Legal Question in Consumer Law in Virginia
breach of contrac
can dealership call back in on deal that was made after almost a month being the trade-in was done and the expection sticker has ran out on trade-in not only that stated that income wasnt enough to satisfy loan when it is more than enough considering all income
2 Answers from Attorneys
Re: breach of contrac
Yes, if the purchase agreement for the vehicle contains language that allows the dealer to do it.
Such an agreement might include language to the effect that "this contract is subject to the buyer
being able to satisfy all required income qualifications for the loan required to purchase the vehicle described herein"---or something similar.
Re: breach of contrac
Yes, there is typically "contingency" language in the paperwork that allows the dealer to attempt to undo the deal. However, dealers also sometimes commit fraud in doing this. You should have an attorney review the documents.
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