Results 1 to 4 of 4
  1. #1
    Join Date
    Feb 2015
    Location
    Anderson, South Carolina, United States
    Posts
    1

    Default What Happens if Your Down Payment Check Bounces but Your Car Loan Comes Through

    My question involves a consumer law issue in the State of: south Carolina I put a down payment on a car but it bounced they received the remainder of the balance of the car which was14,500 and they cashed that check. What I want to know is what can they do to me or what can I do to resolve this issue. The money for the down payment has been exhausted because I had some other issues to take care of. What can I do.

  2. #2
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: Down Deposit

    Where was the car in all of this? If you took possession of the vehicle, they can file CRIMINAL CHARGES on you for passing bad checks.

    If they still have the car, you can negotiate with them for return of the rest of your money less the charges for the damages you caused them by your shenanigans.

  3. #3
    Join Date
    Mar 2013
    Posts
    18,340

    Default Re: Down Deposit

    Quote Quoting Michael Witcher
    View Post
    My question involves a consumer law issue in the State of: south Carolina I put a down payment on a car but it bounced they received the remainder of the balance of the car which was14,500 and they cashed that check. What I want to know is what can they do to me
    Here are some possibilities:
    1 - Repo the car.
    2 - Sell it and sue you for the deficiency balance.
    3 - Trash your credit.
    4 - Report you for possible criminal prosecution.

    Quote Quoting Michael Witcher
    View Post
    what can I do to resolve this issue.
    Find the money and pay it. And do it fast. I'm surprised that they haven't repo'd the car yet.

    By the way, turning in the car is still a repo.

  4. #4

    Default Re: What Happens if Your Down Payment Check Bounces but Your Car Loan Comes Through

    You need to pay the dealer the amount of the bounced check immediately plus any fees due for bouncing the check. You can be charged with bouncing the down payment in SC. If you don't have the money to make good the dealer will contact the lender and reposses the car. The dealer may work with you if you come clean before they have to contact you. They are not required to work with you.

    1. Sponsored Links
       

Similar Threads

  1. Payoff: Do You Still Owe Your Payment if Your Check Bounces After Title is Released
    By txconsumerfs in forum Cars and Dealerships
    Replies: 10
    Last Post: 04-24-2013, 06:49 PM
  2. Closings and Escrow: What's the Status of a Home Sale After the Title Company's Check Bounces
    By LAURA2021 in forum Buying, Selling and Conveying Real Estate
    Replies: 2
    Last Post: 06-30-2012, 02:08 PM
  3. Banking: Stop Payment Check Cashed by Check Cashing Company
    By dms in forum Personal Finance And Investment Law
    Replies: 1
    Last Post: 11-16-2009, 11:36 AM
  4. Repossession: Used Car Salesman Forges Check and Car Downpayment Check Bounces
    By snsimmons in forum Cars and Dealerships
    Replies: 1
    Last Post: 09-30-2008, 08:41 PM
  5. Security Deposits: Renter Bounces Deposit, First, and Last Month Check
    By lindalouwho in forum Landlord-Tenant Law
    Replies: 3
    Last Post: 09-04-2007, 11:28 AM
 
 
Sponsored Links

Legal Help, Information and Resources