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Dealer called and asked for resigning car sell contract

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chihiromay

Junior Member
What is the name of your state (only U.S. law)? Maryland

I went to Virgina and bought a new car back 4 days ago, this is my first time to buy a new car. At there, I was naive and signed the contract and loan with an 60-month, APR of 5.8%.


Yesterday, the dealer called and insisted that we must go back to resign a new contract because he claimed "You are not qualify for college graudate rebate & rate, our headquater had called your school, and they replied that you are not qualify, so we have to recalculate everything..." I told him I'm busy and will be out-of-state in the next 2 weeks, then he said "How about I send you the new contract via FedEX and you sign it? You must done this by the end of this week." I said nothing else but told him I couldn't talk to him because I'm working.

After home, I'd read through all the contract and document and I think I found nothing regarding "financing subject to change".

I was confused because as my knowledge, when both parties negociated, made the deal on-site and then signed the contract & agreement. that means they had verified all information with no problem so we both signed on the document. (I even wrote down the school's name, the year I graduate while in negociation, so I assumed they were not blind and willing to give me the deal)

For this kind of situation, what should I react? Is this a scam (?) As a person paid all her pay check on time in the past 8 years, has a stable and well paid job and has a credit score of 770, I think the rate was too high. But I failed to discovered right before I signed, that's me who didn't do the homework and that's my fault.

However, for now it seems they're trying to transfer their "Sell's remorse" and the cost of flaw (in contract) to me. Personally I think I may refused to re-sign a new contract because I believe upon singing the contract then, we agree all the conditions and follow for them. Plus I felt the dealer was kinda forced me to agree their change and re-sign the contract.

What should I do???


Still I am begging for your advices and hoping you could help me.


Thank you so much.What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?
 


jsmith416

Member
DO you qualify for the college grad discount? Any issues with your college like unpaid tuition that might delay your diploma?
 

Antigone*

Senior Member
What is the name of your state (only U.S. law)? Maryland

I went to Virgina and bought a new car back 4 days ago, this is my first time to buy a new car. At there, I was naive and signed the contract and loan with an 60-month, APR of 5.8%.


Yesterday, the dealer called and insisted that we must go back to resign a new contract because he claimed "You are not qualify for college graudate rebate & rate, our headquater had called your school, and they replied that you are not qualify, so we have to recalculate everything..." I told him I'm busy and will be out-of-state in the next 2 weeks, then he said "How about I send you the new contract via FedEX and you sign it? You must done this by the end of this week." I said nothing else but told him I couldn't talk to him because I'm working.

After home, I'd read through all the contract and document and I think I found nothing regarding "financing subject to change".

I was confused because as my knowledge, when both parties negociated, made the deal on-site and then signed the contract & agreement. that means they had verified all information with no problem so we both signed on the document. (I even wrote down the school's name, the year I graduate while in negociation, so I assumed they were not blind and willing to give me the deal)

For this kind of situation, what should I react? Is this a scam (?) As a person paid all her pay check on time in the past 8 years, has a stable and well paid job and has a credit score of 770, I think the rate was too high. But I failed to discovered right before I signed, that's me who didn't do the homework and that's my fault.

However, for now it seems they're trying to transfer their "Sell's remorse" and the cost of flaw (in contract) to me. Personally I think I may refused to re-sign a new contract because I believe upon singing the contract then, we agree all the conditions and follow for them. Plus I felt the dealer was kinda forced me to agree their change and re-sign the contract.

What should I do???


Still I am begging for your advices and hoping you could help me.


Thank you so much.What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?
This is not a scam. You have three choices. Take the car back, sign the new contract, or obtain your own financing.
 

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