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#4532188 - 07/31/20 09:10 PM Any legal guys here?  
Joined: Nov 2019
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NoFlyBoy Online content
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NoFlyBoy  Online Content
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My friend is a UBER Black SUV driver.

He bought a $52000 SUV. He did the whole financing application including showing 2 years of self employed income tax returns, put the required down payment of 40%, they ask for a higher amount cos he is self employed, they let him drive the SUV out of the lot.

That was 29 days ago.

Today he gets a call saying his financing is not approved.

Their reasoning is in this Coronavirus time, the loan company feel his income and job security is uncertain.

Well, in this Coronavirus time, ANYONE income and job security including someone who is employee at a company earning a weekly paycheck working 9-5 income is uncertain.

Now they want him to return the vehicle.

But he already put brand new tires and rims on it and added cameras on the inside. He has to take that out. Also he has put over 3000 miles on it.

What are his legal recourse? CAN THEY DO THAT?

The loan company should had done their homework before telling him yes you are approved, here are the keys, take the SUV home.

Are they going to charge him for the miles he put on it?

They should also refund him the full down payment amount.

How can he make sure it's not on his credit? Don't want him to return the vehicle and then someone comes back later and says you still owe the $31200 loan and 4 years of payments on it.

When he applied for the loan, the dealer send the application to dozens of loaners and banks so his credit go dinged from all those credit checks which changes his entire credit score if he wants to apply for another car loan with another dealer or banks etc.

I think the Dealer should do everything they can to save this. They approved him, allow him to take the SUV home after they told him he was approved, took his $20800 down payment.

The reason they giving him now sounds like Cow Crap! Even without a Coronavirus going on, anyone income and job security, whether employed or self employed, is uncertain.

FINALLY his FIRST payment is due tomorrow. Does he still have to pay it?

Also if he returns it and get his down payment back, how does he get something official in writing saying he is no longer needs to pay the loan and the loan is cancelled.

Thank you.

Also I found this - so is he getting SCAMMED?

http://www.realcartips.com/carloans/405-car-financing-spot-delivery-scam.shtml

Inline advert (2nd and 3rd post)

#4532206 - 08/01/20 12:06 AM Re: Any legal guys here? [Re: NoFlyBoy]  
Joined: Mar 2001
Posts: 15,963
Nixer Offline
Scaliwag and Survivor
Nixer  Offline
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In this day and age, I would highly recommend he hire a soothsayer, or perhaps a friend of the Clintons.

Maybe even start a new marxist oriented Uber Lives Matter Organization?

Last resort? Sue wherever he went to school for not teaching him basic LIFE math and go back to school somewhere that does teach it.

Quote
He bought a $52000 SUV. He did the whole financing application including showing 2 years of self employed income tax returns, put the required down payment of 40%, they ask for a higher amount cos he is self employed, they let him drive the SUV out of the lot.

That was 29 days ago.

Today he gets a call saying his financing is not approved.


Send them to the same school.


Defund NPR!
It's a publicly funded leftist garbage dispenser

Let them eat cheap Ice Cream!
The Strumpet of San Francisco and unofficial excrement inventory specialist

"There's a sucker born every minute."
Phineas Taylor Barnum

#4532207 - 08/01/20 12:21 AM Re: Any legal guys here? [Re: Nixer]  
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Nixer Offline
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Living with the Trees
Originally Posted by Nixer

Last resort? Sue wherever he went to school for not teaching him basic LIFE math and go back to school somewhere that does teach it.


Oh, and basic business/contract law would have helped a more than a little. rolleyes

I don't quote PT Barnum in my sig to burn up bandwidth/pixels. I hope to make ordinary nice guys realize that there are some real jerks out there. Lots in the car business for sure. YouTube is full of tips on how not to get screwed on a car deal.

If it is too good to be true it's not true.

That simple folks. No pixie dust powered cars, gamma ray heated homes or sex like your 20 at 80!

duh


Defund NPR!
It's a publicly funded leftist garbage dispenser

Let them eat cheap Ice Cream!
The Strumpet of San Francisco and unofficial excrement inventory specialist

"There's a sucker born every minute."
Phineas Taylor Barnum

#4532208 - 08/01/20 12:44 AM Re: Any legal guys here? [Re: NoFlyBoy]  
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NoFlyBoy Online content
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NoFlyBoy  Online Content
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I don't understand your answers. What does his math skills have anything to do with his situation? He done everything they asked him to do and provided all the documentation they required of him and pay the down payment they asked, for them to say he was approved for the loan. This is not a used car dealership in a bad area of the city with jackals looking salesmen. This is one of the largest dealership in the city with good online reviews and ratings.

#4532209 - 08/01/20 12:48 AM Re: Any legal guys here? [Re: NoFlyBoy]  
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Mr_Blastman Online content
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Mr_Blastman  Online Content
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Atlanta, GA
He needs to pull out his auto loan paperwork and see what the underwriting provisions were, including the time limit allowed and other terms and conditions.

#4532210 - 08/01/20 12:54 AM Re: Any legal guys here? [Re: NoFlyBoy]  
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NoFlyBoy Online content
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NoFlyBoy  Online Content
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They have $21,000 of his money too. Again they should not have given him the key and allow him to drive out with it for the last 29 days and tell him he was approved and took his down payment and other money for title, taxes, license, and other things if they weren't going to approve him, based on the fact that he is self employed and the Coronavirus crisis makes self employment income and job security as a UBER driver uncertain. As I ALREADY said, the Coronavirus crisis make any employment uncertain. IF that is the logic they going by, NO ONE should be approved for a car loan, not even a person with the highest credit score and 20 years on the job and a million in their bank account because they can lose them all tomorrow. Even without a Coronavirus crisis going on, anyone can lose it all tomorrow.

#4532211 - 08/01/20 01:26 AM Re: Any legal guys here? [Re: NoFlyBoy]  
Joined: Jan 2006
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Mr_Blastman Online content
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Mr_Blastman  Online Content
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Atlanta, GA
He was given the car under consideration that the underwriting of the loan would not run into any problems. It is impossible to underwrite a loan of that size in an hour. These things take time to clear.

#4532233 - 08/01/20 01:42 PM Re: Any legal guys here? [Re: NoFlyBoy]  
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CyBerkut Online content
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CyBerkut  Online Content
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Florida
Your friend needs to contact either a lawyer, or the appropriate state government agency that oversees the car sales business. Social media legal advice is worth exactly what you paid for it.

#4532541 - 08/04/20 12:31 PM Re: Any legal guys here? [Re: NoFlyBoy]  
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NoFlyBoy Online content
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NoFlyBoy  Online Content
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Thank you Nixer, Mr_Blastman, CyBerkut.11 am yesterday was the deadline for him to return the SUV. I have texted him twice yesterday afternoon and evening and no reply. Last time I heard from him was Friday.


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