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  1. #1
    Join Date
    Aug 2007
    Posts
    1

    Angry Finance Company: "Your File Was Sent Back to Dealership"

    My husband and I purchased a used car on 8/16.07. After not receiving a statement in the mail, I called the finance company. They could not find my husband or I in the computer, so they transferred me to underwriting.

    After being on hold for half an hour, the (very rude) underwriting department told me that "my file was sent back to the dealership." They told me that I would need to contact the dealership. I was shocked because I hadn't heard anything from the finance company or the car dealership.

    I called the car dealership and spoke to the finance manager. He said that my file WAS returned. Apparently, the processor at the finance company was approving everyone that day without talking to anyone first. He said he was talking to upper management at the finance company and trying to get it taken care of. He said that they (finance company) were upset because I am self-employed. I told the dealership from the beginning that I was self-employed 1099, and provided 3 months of bank statements showing my direct deposits from being an independent contractor with a company.

    The finance manager told me to fax a copy of a paycheck. I told him I don't have one, that I had already provided proof of income. He told me he'd be in touch. This was about a week and a half ago.

    I still have not heard back from the car dealership despite several attempts to contact them. I also haven't received a statement from the finance company. After all of this hassle, I really just want to take the car back & get my $1000 down payment.

    Edit: I received my registration info & the mail, and I have already purchased my license plate.

    Edit: I looked over my contract, and I found this paragraph: "If purchaser, or dealer on purchaser's behalf, does not obtain financing within 3 business days, then this contract is terminated and rescinded in all aspects by the dealer, unless dealer exercises option to extend contract time."

    Since my payment is now technically a few days late, I'm really worried they are going to try to repo it stating that I haven't made any payments.

    My question is: can I legally take the car back since I don't really have a loan? Or am I stuck with the car until they "figure something out"? I am in Georgia, if that helps.

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