The only suspicious thing about the deal was the dealer showed I put $2,000 down on the car by giving me more for my trade. Otherwise I would have had negative equity and they claim it wouldn't get approved by a bank with negative equity. This dealer claims that they never unwind a deal once it's done. On top of that they claim they already have a buyer for my vehicle but they would be willing to sell back to me if I wanted it. I checked with my credit union were I financed my trade-in and they said they have not received a request for title. I'm wondering how a car dealer can sell a car they don't have a title on. The other important thing is my wife's name is on the trade-in car title, but she was not with me when I purchased the new vehicle. Doesn't she have to give approval to release the title to the dealer? If they need her to release the title out of her name she will not do it.
2007-01-09 18:24:43 · 4 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
First off, there's no 3 day right of recission so the dealer wouldn't unwind the deal even 5 minutes after you left the lot.
Second, your wife had to sign the title on the trade only if her name was the only name on the title or if both your names were on it separated by the word "AND". If both names were separated by the word "OR" then she would not need to sign the title -- either of you could have signed the title. If you fraudulently traded a vehicle that you don't have legal title to, expect to hear from the dealer's attorneys soon. Either your wife will have to sign over the title (her choice, not yours) or you will have to come up with the trade-in allowance in cash immediately. You can also be prosecuted for fraud even if you make things right.
Third, it can take a few days for the dealer to process the payoff and get the title released. The fact that this hasn't happened in 4 days would not be all that unusual.
Fourth, you can trade a vehicle at any time and any dealer would gleefully do that; it's more profit for them. Obviously you wanted to unwind the deal or at least that's what the dealer thought. They're not going to do that.
2007-01-09 23:33:14 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Sounds like to me that you have committed fraud..You used a vehicle for a DOWN PAYMENT,and it dont belong to you! I dont know what state you are in but in NC that is fraud..Also, you can not cancel a contract after 3 days..You may consider yourself lucky if they dont push the subject..Could possibly turn into a big problem with the credit union also...
As fir the suspicious part,the dealer was trying to help you get out of a vehicle that you was burried in..Thats not suspicious,its done every day!
2007-01-09 18:35:21 · answer #2 · answered by Harley-HST 4 · 1⤊ 0⤋
You're stuck with the car. Cars are not TVs you can return anytime you want.... once you sign that dotted line, it belongs to you, whether you like it or not.
Next time, discuss the purchase with your wife or think it through before making such an impulse (& permanent) purchase.
Oh, and I would just leave it alone.... because the dealer can have you arrested and prosecuted for fraud and forgery. Expensive lesson for future reference.
2007-01-10 00:11:16 · answer #3 · answered by Anonymous · 1⤊ 0⤋
did you buy a Suzuki?
2007-01-09 18:41:40 · answer #4 · answered by Anonymous · 0⤊ 0⤋