Can a car dealer resell the car for full price after it has been rear ended?
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Recently I wеnt tο a Nissan dealer іn West Covina California, I took out a nеw 09 Nissan cube bυt wіth іn days I gοt rear еndеd. Thе car іѕ currently іn a body shop. Bυt now thе dealer іѕ asking fοr thе car back bесаυѕе thеу саn’t find a bank tο approve thе loan. Mу qυеѕtіοnѕ аrе whаt rіght dο I hаνе? Wіll I gеt mу down payment back? Cаn thе dealer resell thе car fοr full price аftеr іt hаѕ bееn іn a car accident? Cаn’t thе dealer refinance thе loan? Whаt саn I dο tο keep thаt car?
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No they can’t, it’s illegal.
In order to keep the car you will have to find someone to finance the car. Once a car has been sold and the title work is started the vehicle will have to be sold as used. As for the price, they can price it how ever they chose. It is up to the buyer to decide if they are willing to pay their price.
don’t talk to us…talk to the dealer…doesn’t matter what WE think…
but here goes
1 no it cant be sold as new
2 your insurance should cover you except for deductible
3 your gona lose money on this deal however it goes
4 your not gona get a “new” car without more money
5 talk to insurance co before you turn car over…you could end up with no car and still have a loan to pay
6 keep copys of ALL paperwork and make a log of ALL phone calls and meetings
7 sorry but your live has changed for the worse…good luck
What do you mean “what right do I have”???
You tried to buy a vehicle you clearly were not creditworthy for.
That’s not the dealer’s problem.
To answer your questions?
1. You probably should, but don’t deserve it, but if the wreck was not your fault…
2. Uh, no.
3. See my first point. You can’t refi a loan you are not creditworthy enough to qualify for in the first place!
4. Come up with more money? You did NOT qualify for this loan!
You have the right to your down payment back.
You have the right to keep the car by paying for it in full.
The dealer can charge $10,000 over sticker for a wrecked car if they find someone stupid enough to pay it.
Tell them thanks for the free rental and get every penny of your down payment back.