Anyone here familiar with the spot delivery laws. It's where you agree to terms with a dealer, bank approval pending...they send you home with the car, but call you back a week later to say that the bank couldn't get that rate. They try to trap you in because they gave your trade in away already, or some crap like that. Any info is appreciated.

 

Check your final invoice. To the right of your itemized costs (car, taxes, trade-in, etc) should be a section for the financing. It should include your APR and monthly payment amount. Now, if the contract is signed (which I assume it is) then the dealership is obligated to honor that rate. Meaning if they can't get bank approval for you then THEY have to finance you at that rate and payment. Check with your local DMV, they should be able to give you all the specifics concerning the dealerships obligation. The gist of it though is that if both of you have signed (dealer and yourself) then you have a legal contract which he dealer has to honor.