Purchased a car now dealer wants car back 2 weeks later.

[Cheryl in Cali]

My husband purchased a car two weeks ago and now they want it back. They told us we were approved at the interest rate of 8.5% thru our bank on the day they sold us the car. Then I called one week after we bought the car to find out why we had not received the paperwork from the bank. The guy on the phone said the finance manager left on vacation the day after we purchased the car and never even ran our application. I flipped and he said he would double check to make sure that was right and he never called back. Today two weeks since we bought the car they called this afternoon and told us we need to come down and renegotiate our contract, because they didn't get us approved for the 8.5% that it states on our contract and we either take a higher interest rate or bring the car back. It states on the back of their own contract though they only have 10 days to give us notice if they cannot find a lender to approve at the rate they promised us. They did not call us till today and it has been two weeks! Also they told us we were approved thru our bank at that % rate, but now they say we are not and never were. We sat at that dealer for 3 hours while they supposedly negotiated with banks, but they say that now that they never ran our application till this week. What the heck do we do? They are threatening to come take it from our driveway!

 

[Elliotg]

This just does not make sense. Either you are dealing with the world's most incompetent bank/finance company and/or dealership, or you are omitting some very pertinent information.

You should schedule a formal consultation with a lawyer. A good means of obtaining an attorney referral is by contacting your State's bar association or your local county bar association. They probably have a web site and charge a nominal fee for the referral. Most attorneys either provide a free initial consultation, or charge a nominal fee.

Good Luck, Elliot Jay Goldstein (Attorney with offices in Tampa and St. Petersburg)

The above information is provided as a courtesy, without any consideration and without knowledge of the specific facts. Do not rely on this information. Seek a formal consultation with an attorney.

 

[Cheryl in Cali]

The finance manager called me today and admitted to them being completly basic idots. He said that he never told the sales supervisor we approved, but that is what he told us. Also he said when he went on vacation the person that was left in charge never ran our application, so when he came back from vacation our contract was past the the 10 days they have to renig on the deal. Now he says they are going to find a bank and offer to offset the %rate with their own money, because if they don't get us a deal and they take the car back we would be able to sue them. So they say I don't trust anything anymore that they tell me. I've never heard of this being done. Can they? This is a Nissan dealer in Fairfield California. Thank you!

 

[Elliotg]

If the dealer does what he says, then what's your loss? I would think none. Make sure he puts it in writing. If he refuses, see a local attorney.

Good luck,