Hello everybody I'm new to this forum! My wife recently purchased a car through Ford dealership finance two weeks ago. And now the bank denied her loan so the dealership want her to return the truck she purchased.
What happen was the bank that approve her for finance did a phone question interview for fraud reasons I guess with her last Friday and she didn't fully remember her zipcode for her previous employer and previous residence and they wont give her a 2nd interview. Because of that they told Ford that she is denied today.
What can be done for her to keep her vehicle?? Is this a scam? I totally wasn't expecting this 2 weeks later. Thanks
Return the car. It’s not a scam. Most states have regulations that say the dealer has a certain amount of time to get you financing. It’s 4 business days in my state. After that you have to return the car and make a new deal. No exceptions.)
Talk to some lenders and try to get financing before you pick a car.
if you have to use dealer financing, go earlier in the day, durring the week so underwriters at banks are available to finalize the loan BEFORE you leave the dealership.