I signed a vehicle purchase agreement .....?

Question

and the dealer did as well. They agreed to take my current vehicle and offered an amount for the trade. The amount is stated in the contract. The deal was pending financing, but when I called today they told me they were no longer able to take my current vehicle. Can they do this?? They signed the contract.

By the way, it wasnt that I couldn't get the financing. They just said they were unable to turn over my trade.

Answer 1

If you only signed a buyers order, then that is not the actual contract and either party can back out. There is a big difference in taking delivery and simply having a signed purchase agreement. I will help to clarify.

If you signed all the contracts, including odometer statement, power of attorney on your trade, and the loan was sent to the lender and accepted, then you do not have to take it back.

If you signed a purchase agreement only and not the contracts or any of the above stated papers, then yes, they can back out. Purchase agreements are used to state the figures, however until the car is physically delivered and funded, they can cancel the deal. I hope this helps to clarify.

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Answer 2

Have to read the small print in the contract. There is probably some clause that says something like, "Dealer has the right to void this contract at any time for any reason.."

If you know a lawyer you can ask, you might want to do that. I'm in law school, but it sounds like what you might have is an "offer" for a contract, as opposed to a contract. Like... "If we make a deal, we will take your car and pay this much for the trade....pending a successful sale." So, the financing might not have been their only out.

Just like if you see something advertised for sale in a store... they could conceivably raise the price before you get to the cash register. They've made an OFFER, but there isn't really a contract until there is an acceptance and agreement of the offer. (Usually this is done at the cash register.)

So, if you'd given them a check for the sales price of the car (which would constitute your acceptance of their offer), then they couldn't turn around and say that they're going to give you less than promised on your car.

Answer 3

Read the ENTIRE contract. I'd imagine, you'll find a clause that gives the dealer a right to cancel the contract. If not, legally, you can enforce the contract. Keep in mind though.... "enforcing the contract" when one party does not want to follow through means you have to take legal actions. Having the right and enforcing one are two different matter.

Often, you being an individual, taking a matter like this to court is waste of time and effort. It will cost you an attorney fee, court cost, time, frustration, etc, etc, etc. You can just as easily go to another dealer and try to get a similar deal.

Having a legal contract (if you have one to begin with), having the right, needing to enforce it, and actually coming ahead when everything is considered.... unfortunately.... aren't the same.

I can emphasize with you, but that's the bottom line.

PERSONALLY, I would only consider taking legal actions if they don't want to take the trade, and bind me to rest of the agreement - that is, try to sell me the car without taking the trade. Otherwise, I'd tell them to void the entire contract and just walk away.

Answer 4

sounds like a leazy car dealer old saying there isnt a contract written that cant be broken
i would have to look at the detail writing in the contract to determine if they are bound by the agreement
quite possible they are with in there rights fine print if not i would just for the sake of princible have a lawyer look at contract

Answer 5

Read the fine print and if it doesnt say anyhting about them being able to break the contract then you need to be firm with them, brining up the fact that they signed a binding contract and if it comes down to it you will submit this contract to you lawyer. (bluffing of course) You can say you have pre-paid legal through your work and you will be contacting them with advice on the matter. But make sure you talk to the manager, getting his name, rank, and his boss' name and sound serious. They will fold! Play the red card!

Answer 6

It sounds like breech of contract, but i dont have all the paper work in front of me to read. The best thing for you to do is seek legal advice, sometimes offered for free, to find out if they indeed have done something wrong.

Always keep contracts too. Sometimes people can be crooked and change their contract with your signature. As long as you have yours, you are always "safe" from fraud.

Answer 7

Was there something seriously wrong with your trade-in? Was there more left owing on it than it was worth?
I think there is a clause or stipulation somewhere about trade-ins and their right to refuse one. Read the contract you signed -- every word -- including anything printed on the back.

Answer 8

that doesn't sound right.

Take it to your bank and ask the financing department to look at it. They may be able to advise. And they may be able to get you a better rate on the financing, too. Car dealerships are not all that kind to the purchaser.

When you get an answer, plz post it here. I'm curious to know!

Answer 9

no and make a cope until eventually now you pass back and save the unique risk-free boy did you success out that's the only element which could make a difference grow to be there even a freelance of any style? and did you sign that? in spite of everything you will possibly desire to have the unique records and if unsigned by capability of the broker the salesperson might desire to have been green or stoned after lunch. It seems stable for you and undesirable for them i think basically tell them you dont want the automobile they have a recognition for what you basically wrote its called consumers be apologetic approximately and is amazingly hassle-free.

Answer 10

Read the contract forward and backward. Call handel on the law if it is on in your market.
If there is no loophole I think they are stuck!