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Weekend auto loan at Dealership

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mike-fico
Valued Member

Re: Weekend auto loan at Dealership

What dealers will do on non-business days, or after hours, is they will complete the deal using the best information they have, but they will include in the things you sign, a document that essentially states the deal is not final until they can assign the loan and you agree that if in the end, they can't assign the loan you will bring the vehicle back.

 

That way they can work the financial institutions the next business day possibly improving things for themselves.  Or on rare occasions, they may find that they can't complete the deal, and they'll need the car back.

 

Message 11 of 13
Loquat
Moderator Emeritus

Re: Weekend auto loan at Dealership

What @mike-fico is referring to is a bailment agreement.  This is a document that I had everyone sign, regardless of the method of financing.  Good credit or bad, there's always a possibility of something going wrong and this document allows the dealer to recind some things when things just aren't quite right.  

Message 12 of 13
dunn2500
Established Contributor

Re: Weekend auto loan at Dealership

making money is open 24/7........go get your car

 

i can apply anytime day or night and get approved for financing.......money never sleeps. lol

Message 13 of 13
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