I have a few questions. I was talking to a lady online because I can't afford our van payments, we pay $335 a month not including insurance. We got a van from the Car Company. When I went and got a copy of the application from our bank, I seen it was fraudulent. They inflated my income, I only grossed about $1200 monthly and they said I grossed $1700 monthly. They also lied and stated we were living in our home for one year and it was only one month. They also infalted the vehicle because they presented it as used to us of course because it was a 2005 but on the application they put New. They also had our previous address incorrect. This copy of our application consisted of 3 pages, but and shows we signed the fourth one, but I don't think we seen those pages since they are separate. Had I seen those mistakes I would have said something. I didn't want to get in over my head. Had that information been correct on that application the bank would not have agreed, but because the car company provided false information to get the loan to pass. They must have know it wouldn't for them to have to inflate the income and make the application fraudulent. I called the car company about it and talked with the manager and he stated he came there 7 months after this deal so there was nothing he could do for us. Any information would be greatly appreciated. The lady I was talking to on the Internet stated I talk to you. Thanks and I look forward to hearing from you. Krystal

Did you sign the application, And if you did, even if the same manager was there, they would merely swear this is what you said and you signed it.

So it could come back that they say you did the fraud not them, unless you can prove with a copy of the application that you gave them the other info

Yes but the papers were all separate and I don't believe they showed these to us because it was a complete surprise. I would have informed them of these mistakes, especially the vehicle is not new so that inflated the van value as well as they inflated my income. I which I made that much but they knew obviously it wouldn't pass so inflated it. Have my paycheck stubs that I took with us and showed them.I don't believe they gave us a copy of that, I got the info I have know when I went to the bank and requested a copy of the application. Thank you so much for your information!

Yes, don't know this car firm, but what you have said is not really unheard of in the used car loan, some people have ended up with their loans declined a few weeks after buying cars. And the bank of course will still hold you liable, or worst call the note due in full for the problems.

So I guess the issue is can you prove that someone at the car place lied, how can you prove you were not aware.

Hello k:

If you can't afford your payments, than that's just so. Nothing is going to change by going after the seller. You have NO proof about your allegations. And, they HAVE your signature on the application... So, there's NO CHEESE down that tunnel.

If you can't afford your payments, SELL it, and pay the bank. If it's worth LESS than you owe, then that's just so too.

excon

Here's the rub. Whether the seller obtained the loan fraudulently or not is a matter between the lender and the seller. But you knew the terms of the loan and signed the contract. So you really have no recourse against the seller. If you default, the lender COULD go after the seller for providing false information on the loan application. Assuming you can prove they falsified the info, not you. But they will go after you first.