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Purchased car over 30 days ago and dealer wants me to use new lender. Title has been received. Is this legal?

Ofallon, MO |

I purchased a vehicle in Missouri on 8/29/13. Today is 10/07/13. I received title last week. They are now saying that the lender refuses to fund the loan and that I need to go with a new lender at a higher interest rate. I received the title 2 weeks ago and have already paid sales tax and transferred title to my name. Nowhere in my contract does it state that it is "Subject to Approval" Can they legally do this since they already signed the title over to me?

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Attorney answers 2


You can not quote your interpretation of the contract to an attorney and expect legal advice. Please have an attorney review the sales contract and financing contract.

This comment does not create an attorney-client relationship. The law and its application by the courts is constantly evolving and changing. This discussion is not to be taken as a definitive guide, and should not be relied upon to determine all fact situations. Each set of facts must be examined separately with the current case and statutory law analyzed and applied accordingly.


To answer the question fully, I would review your documents. I encourage you to take all your paperwork to a local attorney for a free consultation. If one is not available, drive over and I'll take a look at it. I suspect the title indicates a lienholder unless you paid the purchase price in cash so you'll likely be caused to work something out or be unable to obtain free and marketable title going forward.

NOTE: The use of the Internet for communications with the firm or this attorney will not establish an attorney-client relationship and messages containing confidential or time-sensitive information should not be sent.

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