I'm in Michigan. I recently (two weeks ago) went to a car dealership to purchase a new vehicle which i needed badly. I had a vehicle to trade-in ($1900 still owing) which I'd financed, making on time payments for the past three years. The new vehicle is to be financed for five years.
I provided the dealership with all the documents needed: phone bill, energy bill, MI DL, car insurance information, registration, and two pay stubs. I just began working this March.
My problem is that I provided the dealership with two pay stubs which state all of the correct information such as my employer's name and address, my name, address, acct. info, wage info. etc., BUT my bi-weekly income is fraudulent. The stubs had been altered to make it so I could obtain financing because I feared I would not be able to get a vehicle that I desperately needed.
I can afford the vehicle because I actually have two jobs, but the dealership wanted me to use one (I originally included both employers, but they had me do it over and use one). With only the income from the one employer, I would not qualify for financing I'm sure.
Problem now is it's been almost two weeks and the finance company hasn't even looked at my information because they've been backed up with work (I've called). The dealership will only pay off my trade in and go through with the total sale if financing is a go- if not, they'll probably try other options OR they'll discover this fraud.
This has been bugging me since the day I provided them with these documents. I feel so much guilt and want to confess and pay any fees for driving the vehicle for the past two weeks and I don't even care if I have forfeited my down payment or trade in- I just don't want to be charged for fraud or any other criminal
I want and NEED to confess to them. I guess my question is what can happen at this point? The loan has not gone through- the dealership hasn't been funded.