Contract Recission - Georgia ??

[skbrowneyes]

Quick question: I signed a contract for a car for my son on last night, he is 17 yrs old - the vehicle is for him but I signed it and will be paying. A few things the in-house financing person did that troubled me with after I thought about it. My credit is not that great so I was prepared to go through a sub prime lender, but he stated they will often charge him a surcharge of $1500-$2000 because its for my son -even though his name is not listed anywhere on the contract. I realize the insurance will be high which is where I am getting dinged at, don't think the dealer was ethical with the tack on fo $2000 dollars onto the price. Lastly, he convinced me to buy a $1200 warranty and that was tacked on as well as a $400 GPS system the $7500 car turned into a $10,500 transaction at 28%.

I'd like to see if I could rescind this since it happened last night, we have not purchased insurance yet on the vehicle....I am just not feeling comfortable with this deal.

Can someone point me to the 3 day recission law in Georgia or in general what consumer protection avenues can I reference.What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?

[JETX]

Originally Posted by skbrowneyes

Can someone point me to the 3 day recission law in Georgia or in general what consumer protection avenues can I reference

Your only option is to talk with the dealer and try to get them to agree to cancel (get it in WRITING!!), or to risk losing any deposit you placed with them.
A car purchase does not qualify for the 72-hour contract rescission protection in Georgia.

From the Georgia 'Office of Consumer Affairs':
What contracts can be canceled within three business days?
A contract may be canceled if:
* It involves the sale, lease or rental of goods or services for personal, family or household use; and
* It is a written agreement between two or more parties, listing all details of the agreement and signed by all parties; and
* The commitment totals $25.00 or more, including interest, mailing charges and any other charges related to the agreement; and
* It was entered into at a place that is not the regular place of business of the merchant, such as your home, a consumer product party, a seminar sales program or a hotel room; some exceptions apply.
[url=http://consumer.georgia.gov/00/article/0,2086,5426814_39039081_39477231,00.html]georgia.gov - Canceling a Contract[/url]

[skbrowneyes]

OK - but what if he "misrepresented the price" in the paperwork and charged me bogus fees that are not what the listing price says ? He told me that sub prime lenders charge him the "dealer" a surcharge because my son is a teen and will be driving the car. That didn't settle right with me, so I researched it a little further with someone that has a radio show that helps cars and he said he has never heard of that before.....

The list price he advertised says one thing the bill of sale says another thing.

[JETX]

Originally Posted by skbrowneyes

OK - but what if he "misrepresented the price" in the paperwork and charged me bogus fees that are not what the listing price says ? He told me that sub prime lenders charge him the "dealer" a surcharge because my son is a teen and will be driving the car. That didn't settle right with me, so I researched it a little further with someone that has a radio show that helps cars and he said he has never heard of that before.....

The list price he advertised says one thing the bill of sale says another thing.

If you 'discovered' that fact AFTER signing the contract.... and the terms are NOT in accordance WITH the contract, then you might have a breach of contract action. Contact a local attorney who can review all the documents... and show you where those items are allowed.