dehorse
v.— «Unfortunately, unscrupulous car dealers are waiting to prey on ambitious consumers. The most insidious way this happens is through a process called “dehorsing” in which a customer loses both their new and used vehicle.…Dehorsing exists because of a gray area in the law that allows a dealer to give you a car based on the assumption of financing (this is referred to as a bailment agreement, though you’ll never see that mentioned in an actual sales document). The consumer trades in his or her car and drives out with a new one. Days or weeks later the dealer demands the car back because they couldn’t secure financing or secured financing that was outrageous. The consumer tries to get the old car but the dealers insists the car has already been sold (often it isn’t).» —“Rules of the Road: How Not to Get Dehorsed When Buying a Car” by Matt Hardigree Jalopnik Nov. 23, 2007. (source: Double-Tongued Dictionary)
Further reading
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