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by stubborn9 on September 28th, 2006

stubborn9

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When a person go's to purchase a new vehicle from a dealer and put down 10 thousand down on a 20 thousand $ car.If a person can't get financed in 30 day's and the dealer want's the car back,do the buyers get there 10 grand down payment

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Answers. 3 helpful answers below.

  • by tjatherton on September 28th, 2006

    tjatherton

    Everything is exchanged, money, trade-in, anything that took place is reversed, as if you had never been there at that dealership.
    Make sure that all paperwork that the dealer has is given back to you... anything you signed must be returned, but sometimes they forget, so you make sure you get it all back.

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  • by Anonymous on January 10th, 2007

    Anonymous

    Only answer i can give is for you to read the contract you signed. if there is a clause covering your down paymnet and not being financed for the balance, the dealer just may keep your money. sounds impossible? happens all the time when new cars are sold, pending financial approval. some dealers keep the trade-in auto, if the customer cannot be financed.

    Read the contract and read the small print. if you signed it, its legal.

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  • by mikantcol on December 25th, 2006

    mikantcol

    I once had the same problem, No penalties! Although, they tried to charge me some sort of rate, I fought it and I got ALL of my down-payment back. Hope I've help

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