I bought a vehicle back on October 17, 2019 at Wabash Dealership. We put a down payment down for the vehicle. However about two weeks ago Sensible Auto Lending company called me and stated there is no contract on the car. The contract has been voided since the Dealership didnt follow up. Sensible Auto Lending Company is the finance company Wabash went through for my approval. I called Wabash Dealership to have them explain why the finance company called me and told me there is no contract on the vehicle. He stated it was because of my credit. However, when I called the finance company back, they stated it was not because of my credit, they had another person with the same name as me, registered to a Volkswagen that lived in Maine. So, all I had to do is go to the dealership and I would get re-approved again. So I called Wabash Dealership to have the car returned and for my down payment back. He stated your not getting your down payment back because of the modification you have done to the car. I did nothing to the vehicle. I just want my down payment back. This is not right. Who do I go through for answers?
You are not paying anyone for the use of the car. Sooner or later they will repossess it. Meanwhile, you have a free ride. Make sure you save all the documents of both the dealership and the lending institution.
In Maryland, there when the financing of a car purchase falls through there is a statute controlling what happens. Under the statute, the dealership is supposed to notify you within 4 day of the transaction, that the financing has failed. If no new deal can be made, then the buyer must return the car, and the dealership must return any down payment - unless you have actually damaged or modified the car. Merely driving the car doesn't count as modification.
All that said, dealerships often fail to comply with the statute. You can complain to the MVA: http://www.mva.maryland.gov/businesses/investigations/complaints-and-investigations.htm. You an also hire an attorney to try to get your money back.
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