Quote Originally Posted by plv
Maybe I should have explained it better. Its not illegal, and most dealers were requiring this. From CFC website:




My parents paid fully, the dealer is holding on to a check and won't cash it until they have a response from the program. Technically the dealer still owns the car until it gets paid, its all in a contract. Have a temporary tag so gotta carry all the paperwork in the car.

The only party taking a risk here is the dealer, for if we decide to return the car we basically used it for a few weeks for free. We only have to pay if we damage something, not for regular wear and tear or mileage.
No its bullshit. Its just like when dealers "sell" people a car on the weekend based on what they think the bank will accept, you go home with the car then they call you back saying "hey the bank needs 2k more down".

Who the hell sells anything on "hold"? Either the car is sold/titled or not. I do understand the dealership wary of CFC due to the huge backlog of paperwork for them to get their money but that has NOTHING to do with the consumer.