Can they take my car away?

2 weeks ago I went car shopping, an was approved for a car loan, last week I went an signed papers,,an thought everything was finalized,,,now my finance guy calls me an tells me he needs last years w-2,,,i asked if there was a problem, an he tells me that what i told them an my year to date so far, was not matchin up, well it wouldnt because I make most of my money in the summer, so they cant come back on me,,,an %26quot;take back%26quot;the loan or anything ,,can they, I have never bought a car before an not sure what all this means,,hope all of that made sense,,thanks steph

Can they take my car away?

If your past W-2 matches up to what you claimed that you made? There should not be a problem.

Can they take my car away?

When the car dealership gives you the car it is contingent upon the bank approving the financing. The bank may have came back and said they needed more information to approve the loan. They can do this. The dealership is in essence just %26quot;loaning%26quot; you the car based all upon the final approval from the bank. They deal with several different lenders are probably trying to get you the best intrest rate. If you have the w-2%26#039;s produce them or see if you can get a co-signer.

Can they take my car away?

Yes they can take it away. The bank approves you not the dealership. If the bank says no it%26#039;s no. The dealer submits the application and basically gets a pre-approval but the bank goes over your app with a fine tooth comb before they officially approves the deal and if they find any flaws then they can back out of the deal. Do you know how many people drives off a car lot with a new car and have to turn it in days or weeks later. This is common.

Can they take my car away?

Explain this to them and give them copies of your W-2s or last 2 years tax returns. If what you told them is the truth they would have no reason to take the car back.