<prompt> Human: I didnt know what to call it so tactic is the word I went with. Heads up this may be better in rlegaladvice but well see what happens.I posted a bit previously regarding the finance amount vs monthly payments on purchasing a car, and it turned out I wasnt fully informed of the situation so that aspect is all clear to me now.Now the issue is this. The dealership is having a hard time getting the loan approved and has even had to go out of state to try for loans. Its not looking too good that the loan will get approved by any bank. The issue is - her truck she traded in is now sold. Normally if the loan doesnt get approved, I would assume the whole transaction is reversed and she would get her truck back. But the dealership has already sold the truck - before the loan is approved. So what happens now if the loan never gets approved and she has to give up the car? Are there any kind of laws or regulations that protect the consumer in situations like this?My other question is regarding the loan itself. So when she was first looking around, she was quoted 418 a month. Of course there are factors that affect that price, especially after looking around for the financing, but the price ended up 476 a month. After in-state banks declined the loan, and the dealership starting looking out of state, the price went up to 504 a month, but a slightly shorter loan term. The dealership is now saying that by law that is the price it will stay at - banks cant say well take this loan if x happens. They can only say yes or no to the loan terms as its presented. Is this true? Should it be concerning that the monthly payments are going up? Is it too late to go back to fight for a lesser price, since the loan hasnt been approved by anywhere yet? Thanks in advance! This has definitely been an eye opening experience and will better prepare myself for when Im purchasing a vehicle of my own. And I dont think itll be from the same dealership because of whats happened.Edit: I realize the loan terms arent the best and she should probably wait, but the reason why she doesnt want to wait is because 1 its a car shes always wanted and 2 she has no other expenses as of now so shes not too bothered by higish monthly payments. Of course 418 was a lot more attractive than 504 but she really wanted it. My biggest concern isnt with the loan details. I dont really need any input on that. I am just wondering what happens on the legal side if the loan doesnt get approved. I was wondering if the dealer is obligated to get her back into a similar vehicle since they already sold the trade in, or how that would work. But that sounds like it all depends on what the contracts say. Thank you everyone for the responses.Assistant: Usually they pull your credit and compare it to a standard model and then send it to the bank or lending institution for approval the following day. It is fairly common with higher risk loans to not get the approval from a banks underwriter. So either her Debt to income is too high, bad credit, or she was underwater on her trade and they are tacking some of that debt onto the purchase price and have pushed the loan over what finance company is willing to loan for that vehicle. IE 20,000 car and they are trying to get 25k on the loan Unfortunately she has already signed on the dotted line and usually the contracts are set up in such a way that the agreed price of trade, the vehicle price, and financing are all somewhat of a separate transaction. Which means financing can fall through and the others can still be held up. I would bet her sales contract has verbiage stating it is her responsibility to secure financing. The vehicle can be repossessed and any debt that is owed will be collected. I just read your old post. It sounds like some extras have been added in at the end of the process and on top of that she was upside down on the traded vehicle and they are trying to get more money than what the car is worth. I would review the sales contract and dissect to get the actual amount she agreed to finance before she went to the finance office and approach local lenders and try to get a loan. Look at the financing contract she signed and see what other fees and misc things were added on at the end. As none of the figures you posted in your last post add up to make any sense.Being blunt with you it sounds like neither of you has a realistic picture of what the actual situation is and without that you will have a hard time getting solutions to your problem. Buying a vehicle is a confusing and complicated process. If you dont take your time and do research you will get burned and they will do it legally and without an ounce of remorse. She should have copies of all the paperwork including the financing. Human: - Credit is fairly low and shes still young 620- Debt to income is really low as shes living with her parents. Her previous truck was really the only debt other than a Macys card that was almost paid off.- The trade-in vehicle appraised 8500, she owed 11,700- New vehicle sale price 26,500- The APR was around 7.4, 84 month loan - biweekly payments which would make the loan 8 months shorter. But now they were looking at a 72 month loan which is why the price went from 476 to 504 a month. I know the monthly payments are a small factor but her biggest concern was the initial jump from 418 to 476.Also I noticed a 2900 extended warranty fee on the loan terms through the bank they were applying to at the time. Is that normal?  <response>: Sorry but you two should not step foot into a dealership ever again because that is a horrible, horrible deal. Extended warranty? Unnecessary and overpriced. 8 interest? Not terrible, but not good either. 84 month loan? If you have to spread the loan over that far to afford the monthly payments.. you cant afford that vehicle! Then negative equity on top of all that?What was the original reason of trading in the first car? 