How to Cancel a Down Payment Check on a Purchased Car

When purchasing a car, many car dealerships handle the arrangements for financing a vehicle on behalf of the customer. Often, a car dealership will allow the customer to take the car home before the financing is finalized. Because unexpected complications can occur, the customer may not be ultimately approved for a vehicle loan despite having made a down payment with a personal check. By the time the customer is alerted that she is not approved for vehicle financing, the customer has the option of contacting her financial institution and placing a stop on the check before the funds are debited from her account.

Instructions

1

Contact your financial institution. Provide the customer service representative with all information necessary to identify you as the account holder.

2

Ask the representative whether there is still time to place a stop on the check. Provide the check number. If there is still time, provide the amount of the check, who the check was made payable to and any other information the representative requires to process the stop payment.

3

Pay the fee for stopping the payment. Often, a financial institution will debit this fee directly from the account the check was drafted from.

4

Inform the dealership that you have placed a stop payment on the check. Depending on the laws of the state you did this in, you may be liable to the dealership to pay a fee. If this is the case, pay the fee.