• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Dealership wants to change financing terms?

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

M

MamaD

Guest
We live in Iowa. 2 Weeks ago we bought a 2002 mini van thru financing it for 5 years at 2.9%. The financial officer at the dealership called today to tell us that the financing company is not accepting the terms because the 2.9% was to be offered on the 2001's only and he wants us now to come back in to redo the contract at a rate of 5.9%. Can they do this? Shouldn't the terms have been preapproved before we signed the contract and before we drove the vehicle off the lot? Isn't it the dealerships problem now since they didn't get the preapproval and the contract has been signed by both parties?

This is probably irrelavent but we have actually signed two seperate contracts with them because the origional van we bought had problems so we took it back 2 days later and they allowed us to exchange it for another; therefore, we had to sign a second set of contracts for the new mini van because of all the VIN number stuff. Both contracts stated 2.9% financing.

How should we handle this?

Thank you,
Tracy
 



Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top