The typical yo-yo scheme works like this: you negotiate a deal, sign a retail installment sales contract, and drive the car home. The dealer has told you — or strongly implied — that your financing is approved. Then, anywhere from two days to two weeks later, the dealer calls and says the lender rejected the deal. They demand you either return the vehicle or sign a new contract with a higher interest rate, a larger down payment, or both.

Florida law does not prohibit spot delivery — delivering a vehicle before financing is finalized — but it does prohibit using that practice deceptively. Under the Florida Deceptive and Unfair Trade Practices Act (FDUTPA), a dealer who misrepresents that financing is approved, or who uses the threat of repossession to coerce you into signing worse terms, engages in an unfair or deceptive trade practice.

The key legal question is what the dealer told you at the time of delivery. If the dealer said 'you're approved' or 'the financing is done,' and that was false, you may have a FDUTPA claim. If the contract itself contained a 'spot delivery' or 'subject to financing' clause in fine print that you were not told about, that clause may itself be a deceptive practice depending on how it was presented.

If you are in a yo-yo situation right now — the dealer is demanding you return the car or sign new paperwork — do not sign anything without consulting an attorney first. You may have the right to keep the vehicle on the original contract terms. Signing new paperwork waives your rights under the original deal.

Victims of yo-yo financing may be entitled to actual damages, rescission of the contract, and attorney's fees under FDUTPA. The attorney's fees provision is particularly important: it means you can often find an attorney to take your case on a contingency basis, with no upfront cost.