Can the car dealer ask for my new car back??

Question

I've had the car 13 days. They told me I was approved and everything was fine the day I bought the car. I didn't know there was a problem with the financing until today. And I only found out today because I called to ask they hadn't paid off my trade in. Then they said... oh, yeah, there' a problem. We need the car back. Can they do that? I can't believe they didn't tell me and the only reason I found out is because *I* called.

Answer 1

if you didnt sign the section on contract that says dealer has _ days to cancel deal and its registered and insured in your name legally the dealer is now the bank make payments to dealer keep copies of everything and maintain possession especially if you little to lose like no trade and little or no money down theyll tell you otherwise because this is a very strenuous task for a dealer when consumersw know there rights !!!!!

 

Answer 2

There are many reasons the car dealer can ask for your car back to many to list but i will go through a few, for 1 if the bank doesnt fund the dealer on your loan they will ask for it back, when you get an approval from a bank you are approved unless after the deal is sent into to the bank and they find something to not be correct on your credit app,maybe you said your rent was $600.00 and it was $1200.00 that sends your debt to income ratio off,maybe you said you make $2500.00 per mos and when they verified it through your employer your income was $1600.00 per mos again debt to income ratio off.To many people wanna blame the dealer these days when they really need to put accurate info on the credit app so these problems wont happen,also maybe you put down you worked at your job for 2 years and when they verified it through your employer the put down employed for 8 mos there are so many reasons why a loan can be kicked back and leaves the dealer fumbling to get you approved the last thing a dealer wants to do is take back a car cause then they lose out just as you do.
Hope this has been helpful.