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    micknpcola2000's Avatar
    micknpcola2000 Posts: 1, Reputation: 1
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    #1

    Aug 11, 2011, 06:07 PM
    Mandatory Conditions on Making a loan
    I have only recently been told that when I applied for a car loan, the bank said I was approved but in order to do the loan I had to Purchase additional produsct such as extended warranty, Gap insurance and credit life and disability in order to make the loan I live in the state of Florida not sure what the laws are on this being an enforcable contract
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Aug 11, 2011, 06:59 PM

    No, they can require you have full coverage auto insurance but you are allowed to purchase anywhere.

    The dealer is trying to cheat you. Ask them provide this in writing and I bet it all changes.
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