City Chevrolet Rescinding Installment Contract Charlotte, North Carolina

You can google "Spot Delivery" to see exactly how it works. The dealer sells you a vehicle subject to financing and then after a couple of days or weeks tells you to bring the vehicle back because the financing did not go through. Most of the time the dealer then puts heavy pressure on you to either pay more money down or accept a higher interest rate in order to keep the car.

You can use this to your advantage. One, bring the vehicle back and make sure you get a proper cancelation of the sale in writing. You will want to see paperwork that unwinds the deal and releases you entirely. Make sure you get a copy right then that releases you. Also, naturally, you will want your deposit returned. The dealer may have language in the original contract to deduct for milage or even a 'rental' amount.  That would be normal. Some very unethical dealers attempt to keep the entire deposit.

If you still want the same type of vehicle, go to your credit union (CU) with your documentation and get your financing there. It is probably a good idea to even go to the CU right away if you want to buy that specific vehicle. They have got to have better financing available than Americredit. From what I have read about Americredit, the dealer may have accidently done you a favor. Good luck with your new financing. (BTW, I assume that the dealer's F&I guy didn't understand your income so you were denied because s/he didn't provide the appropriate paperwork. There may be other reasons, find out from the dealer exactly why Americredit said no.)

Gather up all of your paperwork and take it to your attorney.  What they are doing to you is illegal in my state, and probably in NC as well.  Don't allow Rick "Rip Off" Hendrick and his City Chevrolet Thugs get away with this, as he did with the "ToyotaScam" that he sleezed he way out of a few years ago.