Spot delivery (orspot financing) is a term used in the automobile industry that means delivering a vehicle to a buyer prior to financing on the vehicle being completed.[1] Spot delivery is used by dealerships on the weekend or after bank hours to be able to deliver a vehicle when a final approval cannot be received from a bank.[1] This method of delivery is regulated by many states in the U.S., and is sometimes referred to as a "Yo-Yo sale" or "Yo-Yo Financing."[2][3]
During a spot delivery, many consumers believe that the deal is final when in fact it is not.[3] Signed agreements allow the dealership the right to take the car back or renegotiate the agreement if it cannot obtain financing within a specific amount of time.[3]
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