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Is contract voidable by dealership

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  • Is contract voidable by dealership

    I recently purchased a car and it is now a week later. I went in to get a ding in the windshield fixed and was stopped by the finance dep. telling me that they couldn't get approval for the loan yet. About a half hour later came back and said they found a new lender but had to take off the service pack that we requested because it wouldnt fit in the loan amount issued. I have already signed all the contract paperwork last week received the title from them and we all signed off on all necessary paperwork including the loan paperwork that was suppose to be through wilde toyotas lender. Can they pull the approval, and do I have to sign new paperwork at this point?

  • #2
    Re: Is contract voidable by dealership

    If it was conditional then they are not bound--ie if it was a promise to try to finance it...otherwise it is binding and/or they have to return every dollar to you and cannot charge you at all--if they want to take the car back.

    Check your documents; you could also report them to your state attorney general's office.

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