ok my friend got a car like 3 weeks ago, and she gave down 2000 dollars, her dad co-signed...well this place has been calling her that they had to go through a different bank so they harrassed her to make her dad come in to sign different papers, or they would take the car away...and now they are saying her payment will go up and she needs to take in more money to put down...can they do this, after all the original papers were signed?? please help, she is getting fed up and wants to take the car back....
2007-02-23 05:34:29 · 9 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
more info, her dad has good credit and it is not some little car lot it is a Nissan one well known in our area
2007-02-23 08:33:27 · update #1
It depends on the original paperwork signed.
It sounds like they are playing "hardball". Once they deliver the car, (which they did) unless the original paperwork had stipulations about what happens if the buyer is subsequently rejected for credit, the dealership will have to find somewhere else to fund the loan.
Since the terms (payment, interest rate) are different they would be asking for new loan documents (or at least addendum).
This situation is why you need to read VERY carefully what you are signing. They may have signed something that said if the original credit application is rejected, then the car buyer will have to accept a different loan.
She & her dad should go in, sit down with the finance manager, find out what the deal is. A lot of times throwing out a phrase like:
" I don't want to get an attorney involved, but I will, if I have to"
"Isn't there some way you can make good on the original terms.."
will get you a favorable response.
They don't want the car back after she's been driving it for 3 weeks, so they will try to settle it so everyone is happy.
I hope this is a manufacturer's dealship, not a "used car lot". They are known for their "shenanigans". Look up the business in the local Better Business Bureau, see if they have complaints.
The word "lawsuit" seems to get action, just be prepared to actually sue.
Remember though, you catch more flies with honey than you do with vinegar.
Try to have your friend approach the car dealer in a friendly way, then rachet it up if she's getting nowhere.
2007-02-23 05:53:14 · answer #1 · answered by Sam Fisher 3 · 1⤊ 1⤋
Sounds like she went to a buy her pay here lot. Unfortunately they are famous for stuff like you describe. Your friend and her Dad probably signed a contract, and the bank didn't buy it, and they are trying to find a bank that will. Have them read the contract very carefully. The dealership may just have to honor the contract. Even if it means they will take a loss on the interest rate. Personally, I would go to another dealership and ask about the contract or even go to a bank to see if it is legal and binding. Or if a local lawyer offers a free consultation, I would go to a lawyer. Once they are sure about what they are talking about, then they should go back to the original dealer and present it in a firm way. Don't be rude, but know what you are talking about, and be prepared to follow through. Even if it means returning the car, and going somewhere else to get one.
Good luck
2007-02-23 07:55:45 · answer #2 · answered by just me 6 · 0⤊ 1⤋
I am a finance manager at a dealer. When she signed the paperwork, did she sign a "SPOT DELIVERY FORM"? If so it will say that in the event the lender is unable to finance you at the rate or terms given. You (the buyer) will have to come back and resign the paper work or if the person is not able to get financing she would have to RETURN THE VEHICLE IN THE SAME CONDITION AS YOU RECEIVED IT.
This is not a scam.
The only reason this is taking so long is probably your friend has no or bad credit and her father has bad credit also.
If he has perfect credit, it would not take this long.
Unfortunately this does happen. However, that is way to long to wait 3 weeks.
Normally if this does happen at our dealer we either have it resolved in 1-2 weeks MAX or we take the vehicle back!
2007-02-23 06:25:01 · answer #3 · answered by Anonymous · 0⤊ 0⤋
legally they cant do this' what happens is its the end of the month and the salesman wants to get the car sold on paper so he can collect his comission so he puts you in a car and says its all good' untill the bank rejects the loan request and then they keep trying different banks and those banks want higher amounts to finance the loan' and if your credit is'nt perfect they charge higher finance rates' to make a long story short they get you to sign the contract and after they get paid for the sale they demand you return the car and tell you its because they cant get you financed
been there done that!
c.s.
2007-02-23 05:59:07 · answer #4 · answered by chuckdaddypapalove 1 · 0⤊ 1⤋
Read what you sign. If she signed a paper that states she bought the car and was financed at a certain amount then its a legaly binding contract and cant be change. Read the fine print, call a lawyer if nessicary.
2007-02-23 05:38:15 · answer #5 · answered by john 3 · 1⤊ 1⤋
Every contract stipulates that it is contindent on "lender's approval"...... so she better give the car back or agree to the new terms.
Unscrupulous dealers will sometimes allow someone with bad or no credit to take the car knowing that they won't be approved, so they can jack up the price later on.... this is a common scam known as "Spot delivery."
Yes, it is a SCAM.... http://phoenix.about.com/od/scam1/a/spotdelivery.htm
2007-02-23 06:04:46 · answer #6 · answered by Anonymous · 0⤊ 1⤋
Make sure that the interest rates and payments are set in stone by the contract that was signed. If it wasn't, then they can do that to ya.
2007-02-23 06:51:45 · answer #7 · answered by Chris W 3 · 0⤊ 1⤋
i would sell the car for what it's worth or just take it back to the dealer and tell them you don't want it
good luck
hope this helps
have a good weekend and be safe
2007-02-23 05:38:29 · answer #8 · answered by davedebo198305 4 · 0⤊ 1⤋
Tell her to call a lawyer. ONce you sign the papers it's legally binding.
2007-02-23 05:41:39 · answer #9 · answered by Louis G 6 · 0⤊ 2⤋