3 weeks later been contacted that the finance co did not approve the loan because I am on disability leave. I already took delivery and signed all the papers. The finance manager from the dealership is calling frantic and is reissuing the loan. I am still on disability leave so the outcome will be no different. What are my rights because I signed ALL paperwork contracts as directed by the finance manager. i do have a accident injury lawyer for the car accident as it was not my fault.
Make an appointment and go talk to your attorney. Any good personal injury attorney handling your claim will certainly assist you with issues like this that arise out of the same accident. Assuming you did not lie on your application for a car loan, it does not sound like you did anything wrong. Cooperate with the dealership in their efforts to find new financing, but make sure that the terms of the new loan are the same as what was promised to you by the dealership.
Legal disclaimer: The comments above by Dale Larrimore, Esq. are provided as general information and not as a legal opinion or legal advice, because all facts are not available. The person requesting information and all others reading the answer should retain an attorney in your state who can examine the complete facts and provide a legal opinion on your case. All information provided in the above answer and other information provided by Dale Larrimore, Esq., of Larrimore & Farnish, LLP, does not create an attorney/client relationship within any state or under Federal law.
Besides talking to your lawyer, if you need a consumer attorney go to www.naca.net. Makes sense to unwind the deal--turn the car back in. Mutual mistake--both you and dealer thought it had been approved (most dealers won't let a vehicle go until it 's been approved and loan papers signed).
Is this the car that was in the accident? If so that would complicate things.
This is a "yo-yo" sale problem. The dealer is obligated to honor the terms of the deal it made but may try to require a larger downpayment so that a different finance company will accept assignment of your loan. That would be illegal.
The information contained in this posting is for general information purposes only and does not constitute legal advice. The furnishing of this information does not create an attorney client relationship. An attorney client relationship requires the furnishing, review, and signing of a retainer agreement.
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