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car buying contracts

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O

oldpinkdog

Guest
I bought a new car on a sunday. We put 1500 down and opted for the special financing rate of 4.9% instead of a cash back offer. 2 days later the car dealership called and when I made contact with them I was informed that the financing company would not finance the amount at 4.9% based on the amount financed in relation to the price of the car (we also traded in).
The contract was signed and we left believing that we were approved for the deal and we not informed that it was contingent. Does the dearship have to live up to the contract we signed or do I have to put more money down or live with a higher % rate?
 



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