I thought i recently purchased a car. however, i found out that after the dealership let me leave with the car and i’ve had it for almost a month now, that the finance company declined my loan. Does the dealership have the right repossess the car even though they let me have the car without fully securing the financing for it?
I bought the car on a weeknight and they’ve sent me all of the other normal things you would expect when purchasing a car, except for the payment book. i just got the letter today from the finance company saying i was declined and my first payment was scheduled for the first week in march.the dealership wrote up the contract like i had financing but told me they hadn’t quite gotten a yes yet but not to worry about it because their finance mgr would take care of it. i even asked what would happen if they gave me the car and the financing didn’t go through and they said not to worry about it that wouldn’t happen. they gave me permanent tags and a registration card that night.i’ve even been back to the dealership to drop of the title for my trade and they haven’t said anything to me about the financing. i don’t want to “steal” the car i’m willing to pay for it but at the same time, i don’t want to rock the boat if they’re gonna let me get away with it for free!