Dealer titled car to me without securing financing. What next?

numisguy

I purchased a car in Massachusetts from a dealer. We completed the paperwork and I drove off with the car on the same day with approved financing and having signed the financing paperwork. The dealer assigned the financing to another lender at the same time. The dealer titled the car in my name and then 4 days after title the financing fell through. Right now I have the vehicle, a title in my name, and no loan. What happens next?

stever

"ask for a copy of the letter denying financing at the agreed-upon terms. This simple request might bring an end to dealer demands. If it doesn't, you can return to the dealership to discuss the situation — but not in the car you bought. The dealer might try to seize the vehicle as leverage for his demands. If the dealership can prove the loan was denied, of course, you have to bring the car back and figure out your next step."

Don't Fall Prey to Spot Delivery Scams and Yo-Yo Financing

More links:

Spot Delivery Scams (lemonlaw.com)

Spot Delivery Puts the Dealer in the Driver's Seat (consumeraffairs.com)

This caught my eye too:

"spot delivery is ... a practical impossibility in Massachusetts because of state regulation." (Automotive News)

You may want to contact your local consumer protection agency or the attorney general's office for more info.