Legal Question in Consumer Law in Virginia

Auto financing

I purchased a car on saturday and was approved for financing and drove the car away that day. Now, four days later, i get a call saying they are going to reject my application. Can they legally do that after i was approved and have the car in my possesion?


Asked on 1/30/08, 10:27 am

1 Answer from Attorneys
Emmett Robinson Law Office of E. F. Robinson, PLLC

Re: Auto financing

Yes. Sometimes it's part of a scheme to get the car back and put you into one of their inferior cars -- sometimes it's to get a higher interest rate or even a higher price. It's call a yo-yo sale.

Read more
Answered on 1/30/08, 4:44 pm


Related Questions & Answers

More Consumer Law questions and answers in Virginia