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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 118654
Experience:  Attorney experienced in commercial litigation.
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My wife bought a new car all the paperwork was done the

Customer Question

my wife bought a new car all the paperwork was done the dealer said good to go but now the lender has sent us reject letters and the dealer is trying to get us to redo the paperwork and they have already taken the down payment out of our back.what can or should we do
Submitted: 2 years ago.
Category: Consumer Protection Law
Expert:  Law Educator, Esq. replied 2 years ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
If the lender rejected the loan, you have to return the car and you are entitled to a refund of the deposit or the dealer has to refinance you through another lender. If they cannot refinance you or the rate is higher, you have the right to return the car and they much give your deposit back to you. If they can refinance at or near the same rate as the other loan that was rejected, then you must cooperate with them to do so.