What would you do if this happened?

[RJP]

Only if you want to pay for the damage.

In California, If the dealership did not include a contract is subject to financing clause, then the dealership would be required to honor the sales contract.

But the buyer would also be required to honor the terms of the contract - which would mean paying for the car.

:shocked2:

 

[H2O 70]

Wow. I had always assumed that when you bought the car, signed the papers, titled and registered the car it was a done deal. One month later seems odd though.

 

[RJP]

Wow. I had always assumed that when you bought the car, signed the papers, titled and registered the car it was a done deal. One month later seems odd though.

Don't forget, by definition, if you're financing the car YOU don't have title to the car.

So I wonder, in the OPs case, who DOES have title to the car at this time?

 

[H2O 70]

Don't forget, by definition, if you're financing the car YOU don't have title to the car.

So I wonder, in the OPs case, who DOES have title to the car at this time?

We'll the bank has the title to the car. The last car we bought. We went in and did the whole sales thing. We filled out a lot of paperwork and put down a deposit on the car. A few days later they called us back and said everything was squared away at the bank. We went and signed the loan paperwork and they had even done the registration with the MVA for us so we didn't even have to go get a license plate.

I always thought this was the norm.

It sounds like speculative lending...hmmm...maybe they were talking notes from Wall Street.

 

[RJP]

We'll the bank has the title to the car. The last car we bought. We went in and did the whole sales thing. We filled out a lot of paperwork and put down a deposit on the car. A few days later they called us back and said everything was squared away at the bank. We went and signed the loan paperwork and they had even done the registration with the MVA for us so we didn't even have to go get a license plate.

I always thought this was the norm.

It sounds like speculative lending...hmmm...maybe they were talking notes from Wall Street.

Not if the bank rejected him for the loan...

 

[Web Monkey]

I went to a Honda Dealership to test drive a car. They said they will give me very competitive financing and a very good APR. After looking at the rates I thought I should buy the car. I signed up on all the paperwork showing APRrates, total interest, price, when the first payment would be due etc.

I have had the car since almost a month now. Yesterday, when I was expecting my first bill for a car payment, what I got instead was a REJECTION LETTER! WE ARE NOT GIVING YOU THAT CAR LOAN SO GO AND GET YOUR OWN FINANCING!!!

I am still shocked! I have been calling the dealership but no one seems to take my call. I have two documents 1) My car loan papers 2) GO GET YOUR LOAN FROM SOMEWHERE ELSE paper.

Has something similar happened to anyone else here? Is this a lawsuit against Honda? Looks like a customer ambush doesnt it?

So you've had a car for a month, made no payments and now they say they won't sell it to you and want it back? I'd be nice about it and say "Thanks!" and bring the car back with a smile in excellent condition, then go somewhere else and buy another car.

You just got to drive a new car for free for a month, and they took a huge hit in depreciation for nothing.

If you're feeling generous, you can offer them the bluebook value for their used car. Otherwise, go buy something else.

Terry

 

[Fatterboy]

The only advice I would be able to offer:

find the best, most tenacious local lawyer you can and ask him what he/she thinks.

 

[StevenN]

I'd take the car back to the dealership and let them sell it as a used vehicle.
With the hit Honda has taken in sales lately I'm surprised one of their dealers would pull something like this.
My Wife bought a car in the '90's and signed a contract for a 60 month payment plan. The dealer called us a week later and said that they would only approve financing for 48 months. After a lot of negotiation where they tried to get us to agree to a different deal we told them we would just bring the car back in and return it to them. We ended up getting the same monthly payment we would have gotten on the 60 month plan for 48 months. I don't remember what the exact amount was but we ended up getting the car for thousands less.
Sounds like the dealer is trying to pull some kind of bait and switch with the financing on you and now the ball is in your court. I'd say play hardball with them and don't back down or be in any rush to bring the car back.
You could either end up with a great deal or a free rental car for a few weeks.
I would definitely NOT do any intentional damage to the car.

 

[SeaHound]

Seems like the issue has been resolved. They asked for some additional documents to go in my file and told me Im all set!

Thanks folks!

 

[D_B]

It's good to hear that SeaHound
.. It's usually best to wait and think before doing anything