How long does a dealer of a used car have to find you financing you have had a car for over 45 days and the dealer keeps saying they are searching for financing?

1. How long does it take a dealership to find financing?
2. Can a dealership take a car back after you signed the contract?
3. Can a dealership decline financing?
4. How long can a dealership run your credit?
5. How long does a car loan take to get approved?
6. Can I cancel a car finance agreement within 14 days?
7. Can I cancel car finance within 14 days?
8. Can you return a used car if it has problems?
9. Can a bank denied a car loan after purchase?
10. How often do car loans get denied?
11. Can a loan be denied after approval?
12. How many times can a dealership pull your credit?
13. What happens when car dealerships run your credit?
14. Do car dealerships have to pull your credit?

How long does it take a dealership to find financing?

The standard California car contract only allows the dealer 10 days to find financing. If the dealer cannot honor your agreement, they must notify you that they are cancelling the contract. You must return the vehicle to the dealer.

Can a dealership take a car back after you signed the contract?

The short answer to the question is “No”. Once you've signed on the dotted line of your purchase agreement, the car is yours. ... A customer may take delivery of a car on a Friday, drive around for the weekend and suddenly see something that is much more appealing. But once you've signed the deal, this is binding.

Can a dealership decline financing?

Dealerships can refuse any type of financing for any reason. It's not immoral or unethical; it's just business. That said, car dealers usually refuse outside financing if they've lowered the price enough.

How long can a dealership run your credit?

Currently the typical time-frame is 14-days because most lenders are still using the older version of FICO for auto loans. All the inquiries you mentioned, if done within a 14-day period, should count as ONE inquiry and not hurt your credit score.

How long does a car loan take to get approved?

Car loans take about one to two days on average to process until you get approval. This can be influenced by a few factors such as your credit history, providing enough documentation in a timely manner, verifying your identity, and your details of citizenship or permanent residency.

Can I cancel a car finance agreement within 14 days?

Can I cancel my car finance deal within 14 days? The Consumer Credit Act gives you 14 days to withdraw from a credit agreement, known as a cooling off period. This applies to all forms of car finance, and stands whether you applied online, on phone or in person.

Can I cancel car finance within 14 days?

Whether you have rushed into your agreement or you've found a better deal elsewhere, you should be able to cancel your car finance agreement for up to 14 days after you signed on the dotted line. This two-week period is known as a 'cooling off period'.

Can you return a used car if it has problems?

While there are some federal Lemon Laws protecting consumers, individual states may also have their own laws regarding defective vehicles. ... If the defect is unable to be fixed after several attempts, the owner may be able to return the car in exchange for compensation or a replacement vehicle.

Can a bank denied a car loan after purchase?

Can You Be Denied a Car Loan After Purchase? You can be denied a car loan after you've purchased it. It's unlikely that a bank will do so, but it's more common for a dealership to revoke a loan if you've financed through them.

How often do car loans get denied?

13 percent have gotten rejected for a credit card. 5 percent have been turned down for a car loan.

Can a loan be denied after approval?

You can certainly be denied for a mortgage loan after being pre-approved for it. ... When a lender pre-qualifies you for a loan, they just take a quick look at your financial situation. Then they throw out a number they might be willing to lend you. It's all very breezy and informal (i.e., worthless).

How many times can a dealership pull your credit?

Each rate quote, however, requires the lender to run its own hard credit inquiry. Thus, a single auto loan application made to a single auto dealership can realistically trigger 10 to 20 (and possibly even more) hard credit inquiries on a consumer's credit report.

What happens when car dealerships run your credit?

When a car dealer runs your credit (after filling out a credit application), they will see your financial history. It will show the length of your credit history, your payment history, any outstanding debt you have, and roughly 30 different credit-related factors.

Do car dealerships have to pull your credit?

A dealership needs your permission to run a credit score and report. They may ask you for it as part of the sales process, so they can find out what kinds of financing you are eligible for and therefore how much you can afford to pay for a car.