If they approved your financing and you signed an agreement with them and they suddenly discovered their mistake and attempt to strong-arm you into backing out of the deal, you may be able to enforce the contract.

Do you need to scrutinize a company’s financial statement?

So, even when a company uses GAAP, you still need to scrutinize its financial statements. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.

What happens if a financial statement is not prepared using GAAP?

If a financial statement is not prepared using GAAP, investors should be cautious. Without GAAP, comparing financial statements of different companies would be extremely difficult, even within the same industry, making an apples-to-apples comparison hard.

Do you know if your car loan is approved?

As hard as it seems to believe, many car dealers will sell a car to you and not have any idea of whether or not your loan is “really” approved or not. They do it because they know that if they can put you in their car and take you out of your old car, then they also take you out of the shopping market and that keeps you from buying somewhere else.

What happens if the dealer wants the car back?

Now the dealer wants its vehicle back and you are left holding the bag, maybe even out a down payment or other fees as well as the cost of any aftermarket additions to your vehicle. What do you do?

When does a car dealership deny a credit application?

Today – 3 weeks later I got a letter in the mail saying the application for credit/financing was denied. The first payment would be due 3/31 so I thought the letter was regarding that but it wasnt. Has anyone seen this before? I havent called the dealership yet but wondering what can I do ? 03-02-2017 04:04 PM 03-02-2017 04:04 PM