Thursday, August 6, 2009

Can I cancel a auto loan and get a refund on what I have paid?

I am a victim of fraud since I got my truck I have paid more than $3,500.00 in auto repair. I called the finance company to get some advice on my situation they tell me that they do not know where the car dealer moved to cause they got caught doing fraud activities!!! I live in Los Angeles please anyone some advice what I can do!!!!!



Can I cancel a auto loan and get a refund on what I have paid?

Auto finance is what I do for a living and once the dealer is paid by the lender the dealer is out of the equation.



Any deal you make must be direct with your lender. Since the dealer has been caught committing fraud the lender may be willing to make some kind of a deal with you.



Good luck.



Can I cancel a auto loan and get a refund on what I have paid?

With autos it is always buyer beware. Look on the purchase contract and you will see that you bought the car AS IS! The finance company is not to blame. Even if you could find the dealer I bet you couldn't collect a dime. I wish there was a solution to your problem.



Can I cancel a auto loan and get a refund on what I have paid?

sorry. u need to get 2 more jobs so u can repair the truck , save enough money to buy a good used one and sell the other.



as for legal options , u have none that will help u now or in next few yrs with out lots of cash invested.



Can I cancel a auto loan and get a refund on what I have paid?

You need an attorney. See the websites below.



Can I cancel a auto loan and get a refund on what I have paid?

No, you can't cancel it. The lender is not to blame, the dealer is.



Can I cancel a auto loan and get a refund on what I have paid?

Unless the dealer was convicted of fraud in YOUR case, you're out of luck.



Your only hope is to appeal to the sympathy of the finance company, but it's not their fault, so I doubt they can help, they have to look out for their shareholders, and why should they take the loss instead of you?



Good luck, but I don't have much hope.

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