A deal is a deal right?  Wrong.  Too often a consumer leaves a dealership in his or her new (or used) car only to get a call a week or two later from the dealer telling him that the financing didn't go through.  The dealer then wants to renegotiate the deal.  This is known as a Yo-Yo sale.  Colorado auto fraud laws prohibit this kind of transaction.

You can take delivery on a car before the financing has gone through.  This is known as a "spot delivery" and is perfectly legal.  It allows you to drive your new car off the lot while the dealership looks for financing for you (a sale contingent upon financing), but you know, and the dealership should tell you, that if they cannot find financing you have to bring the car back.

However if someone from the dealership tells you, in writing or verbally that financing has been arranged (a "done deal") then you're an owner and they can not force you to renegotiate.  They might ask for more money down, higher monthly payments, or say that they took a closer look at your trade, they missed some damage and it is not worth what they thought it was.  Not your problem.  If they told you that financing was complete, then you both have to live with the deal.  

Colorado Consumer Protection Act 

In a car deal where the sale is contingent upon financing the CCPA prohibits a dealership from:

• Guaranteeing financing approval when the approval is not final.
• Selling your trade before financing is final.
• Keeping any portion of your down-payment as rent on a vehicle if they can't get you approved.  This applies even if you signed a document agreeing to the per day/mileage charge.

We also handle cases involving odometer fraud, rebuilt wrecks ( undisclosed salvage titles ) and new vehicles that were damaged prior to delivery.