A Tennessee woman fell in love with her brand-new Tesla, only to be forced to give it up in less than a month. TikToker and hairstylist Chan Marie (@itschanmarie) demands answers after the dealership calls her to say the bank didn’t approve her loan.
“I don’t understand this,” Chan Marie said. “Is this even legal?”
The creator asks how it’s possible for the dealership to let her drive away with the car and tell her it was approved, then backtrack a month later.
“I have never in my whole 32 years of life heard of anything like this before,” Chan Marie vents. “If I wasn’t approved, how the [expletive] was I able to drive off the lot with the car?”
Chan Marie did clarify that she was getting her down payment back since it was “out of her control.”
“I did take it to Tesla, and Tesla did say there were a few things wrong with it that will have to get fixed immediately,” Chan Marie shares. “But you know how car places will try to do the most …because they want that money.”
The TikToker even spent $600 on new tires, she says. Chan Marie concludes the video by wondering whether she can take the dealership to court over the situation.
“I just feel played,” Chan Marie says.
Well, can she sue the dealership over the Tesla? It depends
While Chan Marie may have never heard of a car being taken back, it can happen. A dealership can have the buyer drive off if it has a temporary approval from the bank. However, if the bank ends up denying the loan later, the dealership can take back the car. Chan Marie perhaps had a contingency in the agreement that stated having a “pending loan.”
According to Bank Rate, there are a few reasons why your car loan may be denied after the fact:
- Lost your job
- Income went down
- Your application contains unverifiable information
The site states situations like this are rare, and warns to cross-check whether you have been scammed.
What’s a yo-yo car sale?
In the event that the dealership knows your loan will be denied, it may point to a scam called a “yo-yo” car sale. NPR delineated a piece interviewing an expert about this dark car sales practice. Basically, if a dealership calls you back saying your loan wasn’t approved, they will ask you to sign a new contract—often with worse terms—so you can keep the car you have now fallen in love with. Sometimes these new terms will have higher interest rates or a higher down payment. Another term for this sale is “spot-delivery.” Not all of these instances signal a scam, but it’s best to read your terms in the agreement to make sure you aren’t getting taken advantage of.
What should you do if this happens?
RateGenius recommends simply returning the car if you think you’ve been a victim of the scam. You could also try to secure financing on your own, the site states.
@itschanmarie I FEEL SCAMMED! I really can not believe this is happening!!! It’s like they do not want to see a young black woman in a nice car! SOMEBODY TELL ME HOW CAN THIS BE POSSIBLE!#fyppppppppppppppppppppppp #fypシ #fyp #fypage #fypシ゚viral #carlot #newcar #cartrouble #scam #scammed #pissed #opinion #help ♬ original sound – 1chanmarie
Lastly, RateGenius suggests seeking legal help or taking legal action if the dealership was knowingly unethical. It is unclear whether Chan Marie’s dealership tried to strong-arm her into another contract, but considering she gave it back and trusts “God has something better” in store for her, she’s in the clear.
The Mary Sue reached out to Chan Marie via email.
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