First off, what the dealer did is called a spot delivery.They process the deal as though it will go through. If for some reason the deal doesn't then the dealer has every right to take the car back or keep looking for someone else to finance it. The dealer can charge you like you rented the car for the time you had it. Wear , tear and mileage. If you traded your car in and signed your title over to him, you may have a problem if he either sold it to a private person or wholesaled it to a dealer. Once you sign the title over to a dealer the car is legally their whether or not you get financed or not. In my years as a dealer I've seen dealers tell their customers that we sold the car as soon as you left, most lie, some just want to sell your car to recoup some money. Dealers make more profit off your trade than the actual new car sale. The competition is though our there so dealers don't make as Much as you think on sales of new cars, they make more on used cars and your trade. Sometimes your trade is resold on their lot. Depending on the year and miles on your trade, the dealer either can sell it as a good to great used car or sell it as an AS-IS car, or sell it for scrap or to wholesalers because they want the car more than the trading dealer. Sometimes it comes down to being very simple. Your trade cannot be financed or to old to warranty and not worth the effort. Dealer aren't giving you real money for your trade unless they are outright buying your car. It's all paper money (meaning: moving numbers around). So, what ever he said he gave you in all reality figure he actually gave you 1/3 third in real hard cash.
