Can a new car dealership change my initial loan without my permission?

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I bought a new car from a local new dealer. After my purchase, a few weeks later I started to receive loan info. from a different loan company than I took to the dealership. I called the dealer and they said that they changed my loan company without my permission. They stated to me that my loan company need more info. and the did not want to disturbed me. So, I called my loan company to see what info. they had need and they told me that the deal just never submitted the loan for funding. The dealer told me they change loans on people all the time. I feel like my finances should be my decision now somebody else's.

2 Attorney Answers

Best Answer
Look at your loan documents. There is probably a clause or two in there about selling or transferring your loan to another company. This happens a lot. Especially with home loans. It is legal since it was in the contact that you signed.
Best Answer
If the dealership changed the loan company and basically took a loan on your behalf without your permission, that could be an issue and you should look for a consumer rights attorney to review the situation. However, your loan company can generally sell the loan to another lender or servicer. If that is what happened then you probably have no cause for complaint.

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