R
rgooch
Guest
What is the name of your state? california.
I entered into a 3 year lease agreement with ford credit as the holder assigned by the dealer, days later i recieved a phone call stating that ford credit did not approve my credit and to return the vehicle. after recieving notice from ford credit that credit was not approved, i returned to the dealer with the vehicle.
The dealer ask if i wanted to keep the vehicle and offered verbally to carry the financing, the payment would remain the same monthly amount until paid in full, i wrote a check for the first payment directly to the dealer. since then i made 43 monthly payments to the dealer as verbally agreed, for the first 18 months i recieved a monthly statement crediting the monthly payment towards the principal amount as reflected in the balance owed.
after the 48 payment the balance owed was 0, i approched the dealer wanting to finalize the contract, the dealer refered back to th 3 year lease and ask for the vehicle back or option to purchase amount was now due $11,752.00.
question is once ford credit rejected my credit and the agreement i signed was a ford credit lease agreement and payments were to be paid to ford credit and any changes made were to be approved by ford credit according to the agreement, is this agreement still binding when elements of the contract has changed?
the dealer implied there were changes by issuing monthly statements showing a balance due, accepting payments payable to the dealer and carring on past the 3 year lease term before asking to return the vehicle or exercise option to purchase.
please advise
I entered into a 3 year lease agreement with ford credit as the holder assigned by the dealer, days later i recieved a phone call stating that ford credit did not approve my credit and to return the vehicle. after recieving notice from ford credit that credit was not approved, i returned to the dealer with the vehicle.
The dealer ask if i wanted to keep the vehicle and offered verbally to carry the financing, the payment would remain the same monthly amount until paid in full, i wrote a check for the first payment directly to the dealer. since then i made 43 monthly payments to the dealer as verbally agreed, for the first 18 months i recieved a monthly statement crediting the monthly payment towards the principal amount as reflected in the balance owed.
after the 48 payment the balance owed was 0, i approched the dealer wanting to finalize the contract, the dealer refered back to th 3 year lease and ask for the vehicle back or option to purchase amount was now due $11,752.00.
question is once ford credit rejected my credit and the agreement i signed was a ford credit lease agreement and payments were to be paid to ford credit and any changes made were to be approved by ford credit according to the agreement, is this agreement still binding when elements of the contract has changed?
the dealer implied there were changes by issuing monthly statements showing a balance due, accepting payments payable to the dealer and carring on past the 3 year lease term before asking to return the vehicle or exercise option to purchase.
please advise