Auto Contract - Need Advice

What is the name of your state? Utah

I recently purchased a vehicle back in June. My first payment was to be August 1st. I never received anything from the bank to make a payment. As of right now I have missed my Aug, Sept and October payment. I have had several conversations with the dealership and they tell me everything is fine and that my loan was approved. Apparantly not everything is fine with the bank we originally had the loan through. The dealership will not give me a straight answer as to what happened, just that they as a dealership will no longer do business with that particular bank. Now they want me to go in and sign a new contract with a new bank. Is there a way I can get out of the car completely and give it back? They have been such a pain to work with that now I don't even want to do business with them. Please help.

It sounds like the dealership screwed up their end of the financing, or gave you th ecar before you were actually approved. If so, don't be surprised if they came back with a more expensive contract. Since your original contract was surely contingent upon financing (but those thousands of tiny, tiny words in ultrafine print might say otherwise), you shouldn't have to settle for anything worse (higher interest or longer term) than your original contract. If you can't be financed at the rate you were promised it's possible you can return the car and walk away. Most dealerships cover themselves for just this kind of problem, and with the short-term interest rates climbing every other month, they may have a clause that hangs you for whatever they can arrange.

This is why you should always arrange financing before, or at least separately from, the dealership. Tell them you want to see their current financing offer before you do anything else.

car loan blues

Again, I am shocked by dallas advice, which appears to rely on emotion and intuition rather than reality.

If the dealership asks you to come in to resign, you DEFINITLEY have the option of simply returning the car, and getting ALL of your money back (if you put any down). If the new deal looks OK, you can do that to. It's your choice.

Oh, yeah..."emotion"......because car dealers NEVER do things like this.

Where do you think the term "bait and switch" was turned into a household word?

Where do you think the term "high pressure " became known for something other than what came out the end of a hose?

Why do you think car salesmen...especially USED car salesmen...are repeatedly ranked at the top of surveys about unscrupulous business practices?

All just a coincidence, right?

car loan problems

dallas:car dealers never do anything like what? They couldn't get the person financed the way the deal was structured. Deals have to be "in line" for the bank to buy them. Often, when we had someone come in and resign (assuming they wanted to), we would have to lower the price or rate. Sure there are dishonest car salesmen, just like every other business in the country. Your assumptions are like most of your posts: sadly lacking.

Not lacking.

I have had to help bail too many people out of bad contracts and bad cars which were pressed upon them by unscrupulous car salesmen to know the difference. I've seen too much of your handywork, thank you. Every time I go to a dealership for a part (I cannot otherwise obtain) I am amused by the flock of sales-buzzards who try to size up me and others who dare wander through the lot, and then swoop down with such an annoying persistence to corner another potential sale. Thank God there's Sundays and late nights to peruse what I want to see, when I want to see it without all the B.S.

car loans

Dallas: I will apologize for the tone of my statements. It is the assumption that ALL car salespeople are snake oil salesmen that upsets me. Like I said, in every industry you'll find dishonest people. One of my mentors at Gosch toyota in hemet drove home (as does the Toyota corporation with all of its dealerships) the importance of customer satisfaction. You might be able to lie and cheat someone and make a bunch of money on one deal, but that person, and the 20, 30 or more friends he or she talks to afterwards will never patronize the place again. Customers are MUCH more likely to share a BAD experience with friends.

This is a simple financing problem that you are making way too big a deal about. The person who posted didn't say they were being cheated, and indeed if they were (fraud, deceit etc) the contract could be cancelled. If the person wants to, all they have to do is return the car and get their money back, NQA. That means that they got to drive the car for free for as long as they had it. Doesn't sound like too much of a rip-off to me.

Make sense?