Auto dealer sold me a car and now want it back and keep my downpayment

[aacevedo19]

Jurisdiction

Texas

I recently purchased a new SUV and put 12K+ in down payment. I supplied prof of income before we close the deal and I got to drive home my car. I received letter from the dealer ship taking me for my purchase and all was good. Then, three weeks later the dealer communicates to me that the bank change their mind and they had to go with other lender. They requested from me more income supporting documentation and the bank turned me down. They so far have asked for other 8K to make 20K total down payment to be approved or return the car and lose my down payment. Can I sue the dealer ship for this so I can get my down payment back at least?

 

[army judge]

I recently purchased a new SUV and put 12K+ in down payment. I supplied prof of income before we close the deal and I got to drive home my car. I received letter from the dealer ship taking me for my purchase and all was good. Then, three weeks later the dealer communicates to me that the bank change their mind and they had to go with other lender. They requested from me more income supporting documentation and the bank turned me down. They so far have asked for other 8K to make 20K total down payment to be approved or return the car and lose my down payment. Can I sue the dealer ship for this so I can get my down payment back at least?

I don't see why you won't be able to receive SOME of your down payment back.
Why not all of the down payment?
Because, if you aren't able to be financed, somewhere among the many words in those documents you AGREED to pay for the use of the car if your financing can't be arranged.

That said, you can pay off the amount you wanted to get financed, keep the car, and not lose a dime of your down payment.

Or, you can obtain your own financing and achieve the same result as revealed in the sentence above this sentence.

 

[mightymoose]

Yup. Your contract covers this scenario.
Keep in mind it is still their car. You don't own it until it is paid for.

 

[txls]

They cannot just keep your down payment. You should get most of it back and they should itemize to you any part of it that they keep, and it should be spelled out in your paperwork.