I believe I was recently involved in potential fraud specifically auto dealer fraud and looking for legal assistance.

[Azm86]

The agreement was that "as long as I payoff the car loan within the first few months of the financed loan, the payoff price would be $7000" but if the loan wasn't paid within that time period the loan would be $11,500 (as it is right now). I signed the agreement after being told this. I recently contacted the financial company and stated the above and they told me that "what was told by the dealership isn't true" that the loan payoff is $11,500. I recently called the dealership (after discussing the above with the financial company) and recorded the whole conversation. Within the conversation they stated everything that was originally discussed which confirmed their deceptive lie. Can I sue them for deceiving me into signing the contract ? or take them to court for unfair lending since I'm now responsible to payoff $11,500 instead of $7000, as originally agreed ?

 

[Shadowbunny]

The agreement was that "as long as I payoff the car loan within the first few months of the financed loan, the payoff price would be $7000" but if the loan wasn't paid within that time period the loan would be $11,500 (as it is right now). I signed the agreement after being told this. I recently contacted the financial company and stated the above and they told me that "what was told by the dealership isn't true" that the loan payoff is $11,500. I recently called the dealership (after discussing the above with the financial company) and recorded the whole conversation. Within the conversation they stated everything that was originally discussed which confirmed their deceptive lie. Can I sue them for deceiving me into signing the contract ? or take them to court for unfair lending since I'm now responsible to payoff $11,500 instead of $7000, as originally agreed ?

What US State are you in?

 

[adjusterjack]

The agreement was that "as long as I payoff the car loan within the first few months of the financed loan, the payoff price would be $7000" but if the loan wasn't paid within that time period the loan would be $11,500 (as it is right now). I signed the agreement after being told this.

"I was told" = the most dangerous phrase in the English.

Did it say that in the contract you signed? Of course not.

I recently called the dealership (after discussing the above with the financial company) and recorded the whole conversation.

That may be illegal in your state. If it is, the recording is useless to you.

Within the conversation they stated everything that was originally discussed which confirmed their deceptive lie.

Really? Did somebody say "Yeah, we lied to you" or are you just wishfully interpreting the contents of the conversation?

Can I sue them

I think you mean can you win. Doubtful. The contract was there in front of you before you signed it. You should have read it thoroughly and understood it before signing it.

 

[PayrollHRGuy]

What did the finance contract say about payoffs?

 

[Azm86]

What US State are you in?

I'm located in NY and the "one-rule consent" does apply.

 

[Zigner]

In your contract you will find a provision that states that the contract is the entire agreement and that any changes to the contract must be in writing and signed by both parties.

 

[adjusterjack]

I'm located in NY and the "one-rule consent" does apply.

That's "one party consent rule."

What, exactly, was said on the recording that leads you to believe anybody admitted to lying to you. Perhaps give us a quote without naming names.

 

[Just Blue]

I'm located in NY and the "one-rule consent" does apply.

Did you read your contract before signing it?

 

[Azm86]

"I was told" = the most dangerous phrase in the English.

Did it say that in the contract you signed? Of course not.

Well that's another thing. The finance manager used my signature for two agreements. I didn't even see the loan agreement only the installment agreement. He took my signature that I signed for the installment agreement and submitted it with the loan to the bank.

That may be illegal in your state. If it is, the recording is useless to you.
NY


Really? Did somebody say "Yeah, we lied to you" or are you just wishfully interpreting the contents of the conversation?
Yes he pretty much did, more "as long as you payoff the loan within a few months you won't need to pay $11,500".


I think you mean can you win. Doubtful. The contract was there in front of you before you signed it. You should have read it thoroughly and understood it before signing it.

 

[Azm86]

That's "one party consent rule."

What, exactly, was said on the recording that leads you to believe anybody admitted to lying to you. Perhaps give us a quote without naming names.

What the finance manager said before and after the agreement is that "as long as the loan is paid off within the first few months of the contract the payoff for the car will be $7,000 rather then $11,500"

 

[Zigner]

What the finance manager said before and after the agreement is that "as long as the loan is paid off within the first few months of the contract the payoff for the car will be $7,000 rather then $11,500"

What was the total purchase price of the car? What is the length of the contract?

 

[Azm86]

Did you read your contract before signing it?

I didn't see the loan contract because the finance manager used my signature from the loan installment agreement. I never seen the actual price of the car because he never showed it to me. (he hid this from me because it had all the numbers, if I would've seen the numbers then I would've NEVER signed it). He had me sign the installment agreement by flipping the page, I signed it then he used that page for the loan agreement.

 

[quincy]

Generally if you pay a loan off early, the payoff amount is less because you will be paying less interest on the loan.

You should never sign legal documents without reading them fully and understanding what they say.

 

[Zigner]

I didn't see the loan contract because the finance manager used my signature from the loan installment agreement. I never seen the actual price of the car because he never showed it to me. (he hid this from me because it had all the numbers, if I would've seen the numbers then I would've NEVER signed it). He had me sign the installment agreement by flipping the page, I signed it then he used that page for the loan agreement.

You aren't making sense. A "loan installment agreement" is the "loan contract". You could (and should) have read (or, at the very least, skimmed) the thing before you signed it. You know how much you agreed to pay for the car. You had to have known the general terms of your loan agreement (ie: $250/month for 5 years, or whatever).

So, how much did you buy the car for?

 

[Azm86]

What was the total purchase price of the car? What is the length of the contract?

The car was $10,000 but agreed to sell it for $9000 with $5000 down that lowered the price to $4000 + Warranty (attached) $1295 + $1600 (taxes, plates, fees ect) = (roughly give or take rounding it up) $7000. The $7000 x.1149 = $804.30 (per year) x 4 years is exactly = $10,217.20
The the monthly payments of $299 for 48 months with 11.49% brought the car to $14,353.92.

I just recently seen the loan agreement cause I requested it from the bank and the finance manager listed the sales price of the car for $13,500 rather than $9000 as we had originally agreed.