I took out a loan on a car on July 26th. About 3 days ago I received a registered letter from the dealer telling me that no company would finance my loan. I called the finance manager at the dealership. He said they didn't necessarily want the car back, but that I needed to speak to the salesman who sold me the car.
I spoke the the salesman and He told me the company that originally approved my loan was claiming that I have a previous repo with them. I don't have a repo with them or anyone else.
The sales person told me to give him a few days and he would work it out. That was 2 days ago and Today he sounds less optimistic. What should I do? Legally do I have to take the car back? If I do take it back, will they have to give me back my down payment, which was $2500..