What happens if auto loan financing falls through?

We traded in our 2004 Aveo on 1/25 for a 2004 Dodge Caravan. The dealer arranged financing for us, and paid off the loan on our Aveo. We signed all paperwork and drove the Caravan home. Now, 16 days later the dealer calls, says the bank needs more info, names of 3 references. Does this mean the financing has not gone through yet?? Dealer says this is the last info they need. Is there any chance the deal can fall through? We have received our new registration on the caravan, and the dealer already sold our trade in.

What happens if auto loan financing falls through?

They legally have 10 days from the date that you signed the papers..They have 10 days to gather more info or whatever..If it has been 16 days,just tell them to not bother you about it any longer..

Bill, you might want to get an update on your laws..They have 10 days to gather info.,if not funded in 10 days the dealer must ask for the car back...That is in NC,,,may be different elsewhere,but most states are usually the same on this,mainly because I think this falls under federal laws..If this was not the case,they could just keep calling the customer anytime...I dont think so! I dont know everything and im not trying to impress..You certainly are not impressive!

What happens if auto loan financing falls through?

Your trade is gone, the financing is going to be done one way or another. Even if the dealer has to sign recourse on the loan or carry the loan on their own, your financing is done.

Your registration should say on it who the lein holder is at the bottom. Don't worry, it's a done deal.

Enjoy your new car.

What happens if auto loan financing falls through?

I worked as a sales guy at a dealership, I didn't do the financing but I know that when people drove off the lot in a new car that wasn't always the end and sometimes they would have to bring it back.

I don't work at a dealership anymore but I always finance any kind of car or motorcycle through my own bank where i sit down with a loan officer and they cut me a cashiers check for the car. If you finance it through your own bank it's final and you get better rates through the bank you have a savings or checking account in.

What happens if auto loan financing falls through?

You obviously had credit issues if all he needs are the three references the deal is done. You are not going to give the car back and he is not going to take it back. Good luck with your caravan and many happy miles.

Harley H i was at first impressed because you were giving good information. I am however not impressed. Until the deal is funded they can contact the customer for additional information. Also I don't know where you are selling cars but there is no ten day rule period end of story.

By the way 30 years in the business

What happens if auto loan financing falls through?

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