On the 9th I was delighted to lease a basic Chevy Bolt in SoCal for 36/10 with a single 8,000 payment. Today- on the 20th, I got a Fed Ex letter from the dealer headed “Notice of Contract Cancellation” stating that “they were unable to assign the financial contract” and that I needed to return the car immediately. I have three questions I hope the hackrs can answer: What is going on? Is the letter, dated and Fed Ex’d on the 17th, but delivered on the night of the 20th, within the 10 days they have to cancel? And finally, what course of action would you recommend here? I have a great credit rating and am mystified! I’d appreciate your feedback.
Did you try to contact them before posting here?
What did the dealer say when you called them and asked for the reason?
Contact the GM of the dealer is my advice. For one reason or another the contract didn’t fund, it could be a million things.
They range from ink blots on contracts that are scanned to typos to incorrect incentives applied to you name it.
A conversation without heat is recommended. There may be a way to salvage and there may not. But don’t go in hot is my recommendation. Ask what happened.
I haven’t contacted the dealer. I just got the letter 20 min ago and was trying to look up the situation online - that is how I saw there is a 10 day cancel perio- I was trying to decide if I should call the dealer or GM.
Call dealers finance or business manager.
Yes, feeling bitter right now.
Can you post the contract with personal info redacted? It could be a simple error that got the deal rejected.
They didn’t ask him to re-sign but to return the car. If there was some error they wouldn’t ask for the car return. He didn’t get approved for some reason and they can’t fix it, I think.
First post, interesting…#lackofdetail 
I cannot imagine why a dealer will be interested in taking a car back.
They are taking a financial hit. Extra car on their lot, which depriciates w/every day it’s there.
Even more so - you put some millage on it.
If you are confident in your financial standing - you can try to get even better deal out of it, but I agree with people above - go cold-hearted, don’t put blame on anyone, likely some typo.
Return the car. Or keep and get repo’ed! Your choice.
Hmmm. When I picked up my car a couple days after I originally signed due to logistics. I was asked to sign a new lease contract as the gas used the wrong version of the form (2019 vs. 2020).
Do you mind posting the name of the dealer? How many miles do you have on it?
They should have called you to explain the problem.
I will post the contract.
I have posted the lease - what else is relevant?
Total shows $5976. That might be why… Weird that they took $8k unless I’m missing something
I’d have to find my contract but I think they did something wrong here. The numbers at first glance don’t look right for a one pay. The amount you paid is more than what they say the lease should have cost.
You need to add all the fees and taxes which do add up to 8k.