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Can they take my car back??

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Melisrigs

Junior Member
What is the name of your state?What is the name of your state?What is the name of your state? Florida

We bought a 2003 Navigator on Saturday (8-27). We left in the truck leaving behind our trade-in, a $1500 downpayment and the tax, tag, and title fees. On Saturday we signed:
Retail installment sales contract simple finance charge
Agreement to provide insurance
Bill of sale
along with odometer disclosures for our trade and for the Nav
These are all the same paper we signed last time we bought a car.
Before doing any of this paper work we had to talk to the bank that the car lot uses. We gave them permission to run a credit check and we did the whole debit to income ratio stuff. THE BANK AGREED TO FINANCE US. Now we did owe more on our trade-in than the dealer was willing to give us, but it was about to fall to peices so we decided to roll in the left over to the new loan. All of that was agree to before the dealer ever called his bank so that should have been included in the total the bank was given and as far as we know it was.
After some back-in-forth on the condition of the tires, we got the dealer to agree to give us new tires and made them inclued it on the sale contract since they could not be replaced until tuesday, we signed the "Retail Installment Sales Contract Simple Finance Charge". Then we left in our new car with all our paper work.
We call on tuesday to make an apponitment to have the new tires put on and are told that the bank has changed it's mind and doesn't want to finance us for that much money. Since our credit is dang near perfect (720 beackon) we were stuned and wanted to know why, their response was that the car blue booked under the loan amount. The dealer told us that we needed to come up with another $1500 or bring back the Nav and he would void the deal. We don't think that he can make us do either. Florida law does not allow for a "cooling off period" on used cars and no where on the contract does it say "finance contingent".

So i have two questions:
1. There finance lady tried telling me that finance contingency was "just the law" and didn't have to be written on the contract. This sounds like BS to me. Is it true or is she full of it?
2. Who's problem is this? I think that it is the dealer and banks. We would have no recourse to get out of the contract if we wanted to so how can they? They can't really make us pay more now or take back our truck, can they?
Please help me make sense of this!
Thank you!!
 



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