i bought a car from what i callaside lot//where payments aremade@ same location//i have 4 payments that includes partof down payment//i am a week late and may payment has been refused because of no grace period policy.the lot is asking for car back/
2007-06-02 06:12:50 · 3 answers · asked by wanda h 1 in Cars & Transportation ➔ Buying & Selling
Most contracts will include a no grace period clause, you are contractually obligated to make payments by a certain date. You have defaulted, the dealer has every right to get the car back. Sorry.
2007-06-02 07:24:18 · answer #1 · answered by jay 7 · 0⤊ 0⤋
Read the contract you signed; it should have "Full Disclosure" clause in it somewhere that states no late payments will be accepted. You missed the payment - the car is being repo'ed. Case closed.
2007-06-02 13:25:19 · answer #2 · answered by Kiffin # 1 6 · 0⤊ 0⤋
Yah you are out of luck on this one. If the contract you signed indicates that in the event of late payments, the contract is void, you are done.
2007-06-02 13:53:42 · answer #3 · answered by Jay P 7 · 0⤊ 0⤋