Car Dealer/ Personal opinion: input.

[Zarken]

Just looking for people's opinions or professional input.

last Friday, went to dealer to buy a car. They wrote it up, I did a trade in that was upside down. Payment was good, I signed the papers, and I get a call today and they say financing didn't go through. Said my payment will increase 100 per month and now they need $1500 down.

main reason I went this route was the payment was a hefty reduction and zero down. I wouldn't have taken the deal initially if it went this way.

now tomorrow when I go in, am I obligated to take this deal? Or can I just get my trade in back and give them their car back and call it a day? I mean with the increased payment plus down payment, I am back where I was with my old car. At least with the old car I only had 16 payments left versus 72.

your thoughts on the info above? Am I obligated for anything?

as a side question. I can get my trade in back right? If they already sold it, how does that work with it being upside down? Are they on the hook for that? I am pretty sure they haven't sold it though. Just want to cover my bases.

[Zarken]

Btw I have been driving the car since last Friday. About 380 miles so far.

[YLWFVR]

How did it take a week for them to figure out financing didn't go through? Usually that stuff is handled while you sign papers.

[Stroked]

They probably want to get you in asap to sign something. I'd read over the fine print and see if you are legally entitled to forcing them to hold their contract

[Swifster]

Walk away. It's a bait and switch. They are also going to try to get you to pay for the mileage on the 'new' car.

[DeFormula]

I would get in touch with either Matt Stanford at Varsity Ford or Francis J at Golling CJDRF. That sounds very shady to me. As some one else pointed out all of that should have been figured out before you left with a car.

[Beigg]

I would get in touch with either Matt Stanford at Varsity Ford or Francis J at Golling CJDRF. That sounds very shady to me. As some one else pointed out all of that should have been figured out before you left with a car.

x2

Bait and switched.

[Siegel1719]

x349588596886968849

Bait and switch all they way. Its their problem that they let you take the vehicle before financing. Legally you are not obligated to any changes in the contract after you sign it.

[sofa king]

I think pretty much anyone would want/need to know their payment even before you sign, not when you sign...
Maybe you were approved with the initial deal, but not when it was changed, or maybe just don't agree with the changes.
Regardless of that...How did you even get to leave with the new car before you were approved for the financing?

[mustangjoe87]

First can we assume this is a used car? This practice is pretty common in the shady dealers, bait and switch like the others said.