Have a car loan and no car.

[NOMOREBADCREDIT]

Dealer got financing on a car that i return month ago to the dealer because they could not get me approved. i get a letter in the mail stating that my first payment is due.08/xx/08. i have loan on a car that the dealer has. i got a cheap car now . what can i do about this. here's the story.

http://www.bkforum.com/showthread.php?t=25913

[HopeFaith]

That is just NUTS!!! Call the bank and explain the situation, I am sure they just sent the statement automatically and didn't stop it in time. The dealership probably sent the generic signed Promissory Note and the financing just didn't come through within the 30-day requirement (so they asked for the car back). So, the bank might be thinking you do have the car. They can confirm with the dealership that you didn't take ownership, and most likely cancel before any new loan hits your credit.

What and with who did you get approved after all... might I ask?

[NOMOREBADCREDIT]

That is just NUTS!!! Call the bank and explain the situation, I am sure they just sent the statement automatically and didn't stop it in time. The dealership probably sent the generic signed Promissory Note and the financing just didn't come through within the 30-day requirement (so they asked for the car back). So, the bank might be thinking you do have the car. They can confirm with the dealership that you didn't take ownership, and most likely cancel before any new loan hits your credit.

What and with who did you get approved after all... might I ask?

i called the bank they that they need to speak with someone dealership. they will get back in contact with me. HYUNDAI

[NOMOREBADCREDIT]

update iam not getting any help from the dealer about. i dont even have the car. sould i write a letter to the bank?

[NOMOREBADCREDIT]

update iam not getting any help from the dealer about. i dont even have the car. sould i write a letter to the bank?

BUMP

[HopeFaith]

Ask to speak to Manager of the dealership... you definitely want to get this resolved before it reports to your credit. You can look online at your state's corporation commission website and get the name and address of the dealership owner - I would tell the dealership that you know who the owner is and you are willing to contact them personally this weekend if it doesn't get resolved.

[NOMOREBADCREDIT]

Ask to speak to Manager of the dealership... you definitely want to get this resolved before it reports to your credit. You can look online at your state's corporation commission website and get the name and address of the dealership owner - I would tell the dealership that you know who the owner is and you are willing to contact them personally this weekend if it doesn't get resolved.

the manager of this dealership is a jerk . i could not get in contact with the owner. I could not find anything at state's corporation commission .

[jason0618]

If you're getting a payment stub from the bank, it would appear that the dealer was able to get the funding you originally said they couldn't get... If it's the same terms that you originally agreed to, I'm thinking you're stuck... Good luck.

[NOMOREBADCREDIT]

If you're getting a payment stub from the bank, it would appear that the dealer was able to get the funding you originally said they couldn't get... If it's the same terms that you originally agreed to, I'm thinking you're stuck... Good luck.

yes iam stuck with a car don't need. Does anybody know if I could trade the car in for somthing cheaper.

[NOMOREBADCREDIT]

yes iam stuck with a car don't need. Does anybody know if I could trade the car in for somthing cheaper.

bump