Time for a lawyer. or police report

time for lawyer

Once the contract was signed by both the customer and the dealership and the customer has legal possession of the vehicle, it is too late for Toyota credit to make further demands upon the customer. If Toyota reports the vehicle stolen, the customer has a good civil case for wrongful prosecution.

hire a lawyer and let him/her contact the dealer

You do not actually ask a question, but I will assume you are asking who is in the right in this situation. Unfortunately for you it is most likely the dealer. Most dealers do not extend credit themselves. Instead, there is a third-party creditor that issues credit. Thus, what usually happens is the dealer will get preliminary credit information to see if it is likely you qualify for a loan. Based on that, they will have you sign a credit agreement and sell you a a car. However, the contract for the sale of the car makes the sale contingent on you being approved for the credit terms by the actual creditor. Thus, the answer to your question ultimately lies in your contract. If there is a clause that makes the sale contingent on approval, then you are stuck. And again, most dealers have such a clause because they have no way of knowing in advance if you will be qualified. On the other hand, claiming that they will report the vehicle stolen is a scare tactic. The dealer will have the right to repossess the vehicle if the above clause exists. However, that does not make the car stolen. The dealer gave you possession of the car. Thus, it is only a civil matter now.