Dealer asking for references after sale?

[RedRide]

If the contracts are alreafy signed, it's a done deal so, I would not worry about raising intrest rates.

They just seenm to have some loose ends to attent to.

In todays world good cedit and a solid identity are all important.

I used to have a PO Box on my drivers license and it caused all kinds of financial problems concerning loans and bank accounts after the HSA was enactred.

[bearda]

Originally Posted by RedRide

If the contracts are alreafy signed, it's a done deal so, I would not worry about raising intrest rates.

I hate to say it, but that isn't necessarily true. A surprising number of dealers now are running a pre-authorization check with a bank to determine if you can get the financing that isn't terribly thorough. They usually sneak in a form stating that although the bank has pre-approved you for the financing they can still reject you, and in that case if the dealer can't line up comparable financing within some amount of time (5 days or so) you have to return the car.

Happened to a friend of mine with less-than-perfect credit. She was a little surprised they approved her for financing in the first place, but went with it and drive off with the car. A week later they called her back and told her she needed to come in with a cosigned, put down a larger downpayment, or return the car. I looked back through the financing papers for my car and lo and behold found a clause saying they could have done the same for my car (from a different dealer).

EDI:
Found the thing I was looking for earlier:
http://www.lemonlaw.com/spotdelivery.html