Can a car dealership demand a larger down payment after I've already signed the paperwork for the loan?

Can the dealer change the loan terms after I already signed the loan? I financed a car through a dealer and signed the papers. Now they're threatening me with repossession if I don't make a larger down payment on the vehicle.

Answer provided by
Eric Schad
Answered on Jul 16, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“What you’re talking about is called a spot delivery and many dealers do it to sell cars.
If you don’t get approved for financing, the dealer may call you and request more money or to bring the car back.
If you look at your contract, you probably signed something that talks about this scenario. In most cases, the dealer is correct.
Bring the car back or make a larger down payment. Otherwise, you can bring the car back with no issues, as you technically were never approved for financing.”

Did this answer help you?

Ask us a question by email and we will respond within a few days.

Have a different question?

You can meet us at our office and discuss the details of your question.

Easiest way to compare and buy car insurance

No long forms
No spam or unwanted phone calls
Quotes from top insurance companies