We'd have to see the entire contract & know your state to give you an opinion.
The basic law would be: On the one hand, the dealership drafted the contract and if they didn't bother to verify the lien amount, that's their problem. Caveat Emptor! They asked for title to your old car, not title to a car worth $xxx. It is accepted practice in car dealerships that 'trade-in allowance' has little to do with the price the dealer intends to charge for the car or its worth. OTOH, if you both thought a lesser amount was owed, this may be a mutual mistake sufficient to declare that no contract was ever formed. Their only remedy would be recission. They'd have to take the car back and return your old car and every penny you paid them. You could then turn around and buy the exact same car as a USED vehicle for less than you originally contracted to pay! Ain't life grand? You win either way!
Drive to another state this week and rack up too many miles for them to sell the car as 'new', then tell them they can rescind the contract if they want. Watch them about face faster than a Marine drill sergeant.
If they don't reaffirm the sales contract *in writing* when you point out these options to them, you might consider paying a lawyer $100 to give you a written opinion.
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This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.
[This message has been edited by Tracey (edited May 29, 2000).]
