Auto dealership gave me a new car and now cant get me financed?

Question

I traded in my car and the dealership sold me a new car. We signed papers and thought that was it. A week later I get a letter in the mail from a credit union saying they couldnt finance the loan. The dealership didnt call me until the next day and said "they forgot to have me sign some other papers for financing." I dont think this sounds right. What dealership would let somebody take a vehicle off their lot and forget important paperwork like that? I feel as if this may be a scam. If anybody has some good advise please let me know.

Answer 1

This is a typical ploy to get you to do anything to keep that new car. They will say they can get you financed, but the contracts will need to be redone at a higher interest rate. Don't fall for it. Tell them you want your trade back and any money you gave them as a down, then go elsewhere.

Answer 2

they make sure you sign your life a way practically lol before letting you walk out that door with the car.

it is known for a finance company to not get the person financed because the dealer gives you the deal but when you walk out that door the financing isnt set in stone. so it is possible for financing to fall thru.

find out what form it is they want you to sign. talk to a finance person, or call the bank in which you were suppose to get financing and see why your financing fell thru.

its a chance they want you to sign off that you cant get your old car back, you need to try for a new car, or retry a new loan.

else your just going to have to take the new car back and hope you can get financing for another new car. because more than likely your old car is long gone to get resold, or shipped out because they wont be able to sell it.

best of luck with your car

Answer 3

they probably offered the loan to a bunch of lenders, one turned you down, you have to sign papers for some other lender.

Answer 4

They wouldn't...