Rescinded auto loan

[BSams1991]

What is the name of your state? Georgia
My husband purchased a car for me about 2 weeks ago from the same car dealership where he works. His name is the only one on the auto loan. He was recently arrested. I received a call today from the general manager of the dealership stating that the "bank has kicked the car deal back" but he would not explain why or provide any additional information.

So, I took it upon myself to reach out to the finance company. I talked with a representative who stated that the loan has not been rescinded and gave me the funding date and loan #. I am concerned because the dealership's general manager is requesting that I bring the car back (yet the finance company is saying the loan is funded). I asked the general manager if there is anything I can do to complete the deal (i.e. adding my name to the loan). He stated that I need to submit my own loan application. I am confused because it appears that the loan was already funded by the lender but the general manager is not trying to work with me. What are my options to try to keep this car? please advise.

 

[Just Blue]

What is the name of your state? Georgia

More information is required.

 

[BSams1991]

More information is required.

My husband purchased a car for me about 2 weeks ago from the same car dealership where he works. His name is the only one on the auto loan. He was recently arrested. I received a call today from the general manager of the dealership stating that the "bank has kicked the car deal back" but he would not explain why or provide any additional information.

So, I took it upon myself to reach out to the finance company. I talked with a representative who stated that the loan has not been rescinded and gave me the funding date and loan #. I am concerned because the dealership's general manager is requesting that I bring the car back (yet the finance company is saying the loan is funded). I asked the general manager if there is anything I can do to complete the deal (i.e. adding my name to the loan). He stated that I need to submit my own loan application. I am confused because it appears that the loan was already funded by the lender but the general manager is not trying to work with me. What are my options to try to keep this car? please advise.

 

[PayrollHRGuy]

I would stop conversation with the dealer at this point. I would request from the finance company any documents they have that support that the deal is good and done. I would also make damn sure payments are made on time to the finance company.

 

[HighwayMan]

Where is the car? Was it delivered or is it at the dealership?

 

[PayrollHRGuy]

According to the OP.

...dealership's general manager is requesting that I bring the car back...

 

[Zigner]

What is the name of your state? Georgia
My husband purchased a car for me about 2 weeks ago from the same car dealership where he works. His name is the only one on the auto loan. He was recently arrested. I received a call today from the general manager of the dealership stating that the "bank has kicked the car deal back" but he would not explain why or provide any additional information.

So, I took it upon myself to reach out to the finance company. I talked with a representative who stated that the loan has not been rescinded and gave me the funding date and loan #. I am concerned because the dealership's general manager is requesting that I bring the car back (yet the finance company is saying the loan is funded). I asked the general manager if there is anything I can do to complete the deal (i.e. adding my name to the loan). He stated that I need to submit my own loan application. I am confused because it appears that the loan was already funded by the lender but the general manager is not trying to work with me. What are my options to try to keep this car? please advise.

I don't believe that you have any responsibility to do anything with the car. I'm a bit surprised that the finance company even talked to you.

 

[BSams1991]

I would stop conversation with the dealer at this point. I would request from the finance company any documents they have that support that the deal is good and done. I would also make damn sure payments are made on time to the finance company.

Thank you for your response. When I arrive home last night, I had received a payment package from the finance company so I registered the account and setup automated payments.

I will stop communications with the dealership as you advised. However, I already sent an email to the dealership's general manager this morning restating that the finance company has funded the loan and advised him that I may have to reach out to the BBB and the Secretary of State if he persists in requesting the car back.

 

[BSams1991]

I don't believe that you have any responsibility to do anything with the car. I'm a bit surprised that the finance company even talked to you.

Thank you for your response. I understand that the finance company shouldn't talk with me due to privacy laws; however, they were trying to provide assistance.

 

[Zigner]

...I may have to reach out to the BBB and the Secretary of State if he persists in requesting the car back.

The BBB and the Secretary of State have nothing to do with this. Even if they did, YOU have no cause for reaching out to anybody (except maybe the body that regulates the finance company's privacy obligations.)

 

[PayrollHRGuy]

Thank you for your response. When I arrive home last night, I had received a payment package from the finance company so I registered the account and setup automated payments.

I will stop communications with the dealership as you advised. However, I already sent an email to the dealership's general manager this morning restating that the finance company has funded the loan and advised him that I may have to reach out to the BBB and the Secretary of State if he persists in requesting the car back.

I'd not waste my time on the BBB.

Where you may run into a problem is the dealer not sending you the stuff you need to register the car.

 

[Zigner]

Where you may run into a problem is the dealer not sending you the stuff you need to register the car.

It's not her car

 

[PayrollHRGuy]

It's not her car

I understand that. Her husband has been arrested not executed or even convicted that we know of and is likely perfectly capable of providing a POA or registering the car when he is out on bail.

I'm betting that the arrest has something to do with work and he got a pretty major EE discount when he bought the car which is why the dealer wants to end the deal but it sounds like a done deal.

 

[LdiJ]

I understand that. Her husband has been arrested not executed or even convicted that we know of and is likely perfectly capable of providing a POA or registering the car when he is out on bail.

I'm betting that the arrest has something to do with work and he got a pretty major EE discount when he bought the car which is why the dealer wants to end the deal but it sounds like a done deal.

Its very likely that it's something along those lines.