What is the name of your state (only U.S. law)? Texas
What happens if I don't sign the Odometer Disclosure Statement? Does the sale not complete? I have already signed the lease.
In case you ask why I wouldn't sign the odometer statement:
I went to trade in a vehicle that a large amount of negative equity and wanted to lease a vehicle to erase the negative equity in a short amount of time. We came to an agreement, I signed the paperwork, left the trade-in, and went home. This was 6/12/07. A whole month later, on 7/15/07, they call me and tell me I need to sign some paperwork as there was a problem. I get to the dealership and they say I wasn't approved for the lease, and the payoff amount wasn't correct. It was off by 809 dollars. So, I simply state I wanted my vehicle back. They say that it's not possible, because they sold my vehicle. I asked how they sold my vehicle when my bank still has my title? They said they paid off that difference they just stated (809 dollars). So, I asked why would they tell me I owed 809 if they just paid it. They said it didn't matter that they paid it, I still owed it because it was different than the amount they paid out to the original lender. They said, I needed to sign a new lease. I said, I didn't want to sign a new lease and just wanted them to take the vehicle and give me a ride back to my house. I was with my newborn and wife at the time. They said, I own the vehicle I just leased and if I left the lot, I would still receive a payment book because they were just going to pay down the cap to make the numbers work, and charge me both the 809 and the 2500 pay down, and say it's the difference between what is owed on the vehicle and what they paid for it. Essentially telling me I would have to 3309, plus the month's payment was due. The lease paperwork doesn't state the value of the trade-in, nor the amount they 'told' me I was given for my vehicle. So, like a complete moron, I signed the new lease that was "the better deal for me." What they did was move the 2500 dollar buy down into the rent charge of the lease.
The Odometer Disclosure Statement seems important, because they have called me three times in the past two days and are going to have someone come by my house this evening so I can sign the paperwork. What does not signing the paperwork do for the whole deal? I'll take a guess and say nothing.
What happens if I don't sign the Odometer Disclosure Statement? Does the sale not complete? I have already signed the lease.
In case you ask why I wouldn't sign the odometer statement:
I went to trade in a vehicle that a large amount of negative equity and wanted to lease a vehicle to erase the negative equity in a short amount of time. We came to an agreement, I signed the paperwork, left the trade-in, and went home. This was 6/12/07. A whole month later, on 7/15/07, they call me and tell me I need to sign some paperwork as there was a problem. I get to the dealership and they say I wasn't approved for the lease, and the payoff amount wasn't correct. It was off by 809 dollars. So, I simply state I wanted my vehicle back. They say that it's not possible, because they sold my vehicle. I asked how they sold my vehicle when my bank still has my title? They said they paid off that difference they just stated (809 dollars). So, I asked why would they tell me I owed 809 if they just paid it. They said it didn't matter that they paid it, I still owed it because it was different than the amount they paid out to the original lender. They said, I needed to sign a new lease. I said, I didn't want to sign a new lease and just wanted them to take the vehicle and give me a ride back to my house. I was with my newborn and wife at the time. They said, I own the vehicle I just leased and if I left the lot, I would still receive a payment book because they were just going to pay down the cap to make the numbers work, and charge me both the 809 and the 2500 pay down, and say it's the difference between what is owed on the vehicle and what they paid for it. Essentially telling me I would have to 3309, plus the month's payment was due. The lease paperwork doesn't state the value of the trade-in, nor the amount they 'told' me I was given for my vehicle. So, like a complete moron, I signed the new lease that was "the better deal for me." What they did was move the 2500 dollar buy down into the rent charge of the lease.
The Odometer Disclosure Statement seems important, because they have called me three times in the past two days and are going to have someone come by my house this evening so I can sign the paperwork. What does not signing the paperwork do for the whole deal? I'll take a guess and say nothing.