Bank denied car loan after I drove off lot?


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I'm in Wichita Ks. I wanted to look at cars on a Sun but wait till I was off the following Sat to buy one. Long story short I was in a hurry and when I was driving off a man chased me down saying he could approve the deal I wanted on a 2015 Chrysler. 20 min later I was driving away in a new car. And had to pay...


Banks in Wichita, KS



Answer (7):

 
Bill S

Take the car back. Tell them no one will cosign with you. They will try to get you a loan with a less reputable company who will charge a high interest rate. They will want money for the mileage you put on it. If the license was processed and now the title to it is in your name, it is a used car so they will want the difference which could be thousands plus the title and registration fee. This is likely going on your credit record and lowering your score. I hope you learned a lesson that you can't let salesmen rush you.

 
ElGrande

The dealer rolled the dice and performed what is called a "spot delivery".

You DO NOT have to agree to new terms. The only way they would have anything on you (legally) is if they found a lender willing to approve the deal as it was written. Take the car back and hand them the keys. Since it was never titled, they can still sell it as new.

As for the $500, you are entitled to it, but don't be surprised if the dealer does indeed ask for some of it to make up for the miles.

 
Scott H

Give car back or finĸ another way to pay for it. You have no deal.

 
J.E.S.

They will threaten a lot of cr@p, but they forced the deal, and lowered your credit score. If they want to do something, make them push it. They will try to make you cave in.

 
bonehead

cool. You got the car. Too bad for mr banker

 
Joel Gardberg

You just drop the car off and owe nothing.

 
Bill

They will keep your $500 down payment.