We signed a contract for the vehicle, but it was never finalized. I changed my mind about the car and told them I was bringing it back. When I get there, all of a sudden, they tell me I am approved. However, I didn't want the vehicle and gave it back. Now they're telling me its a voluntary repo. Who's right...me or the dealer?
2007-03-07 14:23:26 · 6 answers · asked by meathead030103 1 in Cars & Transportation ➔ Buying & Selling
If they did get you approved and cashed the contract with the bank. Then yes it will count as a voluntary REPO! Because at that point it is out of the dealers hands! Meaning that the bank owns that vehicle not the dealer!
2007-03-08 10:23:43 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I'm not a lawyer (thank god) or a car salesman (thank god), but it sounds like the only thing that hadn't been finalized when you took the car was the financing. The actual SALE was finalized subject to finance company approval, which was ultimately received. Not good news for you.
Now, I believe some states have "buyer's remorse" laws wherein you can simply change your mind within 72 hours of a "big ticket" purchase and for no particular reason other than that you simply thought better of it. You might check to see if Texas has such a law and, if so, whether this particular purchase falls within its parameters.
2007-03-07 22:42:29 · answer #2 · answered by Tom K 7 · 1⤊ 0⤋
How long did you have possession of the car? Were you sent off with the car under the condition that financing had not be finalized yet? Contact the Dealer's Division for vehicles in Texas. Dealers must follow rules, many cheat, or confince an unknowing customer that the deal is solid, when it isn't. Don't get caught up in it, contact the people that can help you.
2007-03-07 22:30:21 · answer #3 · answered by fisherwoman 6 · 0⤊ 1⤋
Yeah I would look into the above answer. I know from state to state it is different. I know in most cases once you sign a contract they also have you sign affidavits letting you know that financing is not set up yet...but if you have signed a contract and taken delivery....in most states you are an owner. But again I think the last guy had the right idea in contacting a lawyer to help if you don't get anywhere with the dealer. Good luck!
2007-03-07 22:38:36 · answer #4 · answered by matchiowa 2 · 0⤊ 1⤋
You have 30 days in the state of Texas to return a vehicle and receive your money back. after 30 days you are stuck with the car and the loan. A dealer tried that trick on me, I just called a lawyer while in the building and asked the same question. They quickly returned my deposit and I was on my way.
2007-03-07 22:32:16 · answer #5 · answered by jtwonn 2 · 0⤊ 1⤋
tell them you want it then sell it to someone.get some onr to take over payments dealer has the upper hand. but don't blame TEXAS.
2007-03-07 22:31:38 · answer #6 · answered by tweed801 5 · 0⤊ 1⤋