Car Finacing Problems. Legal Guru's Step inside

[gtsiawd96]

I guess this question is more for someone in Car Sales. Hopefully someone can help me out.

Last Sat, I picked up a new car. I went just looking but got sucked into the car salesman lies and etc. I don't have great credit. I told him this right from the get go, what I would be able to put down as a deposit and that my credit was not great. He said no problem ran my credit check said I was approved but needed a good size deposit, more than I just told him. It was a stretch but I can do it. I told him I need to split the deposit into two separate payments over the course of 2 weeks. He said okay. We sign the papers, I give him the deposit checks and leave. After leaving the car is alright the payments are decent but I really think I should have just waited. Getting married in 5 months and want to move into PA, maybe waiting would have been a little better. But the paper work is done, or so I thought.

Two days go by he calls back and says I need to come back in immediately and sign some papers I missed and the payment per month has changed, its gone up. He wouldn't talk about it on the phone and was being short with me. I show up to the dealership, he sits me down tells me that my interest rate has gone up and we need to sign a new contract. I tell him I am not signing a new contract. No way, what the original contract states is all I am willing to go. After going back and forth for 10 minutes he calls the bank and they say okay keep the interest rate the same. But now he has really pissed me off. He says you need to sign another line on the original Finance Contract that you didn't sign the first time. Now I no longer want to give him the sale, he pissed me off, lied to me from the start payment are still higher than I wanted to go to begin with. I really think I should just hold off for a couple months until after I get married and move into PA hopefully to purchase another vehicle. I told him I am going to bring the car back since this contract is not finalized. But I don't know the exact law on this. Does anyone else. I told him I am not signing the contract and that I would go home think about it and come back. He never said signing this contract doesn't matter its still binding.

On the finance contract there are two places to sign one at the bottom and one in middle. I signed the bottom but never the middle. So is this Finance contract still Binding?? Can I return the car with no recourse its been 5 days? I know if i go in asking the dealership there just going to lie to me and tell me yes its binding.

Thanks for the help guys, I know I made some mistakes in this deal too, should have used my head a little more, but it happens. Just trying to find the best way to deal with this.

[CleanNeon98]

New or used car? In theory if you already signed one contract, the deal is done, they can't just try to tell you to re-sign another, and I've never seen banks call back and say "hey listen we need to raise the rate". Sometimes at work we have people come to fill out paperwork that we might have forgotten but never another contract. If you didn't fully sign the original contract, in theory the deal was never finalized (which is their fault for not pointing it out to you) so technically the car isn't even sold and you are on an extended test drive and can return the car anytime. What dealership was it, PM me if you'd like.

[gtsiawd96]

The car is a new car. I didn't know they could just change the contract after I thought it had been finalized if they wanted. But maybe me not signing the contract entirely to begin with was part of a scam. But maybe it backfired on them since I refused the new contract with a higher interest rate and refuse to completely sign this current contract.

[white2000neon]

Yes once the bank gives a rate they honor it for I believe 2 weeks, but once the contract is signed thats your rate it doesn't matter if you pick the car up a month from then. You should not have to sign a new contract the original one is fine. Sometimes like alex said you will forget to sign some papers, but never a new contract since there probally trying to make points on you through interest and trying to make you sign a new contract.

[gtsiawd96]

I just went back to the dealership tonight, explained I wasn't signing the other line of the contract. I gave him the keys to the car, had him do a walk around on the car to check for any damage. He was hesitant to take the car back, but he never refused or said the contract is legit and that they will pursue it. He said that he already mailed out my deposit checks to Headquarters?? IDK. So he can't stop them from depositing them. I called my bank and put a stop payment on the checks.

[Menacing_Gc8]

yeah sounds like they are trying to pull a fast one on you. my parents went thru something like this with another dealership ( now shut down for this reason ) who told them they were approved, had the contract signed and all gave them the keys and went on their way. In all actuality, the bank had NEVER received their information or approved them. When we found out the guy had NEVER sent any paperwork to the bank in the first place and he kept trying to get more money out of them , I had my parents call the bank itself. the bank told them about the paperwork never being received let alone an application was never there. After me threatening to sue them because we had a SIGNED contract, had given the deposit, and we faxed all paperwork INCLUDING the signed contract FROM THEIR BANK over to them, they called back and told them the car was theirs. Basically what happened was the dealership never sent anything thru and was trying to pull whats called a "bait and switch " type of move. We reported them to the state attorney's office and they were finally shut down after they found the company had done that to several other people.

Keep an eye on your credit to make sure this doesn't backfire on you. If you go the route of talking directly with the bank, Tell them what went wrong at the dealership so they wont put a repo on your credit. Or perhaps, just get a lawyer.