What is spot delivery or yo-yo financing?

Spot delivery is when a dealer lets you drive the car home before your financing is finalized. Yo-yo financing describes a situation where the dealer later says the financing fell through and asks you to return and sign a new contract, sometimes with worse terms. Rules vary by state. To protect yourself, ask whether financing is final before leaving, get pre-approved in advance, and keep copies of everything you sign. The FTC and CFPB have guidance on this.