<prompt> Human: I was approved by my Credit Union for 20K vehicle loan, and I had brought the draft to a dealership last Sunday to purchase a vehicle. In the finance office I told them I have this preapproved loan and showed them the draft. They looked at the draft and said that the price they agreed to sell the vehicle to me was if I was financing through them. Long story short including after me preparing to walk away they said if I financed THROUGH them, with this same CU theyre an approved lender, same term-length same interest rate, my monthly payment would be approx 11 more per month but theyre throwing the GAP insurance in there. For the sake of convenience, I agreed on that. So I signed the paperwork and brought the car home.2 days later, the finance manager called me and said that I owe them 400 for the down-payment because the CU refused to extend the whole amount to them whatever that means. So I called my CU and they explained the discrepancy was from the NADA market value. I dont understand any of that. All I know was that I would have used the draft that I had directly requestedapproved AND printed brought it with me but they swayed me to finance through them, NOT telling me that I might owe them more money in the next few days. I do have the signed RISC that stated clearly the interest rate, 0 down, the term-length, and the monthly payment amount. Not sure if it matters, but the dealership ran my credit and my FICO is over 800.Now: Day 3 after the dealership visit- After further research I learned that this is whats called Yo-Yo Sales in the car buying world. At the back of the RISC form its stated that the Seller has 30 days to cancel the sale, or I may figure out another financing option. When I mentioned ...then I want to use the preapproved draft that I had shown you to the Finance Manager yesterday before I even knew it was an option he said that the draft wouldnt be enough. I supposed at this point my options are, once the dealership states clearly that they are canceling the contract, to return the car? Im not even sure yet if I still want to use my draft at this point at this place, considering how shady these people seem however IF I do want to go this route because we do like the car, were just not so thrilled with the way they do this, is it a safe option for me? Or does doing this open up more ways for them, somehow, to pull another kind of trick, let say, a week from now? I dont know what other tricks there are, just like I had no idea that this would happened days after we walked out the dealership that evening thinking everything was a done deal.In short, what are my options here? Im in Florida. And I did bring a trade-in thats now sitting on their lot online ready for sale.  <response>: Hi, Im finance manager for the largest dealer chain in the US. There are several things that might cause the situation youre in. Though the following scenario is by far the most likely.Your credit union issues you a draft for x amount of money. Most consumers believe that now you can just go purchase any vehicle for less than that ammont. Sadly it dosent work that way.The lender sets guidelines and strict rules for the seller when it comes to things like book value for an auto. This is what we call the deal structure.Heres an example.You purchase a vehicle for 15995. To that you must add taxes, fees from the dealer or state, and you must pay to register the vehicle. Using the system in FL your total is now 18118.65You have a bank draft for 18500 so your unpaid balance is covered by your financial institution.Now the dealer took this vehicle on trade, and lets assume that they paid fair market value for the vehicle which was 14k determined by NADA or BLACKBOOK in most cases If you were financing traditionally you would be putting probably 1k or 2k down. But since you have draft, you dont need to. Because you didnt put money down you are now over allowed and the bank will not fund your loan as agreed.This is factored by taking the amount which you are borrowing 18118 vs the amount which the vehicle wholesales for. 14k. In this case you have a difference of 4118. A loan to value amount of 129.4 or an over allowance of 29.4.The funders from the bank tell the dealer the max they will fund for this unit is 125 or 17500. The dealer now calls you to get the rest of the funds to meet loan structure guidelines. Your monthly payment will be reduced but you need to come out of pocket, or have the dealer come down in price if they are willing. Sometimes we just cant. This seems to be what happened.Sorry for format Im on mobile, and this took longer to write out than I anticipated. 