Dealer wants car back????????

[MaddawgXXXL]

Ok quick history... we put the Camaro in the gf's name to build her credit. Interest is a little high, but after a year we will refi. Dealer runs her credit (after punching in #'s wrong 2x) finally says they got her approved with Capital One. We wait another week+ for the car to arrive and then we go to sign the papers... before we got there dealer said the deal was contingent on our down payment, 5 references and paystubs. We bring all, sign papers, weekend goes by and we finally get the car. 3 weeks later and I get a call from the finance manager that apparently someone at her job said she was a 1099 employee when she is clearly a w2 employee (hence the paystubs). He starts getting nervous and says we have to fix this or we have to bring the car back. Capital One calls the owner of the company, who clears everything up and verifies the info.

Now today I get a call (another week later) that Capital One may be calling to have the gf sign an IRS release of info because of the mixup.

There is no way she is signing that Doc... even our lawyer said that's ridiculous. They have $8k on the car and financed $22k. I never signed this doc even to purchase my house and don't feel its nec. It isn't in writing and wasn't part of the deal. She does not feel comfortable releasing her tax returns to Capital One and neither would I.

So now what???? Will they accept the loan or was the dealer serious about bringing the car back???? With almost 1000 miles on it wouldn't there be a major loss for them?

I read online that in some states they have 10 days to cancel and/or it has to be in writing. Its past 10 days and there is nothing anywhere on the contract. Isn't it up to them now to get financing????

Sorry for the long post but I'm shocked... I've purchased dozens of new cars and never heard of anything like this before!!

Any info would be great!

[Shuffler]

Ask your lawyer.

Sounds like several inept folks at the dealer and the bank.

[motorhead]

Who has the encumberance on the title? That's who owns the car until you pay for it.

[Bond]

So the registration is currently in your lady's name?
F*** Capital One.. and F*** your dealership.

They released the car, it's in y'er name, neither of you did anything fraudulent, the only one on the hook here is the dealership.
It has nothing to do with you, so tell 'em to go F*** themselves!

Once you get that in place, I'm sure they will come up ith a plan "B".
Hang in there!

[Patriot]

I don't what the problem is. Drive the piss out of it, then give it back. As long as get all your money back, go down the street to a competent dealership and get another car. You'll be the first person in history to get a free sports car for a week or two.

In actuality, Capital One ownes the car but entered into an agreement with you. As long as you didn't lie about anything, they can't take the car unless you miss a payment.

[Ronn]

Definetely ask your lawyer. You guys have a written signed contract for the car. Doesn't make sense that they can just "add" on things later. Too bad for them.

[armysig]

You could always try and contact a local Credit Union if you're a member of one. Explain the details, they might help you out by taking over the loan, and push the other lender out of the picture.

[MarylandSpeed]

There are one of two things going on here-

1. The dealer is jacking you around, and had you sign a spot contract with terms that they knew the bank would not approve to get you in the car. Then they come back with a contract that has the worse actual terms and will ask you sign it, or give the car back. This is quite common.

http://www.carbuyingtips.com/scams.htm#Scam1

2. You or your GF has bad credit, and the dealer tried to make it work, but messed up somewhere. I mean with even average credit, and reasonable debt, if your putting $8K down on a $30K car, it should be very easy to get a normal loan.

[GreyGhost]

Weeks later? I doubt there is anything the dealer can make you do, as long as you make payments. They may have goofed, but if all of your info is accurate, it seems like you should be fine. Definitely check with a lawyer if you can.

My bro-in-law got in on the Cas for Clunkers program. The dealer approved him at a pretty high rate (first time borrower), and Capital One took the loan. The dealer called him a few days later. Cap One has a minimum loan amount and his came to a few hundred less than that. So the dealer literally handed him a check to justify the loan amount being a few hundred dollars more.

Wasn't his fault, so the dealer had to hand him some cash to make it all work out. Seems like your situation is one where the dealer and Capital One have to work things out, but the solution does NOT involve you returning the car.

[MaddawgXXXL]

So the registration is currently in your lady's name?

Well we haven't gotten the tags yet, but did sign all the paperwork for them (and paid) but the temp is in her name. I don't know if the dealer has them and hasn't called us or if they are holding back. If I had the tags on the car I wouldn't even be answering the phone anymore.

There won't be any repossession because they would have to break in my locked auto gate that surrounds the house... then meet the very large bully pit who roams the yard and then meet me... I make the guy in my avatar look tiny

So, we'll see how this plays out... Will keep you updated!!

I'll definitely keep you posted!

[MaddawgXXXL]

You or your GF has bad credit, and the dealer tried to make it work, but messed up somewhere.

She has minimal credit but was approved with everything. But the owners dad answered the first time they called and gave inaccurate info. When they called back and spoke with the owner we thought it was all cleared (even though this was all 2 weeks later too).

The question is can they demand she signs the irs release for copies of tax returns... cause she wont!

[Unique Auto Depot]

give it back go to another dealer get a new one with 0 miles LOL its the dealers loss if he wants the car back with 1000 miles I would say

[MaddawgXXXL]

Just found this... http://www.lemonlaw.com/spotdelivery.html

[spoone123]

Originally Posted by MaddawgXXXL

Just found this... http://www.lemonlaw.com/spotdelivery.html

That sound like what he's doing it to you. low credit score = easy scam.