Does a dealership have the right repossess a car, if they let the customer have the car without fully securing the financing for it?
Question Details: I thought I recently purchased a car. However, I found out that after the dealership let me leave with it (I’ve had it for a month now) the finance company declined my loan. I bought the car on a weeknight and I left with all of the other normal things you would expect when purchasing a car. I was not notified from anyone, I found out by the finance company when I was declined to make my first payment.
Yes, they would if you cannot pay for the car (whether through financing or otherwise): the car sale agreement(s) give them the right to repossess a vehicle which is not being paid for, regardless of the reason the vehicle is not being paid for. They could also sue you for the money you owe under the sale agreement, offset by any amounts they recover by repossessing the car.