| reply to frustrated27
Re: Dealer backed out - i have bill of sale - legal? 9 days is excessive.
I have obtained loans with Capital One Auto Finance - twice - and I received checks payable to a [any] dealer via FedEx overnight... |
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| reply to frustrated27
said by frustrated27 :Update - My apologies if i left out any details. As far as financing. I did go into the dealership with what I thought was a "pre-approved" loan. I am an assistant manager at a bank and am pretty knowledgeable about financing and what not.
wait a minute...if you are truly an asst bank manager, this should be a cake walk for you...
did the bank you work for provide you with that "pre-approved loan"? |
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 IowaCowboyWant to go back to IowaPremium
join:2010-10-16
Springfield, MA
 ·Comcast
 ·Verizon Broadban..
| reply to frustrated27
Learn from my fail, financing aside; Get the vehicle checked by a third party mechanic YOU trust.
Even though the vehicle drives good on the test drive and the dealer may have a good reputation from the locals, you could be making a very costly mistake that will have you trading the car for a bus pass. I bought a 2001 Dodge stratus from a dealer in Maine (and the dealer has a good reputation from the locals), I am now taking the bus because it now needs major repairs to pass inspection.
I am surprised that banks don't require mechanical inspections before financing used cars like they require appraisals on home loans. A used car is more likely to result in a loan default if the car turns out to be a lemon. And the bank won't get much selling it at auction if it don't run.
In my case, we paid cash for the stratus. I am thinking of trading it but I need to come up with cash to buy something else. I may also consider fixing it. |
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 digitalfuturSees More Than ShownPremium
join:2000-07-15
BurlingtonON
kudos:2 | reply to frustrated27
Every car I've bought had to have the paperwork approved the the Sales Manager...the Sales Representative is only the 1st step.
This means that only the Sales Manager is the "authorized representative". Without his or her signature, the sales contract is not legally binding. If that's the case in your jurisdiction, your are SOL and can only get your deposit back.
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Logic requires one to deal with decisions that one's ego will not permit.
All that is necessary for the triumph of evil is that good men do nothing - Edmund Burke. |
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 Anonymous_AnonymousPremium
join:2004-06-21
127.0.0.1
kudos:2
·RoadRunner Cable
| reply to frustrated27
said by frustrated27 :Here's the situation. I went to a small dealership and made a deal with the rep there. I gave him 2K down and gave him the info for my financing. He faxed out the purchase agreement. He doesn't have his own financing available. Its taking my lender a little bit longer than expected (its been 9 calender days since we made a deal). He just sold the car today to another buyer for more than we had agreed upon. I do have a bill of sale and receipt of payment, but can he do that? Is it even legal to not remove the listing add after we had made a deal? I live in WA state. Just a heads up, on the bill of sale it does say the following: "....This order shall not become binding until accepted by the DEALER or his authorized representative..." We both signed the bottom. Thank you in advance for the help.
Bill of sale is a legal sale document. |
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