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Purchased a car and was asked to return it 2 weeks later

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#1 eku_student_2012


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Posted 17 September 2012 - 03:49 PM

In June of 2012 I purchased a vehicle from a large dealership in my area. I signed all of the paperwork and as far as I knew everything was done. Two weeks after owning the vehicle the dealership called and told me to return the car because the finance company backed out of the deal! Prior to calling me to inform me of what was going on, they ran my credit several times to other finance companies. I was in the process of reestablishing my credit and would not have allowed them to keep running my credit. I returned the car and got my down payment of $3000 back. Is there anything I can do? My credit took about a 50 point hit from them running it so much. How was a deal done and then undone?

#2 FindLaw_Amir


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Posted 18 September 2012 - 01:41 PM

Why did you return the vehicle? Was the purchase contingent on getting your loan approved?
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#3 eku_student_2012


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Posted 18 September 2012 - 05:49 PM

I returned it because I wasn't sure of my rights. They never told me the sale was contingent on a loan approval. The paperwork I signed had the finance company's name, my finance rate, and monthly payments. They told me it was approved.

#4 Peppamint


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Posted 06 October 2012 - 12:16 PM

I purchased a car in June 2012 and they took the car back from me in September 2012, stated they did not have a loan but I had the same situation and I do not know where to turn and they have not giving my down payment back or payment for my tag and insurance. If you find help let me know.

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