a phone call from the dealership stating that the creditor needed a copyof my child support order which I faxed. two weeks later the dealership calls me and states the loan was not approved and i need to find a way to pay for my car. Now they have my money the car is registered and insured to me what do I do I have no loan to make my payment and they are threatening to come and get my car. HELP !!!!!!


Asked on 7/27/11, 6:52 am

1 Answer from Attorneys
Christopher Moye The Law Office of Christopher Moye

I have seen this problem in the past. Some dealerships actually specialize in taking people's money this way. The quick answer is that there are dishonest dealerships that will keep your down payment or they will charge an exorbitant mileage fee based on how much you have driven the car.

This is nothing to wait on. Hire an attorney ASAP to work through this situation. I'm not saying that the dealership is dishonest but you need to find out if they're going to return your cash payment.

Again, this is incredibly common and I have always heard horror stories from car buyers who waited too long to hire someone. In most cases, the car buyer lost their entire down payment and the dealership took the car leaving the buyer with absolutely nothing.

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Answered on 7/27/11, 8:07 am


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