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Straw Loan

Discussion in 'Consumer Fraud & Scams' started by Wheely52, Jul 13, 2019.

  1. Wheely52

    Wheely52 Law Topic Starter New Member

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    Jurisdiction:
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    My husband and son purchased a vehicle from a dealership. The dealership was aware that the primary driver of the vehicle would be my son that is still in college. My husband is the borrower/purchaser, his name is the only name on the loan. My son made a payment and received a confirmation number but the payment has never been deducted from his account. The dealership now advises the loan has been cancelled and to return the vehicle and loose our 3,000 dollar down payment. Please advise me of my options.
     
  2. Zigner

    Zigner Well-Known Member

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    Get other financing and pay the vehicle off in full.
     
  3. adjusterjack

    adjusterjack Super Moderator

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    What the dealer "was aware" of is irrelevant and meaningless. It's what's on the paper that counts.

    Then your husband should have been the one making the payments.

    For non-payment, I'm guessing.

    Yeah, that.
     
  4. army judge

    army judge Super Moderator

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    I never buy straw on credit.

    Straw is much cheaper when you pay in cash.

    I never buy straw on credit.

    Straw is much cheaper when you pay in cash.

    I never buy straw on credit.

    Straw is much cheaper when you pay in cash.
     
  5. mightymoose

    mightymoose Moderator

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    It should not matter where the payment came from, only that it was paid on time.
    Was it on time? You only said there was a confirmation number.

    How long since the vehicle was purchased? Was this the very first payment?
     

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