I purchased a car 2 wks ago for the price of 16000 dollars @ a 20% APR but with a 2000 dollar down. However, I recently received a call saying that my cosigner wasn't approved and that the bank had only approved a loan of 10k for me ONLY and that I could only keep my car if I brought in another 3000 dollars or I could get a cheaper car @ 10,000 dollars. I decided to go to the dealers website and found MY CAR, listed for sale @ 11,888. The dealer says that the car was16K because of "dealer fees" but I did the calculations for the internet listed price and it came out to about 11K, considering my down payment. If the bank approved me for 10k why does the dealer insist on only letting me keep the car for the 16k? I want to know if this is fraud since I am returning the car and expect my down.
