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I just purchased a 2003 Ford Explorer and the dealer told me I needed a downpayment of $2495. all I had was $780. so I gave them that and they wrote up a finance contact for me to pay them the additional money at $75 per month until the balance was paid off. They also wrote up a finance contract through the bank that said I put down the full amount of $2495. I have payments of $249 to the bank. Can the dealer do that? someone told me what they did was illegal.

Answers from the Automotive Experts

Julie Kimes, General Sales Manager at O'Daniel Automart / O'Daniel Mazda In Indiana which is where I am located it is indeed Illegal. It is stated in our dealer agreements with most of our lenders. Where do you reside, and what lender is your finance contract through

Chris Walsh, Owner at Consolidated Automotive Services of indiana I am not aware that it is ilegal. Who cares who you borrowed the money for the down payment from it could have been your mother. The fact is you paid the down payment. If they had inflated the price of the vehicle and showed you paid a down payment that you did not. That would be illegal.

Jessie L Thatcher, F&I and Sales Specialist at Reynolds and Reynolds Company  (Retired) It depends on the laws in your state. In my state this is illegal. You are not allowed to write two liens on one vehicle. Check with your state attorney general's office. You can do that on line or by phone.

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