Can they repossess our car? What can we do?

[HHM]

to me it sounds like the dealership paid off your loan.

Depending on the laws in your state, you might actually now have the car free and clear. It looks like the dealership sold you the car, accepted the money from the bank, and you left. They then wanted more from you, so they "cancelled" your financing by paying the money back to the lender, and therefor, paying off your loan.

If you didn't sign any new paper work, i'd try and see if you could tell the dealership "thanks for paying for my car." Definitely call up the bank, record the call, and ask about the status of your loan again. Also give your lawyer copies of the title, and also try to get a letter from the bank giving you a statement of your account.

I bet if you fight this, you may end up screwing the dealership that tried to screw you.

I highly doubt that is what happened. It really does not work that way behind the scenes. But the attorney you spoke to is probably correct, this is a one in one-hundred thousand scenario. The fact of the mater is, if the buyer did not pay cash for the car, they do NOT own it (regardless of what the title says).

[BigJohn]

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[HHM]

As for an attorney, we qualify for legal aid so we don't have to pay anything.

The lawyer says, yes we had a loan but the dealer had the loan canceled. The dealer canceled the loan in retaliation of a complaint I file with Toyota Corporate. We haven't done anything wrong; we are just victims. What is making this a battle is we want to keep the car and yes, we know it really is not paid for.

That is a nice summary.

Hopefully this problem can be resolved with only a phone call and letter from your attorney.

[BigJohn]

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[BigJohn]

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[sharksfan]

There is also the issue of the bank allowing this to happen without our permission.

I think you need to find out who said what to the bank that allowed the 'unwinding' to occur.

[BigJohn]

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[BigJohn]

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[HHM]

I am with BigBoy on this one. I am not sure what you are really planning on doing.

As I think I said in an earlier post...bottom line, you didn't cut a check for the car, the car is not yours regardless of any questionable behavior by the dealership, loans being cancelled, titles being changed, etc...all those issues are a side show, or red herrings.

As best as I can tell from the facts you relayed, no real fraud or malfeasance has taken place (unless your state has some obscure consumer protection laws). The dealership had to rewrite your loan because no one would underwrite the first go around; no big deal, happens all the time when someone with bad credit tries to finance a car. As for the 2nd go around, that is where things get a little murky, but if you signed under duress, as you say, then there really is no contract; so the dealer probably has a valid claim to cancel it, and even without that issue, could probably cancel it and unwind the deal.

I think you are delusional if you think there is anyway you can end-up keeping this car without paying for it in some way. That is simply not going to happen. I really don't see an end game for you because ultimately, you cannot force a business to finance you; which seems to be all you are really holding out for.

Unless and until you write a check for that car and pay the dealership, or find someone willing to finance you, you don't own that car.

[CindyLou]

IMO it all comes down to the "signed under duress" thing. Period. No company (dealership or bank) is going to want process a contract with that. I am guessing that as soon as the final reviews were given to the loan it was retracted, unwound, brought to a screeching halt!

[BigJohn]

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[BigJohn]

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[BigJohn]

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[BigJohn]

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[poor@budgeting]

This is BETTER than REALITY TV!
I guess this 'yota is really an excellent car!
I wish I can/could talk to MVC, AG, lawyers, bank, detective, etc. when I need/want to.