In summary, Nissan of North Olmsted said they would not take the car back that I purchased from them after I was not able to secure financing (Notice of Adverse Action, Termination or Change). They told me they would declare the vehicle abandoned and would have the vehicle towed if I left it on their property. Then they said they had secured financing for me. Therefore the car was repossessed. They are sending me letters thanking and congratulating me on my purchase when I have already returned the car.
I followed what my contract with Nissan stated I should do. I Turned the car back in if I was not able to get financing according to their "Conditional Delivery Agreement". Also, after I could not secure financing, because there would be no way for me to repay the loan if I don't have a job, without my agreement, they are forcing the financing through with Nissan on the vehicle.
I was honoring my agreement according to the law and turning the vehicle back into them. I believe this is a manipulation of the law and the dealerships licensing should be pulled if they will not honor their agreements.
On Thursday, June 24, 2010, at about 10pm, I signed an agreement to purchase a 2008, Nissan Altman Coupe from the car dealership Nissan of North Olmsted, 28500 Lorain Road, North Olmsted, Ohio 44070.
On Friday, June 25, 2010, at 5:00pm I found out I lost my job.
On Saturday, June 26, 2010, at about 12pm, I called my credit union about the job loss and they pulled my financing with a "Notice of Adverse Action."
On Saturday, June 26, 2010, at about 12:15pm, I called Nissan of North Olmsted and told them I had to turn the car back into them because I could not secure financing because of a job loss and my inability to repay the loan without a job.
On Saturday, June 26, 2010, at about 2pm, Nissan of North Olmsted called me and left a message that I had to keep the car because they had financed it.
On Monday, June 28, 2010, from 4pm to 5pm, I returned the car according to my agreement. However, this was not without the dealership threatening to declare the vehicle abandoned and then stating that they would say the car is being repossessed.
On Monday, June 28, 2010, at about 5pm, I reported this to the North Olmsted police so they would know the vehicle was not abandoned.
Nissan North is now considering the car purchased and pushing through the financing on my credit when I have no way to repay the loan.
Please let me know what can be done to insure that this does not adversely affect me and that this dealership cannot do this kind of manipulation in the future.
Product or Service Mentioned: Nissan Car.
Monetary Loss: $21050.