Not doubting that this is a possibility but why would a dealer do this? If the contract couldn’t get funded and the dealer owns the contract what benefit would they get to say they never received your payment? I realize they could demand the car back but theoretically wouldn’t that put them in a worse position than they’re currently in?
The dealer isn’t a bank they don’t want to lease the car themselves and worry about it for the next 3 years. Either the bank accepts the contract or the car is returned to the dealer. But no dealership is going to “play” bank, they are simply not set up for it.
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Agree…unless it’s a “buy here, pay here” fly-by-night used car dealership, the dealer will demand the return of the car, as it’s theirs. They’re not going to take payments for the next 2-3 years. They’ll take the hit on the fact it’s been driven x amount of miles, and resell it if you don’t resign the updated contract the captive wants.
Spoken like a true dealer shill and patently absurd statement on its face. There are many ways to buy cars. #1 - I can just pay cash. Which is how many people buy cars. #2 - I can fund through my credit union, which is how I did it last time. No “captive” involved. #3 - Use a leasing service like roadster.
The title company backed off quickly when I refused to sign the same “correction form” when getting a mortgage. The amateurs should leave legal construction to the professionals.
Are you a professional lawyer?
I think the point mp11477 was trying to make is that most contracts signed have some sort of room or space for human error, be it on the buyer’s or seller’s side. For a buyer to demand that the selling side be above reproach is ineffectual. It’s just not realistic when the entire process involves people. People make mistakes.
Are you trying to make the point that you would avoid signing contracts with overt statements that allow the seller to make unfair and malicious changes?
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He probably won’t buy a fart car either. 
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Yes, I am a lawyer. And no, most contracts do not have room for human error. There is a whole section of contract law 101 devoted to legal analysis of mistakes. It’s a very complex area. My company has hundreds of contract forms and - get this - not one permits a party to unilaterally revise the contract because they claim an error was made. Why would anyone agree to that???
As for the dealers they are big boys and they have lots of financing options. If they can’t get the forms right too bad for them they will have to find another company to finance the deal. It is their contract - you are paying them not to make mistakes and you do not bear the burden of their mistakes. If they do something really stupid, i.e. leave off a digit on your payment then they can ask you to come back and fix it or threaten to go to court to rescind the contract on a mistake theory. But no need for you to agree to let them “fix” an unspecified “mistake” when you don’t know what the mistake is or how it would even affect you.
Most consumers don’t understand that they have rights and the forms are not “take it or leave it”.
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I’m just a shill.
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I can understand all points being made here, but in reality, how many times does this happen in a vehicle lease/purchase? I don’t have the answer but I would guess about 99.5% of the time this does not happen.
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Every auto loan or lease I have done when purchasing (or leasing) a car has a portion in there about the agreement being contingent on assignment with the finance company. In the case of a lease it can only be placed on those terms with a certain institution. If it is not accepted by the institution then the agreement is subject to recision.
I think he is bff with delta. Both will continue to discuss their one win from years ago over and over.
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@Boraxo you don’t even know if it’s a dealer mistake, the OP hasn’t provided any specifics and the letter only indicates the contract cannot be assigned. For all anyone knows the dealer did a spot delivery, later discovered the OP lacked creditworthiness, and has been trying to find a taker for the transaction. Until OP updates everyone on the situation we’re all just speculating.
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Don’t try and argue with him.,you’ll be a dealer shill like me!
On second thought…I could use the company
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I don’t know about all dealers, but this dealer is not in the business acting like a bank and financing cars. They sell the car and assign the lease. Very similar to how a lot of mortgage bankers finance houses, but within a month or two sell the mortgage to a much bigger bank or FNMM. I used to be in the mortgage capital market biz, so I am very familiar with this.
Not an attorney but I’ve done plenty of litigating support, so I am familiar and agree with you.
Separately, my understanding is dealers have a 10-day window to rescind a transaction. If they don’t do so within 10 days, then the customer has the right to keep it. That was my situation, I received the notice to rescind about a month after we got the car. It was a bit hostile from both sides initially because I thought they were trying to play some dirty tricks on me. Again, ultimately it was an honest mistake (HFS gave them the wrong form), and my new contract has the exact same payments and terms, they only changed the residual slightly (less than a dollar if I recall correctly), and since Honda doesn’t sell electric Clarity it doesn’t even matter.
If OP really wants to keep the car, either resign the contract, or make sure there’s record of you sending the payments to the dealer.
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One possibility that I have seen not mentioned here is you might have great but light credit. For example, you have a few credit cards that you pay on time and in full, but you have never had a mortgage or car loan. I have seen this a few times with younger customers who had 750+ scores but get declined to due a lack of history.
I would call the finance manager and if he does not pick up call/email your sales person (F&I managers are always “busy”) and CC the GM/GSM/FI manager (the more eyes on the situation the better). It could be a simple mistake where they missed a signature so the bank can’t accept the contract. If it comes down to turning in your car, ask them under what scenario you would be approved from the bank. That way you at least have an idea when you have to look for a new car.
I think this thread needs to be closed because the OP is evidently not coming back to update us.
I’d give it a couple more days
To OP @mobajwa Were you able to login to HFS site and setup Auto Payment?
If yes then your contract was funded and this might be a letter sent in error.
I had no loan history (no mortgage,no auto loan, no lease) just credit cards and it took a while for my Clarity lease to get an account number assigned so i could setup auto pay.Dealer said it is because HFS took their sweet time to fund the contract.