Modern Tools

What happens if you leave a car dealership without a car loan check?

What happens if you leave a car dealership without a car loan check?

A car buyer and user of emailed us to say they went to a car dealer 100 miles away with a pre-approved new car finance loan check from a lender with 14% APR. Our client told us that they agreed on a deal for a new car purchase but the total out the door price was more than their pre-approval car loan check limit.

Can you walk out of a car dealership with no paperwork?

Any time a car dealer tries this trick on you, with this scam, or tries to send you off with your new car and no paperwork, just say no and walk out. Tell them to call you when the paperwork is 100% ready for you to sign, and that includes all the finance and Truth in Lending required paperwork.

Can a non-citizen buy a car from a dealership?

Many banks will not finance a vehicle to a non-citizen for longer than the remaining time on the current Visa. This is a lender requirement, not a dealership requirement. If you are paying cash, it does not matter, though in some states you may have difficulty getting a permanent license plate for the car.

Can a car dealership refuse to sell you a car?

If you do have a valid license and insurance, do not want to finance, have ascertained that you satisfy all of the DMV requirements, and the dealer will not sell to you, it might be reasonable to suspect that they are refusing service based on what might be discriminatory practices.

What happens when you leave a car dealership with no paperwork?

The lie-nance manager said they made the call to the lender and everything was fine, they falsely claimed the lender agreed to bump up the amount financed to match the higher selling price of the car. He told our client they just had to do the paperwork, so the buyer went home with their new car and no paperwork at all.

What happens if you don’t comply with dealer regulations?

However, failing to comply with vital car dealer laws and regulations can be a costly mistake. Here at Total Dealer Compliance, we specialize in helping auto dealerships enact compliance procedures and protect their dealerships from hefty fines and potentially even criminal penalties.

Do you have to take your car in for service at the dealer?

If you’ve ever felt you got a raw deal taking your car in for service at the dealer, our anonymous service manager says that may well be true. But he also cites a number of reasons to take your car to the dealer for work anyway—and tells how not to get the short end of the stick when you do.

Can you walk out of a car dealership without a receipt?

You never walk away from the electronics store without a receipt for a new TV, so why on earth would you walk out of a car dealership with a $30,000 car and no receipt? You owe it to yourself to be more thorough and demanding. Car dealers would never have a leg to stand on with this scam without uninformed car shoppers enabling them.