New car

What is the name of your state? Md

Hi I have a friend who just purchsed a new car about a week ago. He found out after having it for a week that financing had not gone through right and he could not afford the car anymore cuz it would send his insurance up. He contacted the dealership and they said they could not take the car back becasue it was already financed. Then he called the bank and found it had not yet been financed. He thinks that the car dealership now has to keep the car becasue they lied. I do not think this is true and I feel he is making a mistake leaving the car there. Some help on this would be appreciated

Do you have a question?

Yes I do have a question is a dealership obligated anytime to takle back a new car for any reason

[DrewfromCA]

You may want to check the state laws, but most sales contracts include a buyers remorse clause, which means that after the car is sold, the buyer cannot "return" it. If there were some mechanical problem with it, that would be different, but it is not the dealerships problem that the buyer didn't know his insurance would go up. This is the buyers problem, and it could get big in a hurry if he doesn't take care of this fast....

[JETX]

Sorry Drew... WRONG again!!

"You may want to check the state laws, but most sales contracts include a buyers remorse clause, which means that after the car is sold, the buyer cannot "return" it."
*** That is simply not correct. Some states do provide, in certain transactions, that the buyer has a 72-hour right to rescind the agreement, but there is no such thing as a 'buyer remorse' clause telling the buyer that he can't rescind. That 'reality' is a simple matter of contract law.

"If there were some mechanical problem with it, that would be different,"
*** No it isn't.

[JETX]

Originally Posted by myining26

Hi there..

I deleted your post... since you were hijacking someone elses thread that is almost THREE years old!!

[Desperate4Advic]

Originally Posted by crazykeith

What is the name of your state? Md

Hi I have a friend who just purchsed a new car about a week ago. He found out after having it for a week that financing had not gone through right and he could not afford the car anymore cuz it would send his insurance up. He contacted the dealership and they said they could not take the car back becasue it was already financed. Then he called the bank and found it had not yet been financed. He thinks that the car dealership now has to keep the car becasue they lied. I do not think this is true and I feel he is making a mistake leaving the car there. Some help on this would be appreciated

Check the contract that you signed with the dealer. Lexus gave me a 5 days or 250 miles to still return the car with a $500 stocking fee...

I wouldn't think you finding out it has yet to be financed as paper work does take a few days to go through defaults to them lying. And did you get financing from the dealer or an outside financing institution?

[moburkes]

Originally Posted by Desperate4Advic

Check the contract that you signed with the dealer. Lexus gave me a 5 days or 250 miles to still return the car with a $500 stocking fee...

I wouldn't think you finding out it has yet to be financed as paper work does take a few days to go through defaults to them lying. And did you get financing from the dealer or an outside financing institution?

Okay. You'll get to disagree with me on this post as well, but the OP started this thread September of 2003. I doubt he's coming back for advice almost 4 years later. But, thanks for trying.

[myining26]

Originally Posted by JETX

I deleted your post... since you were hijacking someone elses thread that is almost THREE years old!!

sorry i didn't know... i thought this one is a category which i can post it.. i'm a newbee.. I'm very sorry.. now i know how it works =) SORRIE AGAIN!!

[JETX]

Originally Posted by Desperate4Advic

Check the contract that you signed with the dealer.

Buy a friggin' calendar, you nitwit!!