Finance, bank backs out after two weeks

[James Henry]

Hello everybody I'm new to this forum! My wife recently purchased a car through Ford dealership finance two weeks ago. And now the bank denied her loan so the dealership want her to return the truck she purchased.

What happen was the bank that approve her for finance did a phone question interview for fraud reasons I guess with her last Friday and she didn't fully remember her zipcode for her previous employer and previous residence and they wont give her a 2nd interview. Because of that they told Ford that she is denied today.

What can be done for her to keep her vehicle?? Is this a scam? I totally wasn't expecting this 2 weeks later. Thanks

[Alexander Felice]

Also spent some time in the car business, in the finance side. 

this is common, the mindset of the dealer is this: they want people to leave in a certain percentage of cars that they ultimately won't be able to finance RATHER than prevent sales becuase they think they ultimately won't be able to finance. 

for buyers on the margin, the deal is finalized long after you leave. They negotiate and almost all the time they come to an agreement. Many times you come back in and the terms are BETTER because they had to give up some of their profit to fund the deal, but there are times when there is no possible solution and they have to call the car back. Its sort of a sleazy process from the buyers side, but from the sellers side the motto is "if you don't have 5% of your cars coming back, you aren't selling hard enough". 

give the car back, it's just a car, NEVER get emotional over a luxury depreciating asset.