Home » FAQs » I purchased a new vehicle. I signed the contract and now the dealership claims they can't get financing for me. They want the car back or a higher interest rate. Is this legal? What do I do?
Frequently Asked Questions
I purchased a new vehicle. I signed the contract and now the dealership claims they can't get financing for me. They want the car back or a higher interest rate. Is this legal? What do I do?
We are not attorneys and cannot offer legal advice. However it is our understanding from attorneys that the contract is legal and binding if both parties signed -- the dealership would expect you to honor your agreement if the tables were turned. You should nonetheless consult with an attorney who specializes in automotive law just to make sure your situation is binding and to tell you how to handle calls from the dealership.
Also look at the FAQ for "The dealer is reneging on the interest rate after selling me a car. They are refusing to refund my deposit and return my trade in. What do I do?"
