Dealership want a downpayment after signed contract

i just purchased a car on saturday (PT Cruiser 2002) with my contract in place which states how much i purchased it for what my interest rate is and what my trade in amount was.

Well i just recieved a call from the dealership today 5/23/02 stating that i have to go into their office so i can give them a down payment.

When i was there on Saturday they asked me if i had a downpayment, i told them no, and even in my sales contract it states $0 for down payment and it's a signed contract. Can they request a downpayment after the sale is completed and signed for?

Diana J Ocampo
In San Diego

My only question is were you accepted by a loan company with no money down? If you have a loan contract in hand with no money down, dont worry about it. You have a legally binding contract for the car. It states no down payment was to be made. Have car? Have contract? Dont worry.

Originally posted by DobermanLady
My only question is were you accepted by a loan company with no money down? If you have a loan contract in hand with no money down, dont worry about it. You have a legally binding contract for the car. It states no down payment was to be made. Have car? Have contract? Dont worry.

Thanks for the input

Diana

[HomeGuru]

Originally posted by DobermanLady
My only question is were you accepted by a loan company with no money down? **A: it is quite obvious that the writer was not accepted by the loan company for a no money down deal. That is why the dealer asked for a downpayment.
********



If you have a loan contract in hand with no money down, dont worry about it. You have a legally binding contract for the car. It states no down payment was to be made. Have car? Have contract? Dont worry.

**A: DobermanLady, you are giving advice without knowledge of all the facts.
Every contract for the purchase and sale of a vehicle and auto loan contains a clause something to the effect of "subject to lender's approval"
Even if the buyer had signed a contract and loan papers for no money down, the dealer has every right to change the deal because of the lender's requirements.
It appears in this case, the lender wanted a downpayment.
You are correct in one sense, in that the signed contract is legally binding. But you should have clarifed that the subject to lender's approval contingency was also part of the binding condition in the contract. You have provided information in your post that would give the writer a false sense of security.
It is not simply a case of have car, have contract, don't worry. In fact, if the lender required a down payment and the writer has none, the writer would need to return the vehicle back to the dealer.

[I AM ALWAYS LIABLE]

Originally posted by HomeGuru


**A:

My response:

Hey Homie !

Where's your "answer" ?

I'm telling Mary to subtract the above from your overall response totals. This is not fair !

Good to see you, me amigo.

IAAL

[HomeGuru]

Originally posted by I AM ALWAYS LIABLE



My response:

Hey Homie !

Where's your "answer" ?

I'm telling Mary to subtract the above from your overall response totals. This is not fair !

Good to see you, me amigo.

IAAL

**A: Hahaha, I was writing the response at the same time you were checking out this thread. I must have hit the return button by mistake. The first mistake I made all year.

Originally posted by HomeGuru


**A: Hahaha, I was writing the response at the same time you were checking out this thread. I must have hit the return button by mistake. The first mistake I made all year.

Made a mistake??? hummmm.....

Reread my first comment: were you ACCEPTED by a loan company with no money down.