Auto >> AutoSPT >  >> Car Care

Can a car dealership call you 2 weeks after purchased and signed all papers on vehicle say the bank financing go through need to return vehicle?

Generally, once a car purchase is complete, the buyer's ownership rights are established, and the dealership cannot simply ask for the vehicle back unless there are specific contractual terms or legal issues involved. Let's explore the situation:

1. Purchase Agreement: The purchase agreement you signed with the dealership should clearly outline the terms of the sale, including the vehicle price, financing details, and any contingencies related to financing approval. Carefully review this document to understand your rights and obligations.

2. Financing Approval: If the purchase was subject to financing approval from a bank or lender, there might be a clause in the agreement stating that the sale is contingent upon the financing being finalized. In such cases, if financing falls through, the dealership may be within their rights to request the return of the vehicle.

3. Cooling-Off Period: Some jurisdictions have laws that provide a cooling-off period after purchasing a vehicle, during which buyers may have the option to cancel the purchase and return the car. Check the regulations in your area to determine if this applies.

4. Misrepresentation: If there was any misrepresentation or fraud involved during the sale, such as inaccurate information about the vehicle's condition or the financing terms, you might have legal grounds to challenge the dealership's request to return the vehicle.

5. Revocation of Financing: In rare cases, the bank or lender may revoke financing after initially approving it. If this happens, the dealership may have to cancel the sale and request the return of the vehicle.

6. Contact a Consumer Protection Agency: If the dealership insists on you returning the vehicle without valid reasons, consider contacting your local consumer protection agency or seeking advice from a legal professional.

7. Review Documents: Thoroughly review all documents you signed during the purchase, especially the fine print. There might be specific clauses related to financing contingencies or any potential consequences if financing is not finalized.

To protect yourself, carefully read and understand all documents before signing, and keep copies for future reference. If you are unsure about anything or have concerns about the situation, it's advisable to consult with a lawyer or seek legal advice.