I have done everything BUT sign the final contract for this new car, and its actually sitting in my driveway now. They released it to me with a credit card deposit. Another dealership in a next door state is offering me the exact same vehicle for $1200 less than the one I have now. the local dealership is claiming that I can't go back on my verbal agreement, one, because I have the car in my posession, two because they already sold my trade. I called the finance company for the trade and the note has not been paid off. When I confronted the dealership about this, they claimed that they sell cars to wholesale all the time w/o the title because titles can take weeks to receive. My question is, is this legit? Can they really force me to finalize this deal?
2006-08-31 08:31:58 · 12 answers · asked by carolinagrl 4 in Cars & Transportation ➔ Buying & Selling
Not if you haven't signed anything.
However, a common dealership "scam" is to have you sign a pre-financing agreement...some sort of document that may not look official but contains fine print about obligations, etc.
I'd call an attorney or a service like Legal Aid. Was the dealer, by any chance, Bill Heard Chevrolet? They have dealerships all over the southeastern US and they have gobs and gobs of complaints against them (with better business bureau) for doing this trick where they send a buyer home with a car and a "financing agreement" signed....but they haven't actually run the credit check yet. Then they call the buyer and say, "you have to bring the car back, because you didn't qualify for financing". But when the buyer returns...their original trade-in car has already been sold by the dealer.
Like I said above...call a lawyer.
2006-08-31 08:39:37 · answer #1 · answered by KW 2 · 1⤊ 0⤋
I agree with the others, you must have a signed contract for the transaction to be legal.
This is a common trick for SOME dealers and used car sellers, I've actually seen sales people hide a trade in and tell the owner that the car has already been sold.
Ask them who they sold it to, if it was a wholesaler they shouldn't have any problem giving you the info, if they claim it was private buyer, ask for the info as well, if they say they can't then tell them to call the buyer with you present and explain the details.
Verbal agreements are not binding, consider the opposite, if they told you they would add an accessory or something of the nature, but not in writing, and you go back to them to have it added and it's disputed, then their statement would be that it's not binding unless it was in writing.
Jerry Christopher
http://www.usedcarwise.com
2006-08-31 18:35:04 · answer #2 · answered by usedcarwise 4 · 0⤊ 1⤋
The verbal agreement may stick because you have the car now. Check with a lawyer about selling the tradein before paying off the loan. They probably can since the bank is expecting them to pay if out. But I think you need a current title for the insurance company.
I think once you drove the car off the lot and took it home you legally closed the deal. Unless there are problems that fall under the Lemon law, you can't just return it. A car decreases in value when it leaves the lot and by you taking it home it has decreased alot in value. The dealer couldn't sell it at the same price, they would lose alot of money. Speak with your local Customer Protection Agency.
2006-08-31 15:40:21 · answer #3 · answered by Pantherempress 7 · 0⤊ 0⤋
Depends how long you've had the car. I think there's a 72-hour leway. Your best bet is to get the other dealership's offer in writing and tell the dealership that sold you the car you have in your possession to take $1200 off the price in order to make everyone happy and get the deal done. They'll give in. Trust me.
2006-08-31 15:36:00 · answer #4 · answered by Zebra4 5 · 1⤊ 0⤋
They might have another "verbal" agreement to buy your trade. However, they cannot sell it without getting the title first. If the "check is in the mail" to pay your car off it might be a done deal.
2006-08-31 15:37:39 · answer #5 · answered by Gregg H 3 · 1⤊ 0⤋
No they cannot force you to do something you don't want to do,verbal agreement or not! As long as your signature is not on a bill of sale they have no right to get rid of your trade. Just for the principle of it,I would tell them you want your trade back and come get the new 1 out of your driveway before you charge them for the storage!
2006-08-31 15:42:50 · answer #6 · answered by Terri R 6 · 1⤊ 0⤋
No they cannot force you to sign the deal, and they have to give you your trade back or pay you what they said it was worth,. Some states(CA) will not let you register a car from out of state until the odometer has 7500 miles on it, check with your local DMV
2006-08-31 16:54:19 · answer #7 · answered by bayareart1 6 · 0⤊ 1⤋
They are lying to you, Hoping that you won't do your homework and find out the truth.
They CANNOT sell your old car without the title and they cannot get the title without paying off the loan.
If you haven't signed a final contract you ARE NOT obligated in any way to honor any agreements.
2006-08-31 15:38:09 · answer #8 · answered by chubbiguy40 4 · 1⤊ 0⤋
Maybe...If you signed your title over already(which usually happens when you physically give them the old car) you no longer own it. As far as backing out of the deal...what about the deposit-unless it says refundable in the contract they can keep it ,and probably will if you try to screw them over ...that might eat up any price difference
2006-08-31 15:44:09 · answer #9 · answered by baalberith11704 4 · 1⤊ 0⤋
Hi eric b. ford sales consultant here. As long as you have not signed to papers yet and finalized to deal you can tell them. Look i know my trade is sitting in the back and secondly i will back out of this deal if you wont at least match your competitors down the street. its real simple discount me $1200 and we can still do the deal.
2006-08-31 15:38:31 · answer #10 · answered by Eric B 1 · 1⤊ 1⤋