Quote:
Originally Posted by peachsnow
I haven't given my down payment yet but they said they have already sent my documents to the DMV to be processed. The only papers we signed were the ones agreeing on the interest rate and we are willing to buy the car. We haven't signed the final ok lets seal the deal paper.
|
Been trying to figure out what this is. I've had a number of vehicle purchases over the years, and I have never signed squat prior to the sale.
The Spot Delivery (or Yo-Yo Financing) Scam
Laws vary from state to state, but generally speaking, you either bought the car or you didn't. If you did buy the car -- you have a signed, legally-binding contract and the car is registered and insured in your name -- then the dealer must honor its terms. If you did not buy the car -- a true spot delivery without approved financing or transfer of ownership -- you can return if for a refund of your deposit and a return of your trade-in. It doesn't matter if you've been driving the new car; the dealer essentially loaned it to you, and that's his problem.