Second Contracts

[Stuwey]

I reside in Austin, Texas

This is going to sound a little lame but bear with me.

Okay, so I have been thinking of getting a new car. I previously had a, well... car that's falling apart.

At the behest of my mother, I was coaxed into visiting a dealership after helping my brother move and getting three hours of sleep.

The offer on the table looked good at the time. It was a 17000 dollar car marked to 12880 and I put 3000 down. The payments came out to be about 280 for 72 months... Yeah, math should have been done in my hear there, but I didn't and the lower payment on a 09 looked good, at the time.

The Contract was not laid out there, but is supposed to be "negotiated" tomorrow. I would really not like to pay 210% of the remainder of the car in this case, and since the contract was not signed there, is there a method available to renegotiate the deal or cancel it outright?

- Leaps before He Thinks
- Josh

 

[JETX]

I put 3000 down.

is there a method available to renegotiate the deal or cancel it outright?

Those two statements are not consistent. You would (should?) have signed a contract BEFORE you paid anything.

So, with that confusion.... the answer depends entirely on what documents you actually did sign, if any.
I suggest you talk with the dealership about whatever you signed and what obligations you might have.

 

[Stuwey]

They are not so much contradictory as simply a bad decision on my end. I was there at the request of another as stated. There were a variety of things, and the process was hazy at this point (a sure indicator that I was in the wrong place at the wrong time).

The thing I "signed" was a Hand-written offer of the monthly rate for the 72 months. It was in blue marker on a half-folded and not fully fleshed out in regards to all details. He represented the offer as the lobby-rate that my credit union would have for interest and that was comforting as I have been with the credit union, but seeing as I would be paying double what was owed after the down payment, it was suspect upon later inspection.

Also, I did not leave with a formal contract nor full disclosure and I have not signed, not have in my possession such a contract.

It is becoming a lesson learned through inexperience, and while I regret the decision, I have no idea if this type of "deal" is typical for first time buyers. IF there is something that can be done, I would rather not have to have learned the hard way, but information is my strongest possible defense here.

The decision was made haphazardly at the time. Also, this has all happened within the last 2 days if that is a factor.