What is the name of your state? Arizona
I signed a lease for a new car about 6 weeks ago. After 2 weeks the dealer called me stating there was a mistake on the contract. They stated that the penalty for additional miles over the allotted amount was incorrect, which I compared and found to be legitimate. I signed the second contract. Two weeks later I get another call from the dealer stating there was a problem with the second contract. Knowing that this is getting ridiculous I hold off returning their call to do some research. Apparently having the consumer come back and sign a new contract is a way for the dealer to tack on additional costs. They took my original contract so I am not able to see if there was a discrepancy between the two other than the miles. My fault. In the meantime I get a letter from the bank that the dealer tried to finance through stating I was declined based on insufficient income. So it becomes clear that the reason for the 3rd contract is to submit the loan to a new bank for approval. At this point I'm fed up. The bank doesn't believe I can afford this vehicle, and now I believe they may be correct. After talking to several friends in the auto sales field, I was told because the contract was denied I am under no obligation to keep the car. I do not have to sign the new contract. I was told I should be able to walk in, give the dealer their keys and demand my trade in vehicle back. When I told the finance department I would not sign the new contract and wanted my old car back, the sales manager immediately came down and gave me a brash attitude. He claimed if I don't sign it he will take me to court stating I lied on the contract. Apparently when the original salesman was writing up the paperwork he asked how long I had been employed at my current company. I said, I don't know, 2 1/2 or 3 months. He put down 3 months. So the sales manager is stating that because I "lied" about the amount of time I had been at my job, this had a negative effect on the banks decision. Saying that x amount divided by 3 is much different than x amount divided by 2 months. I'm not a banker, but I don't believe the bank rejected the loan based on this practice. I think this is the dealer trying to cover themselves. I have a feeling determining sufficient income has a much more difficult formula. On top of all this, my trade in vehicle was paid off by the dealer, which I have been told is something they should not have done until I was approved for the new car loan. Needless to say I left the dealer without signing in the leased vehicle after the manager walked out. Any ideas where I stand with this? How do I get my car back and get this experience behind me? Thank you very much for your time.What is the name of your state?
I signed a lease for a new car about 6 weeks ago. After 2 weeks the dealer called me stating there was a mistake on the contract. They stated that the penalty for additional miles over the allotted amount was incorrect, which I compared and found to be legitimate. I signed the second contract. Two weeks later I get another call from the dealer stating there was a problem with the second contract. Knowing that this is getting ridiculous I hold off returning their call to do some research. Apparently having the consumer come back and sign a new contract is a way for the dealer to tack on additional costs. They took my original contract so I am not able to see if there was a discrepancy between the two other than the miles. My fault. In the meantime I get a letter from the bank that the dealer tried to finance through stating I was declined based on insufficient income. So it becomes clear that the reason for the 3rd contract is to submit the loan to a new bank for approval. At this point I'm fed up. The bank doesn't believe I can afford this vehicle, and now I believe they may be correct. After talking to several friends in the auto sales field, I was told because the contract was denied I am under no obligation to keep the car. I do not have to sign the new contract. I was told I should be able to walk in, give the dealer their keys and demand my trade in vehicle back. When I told the finance department I would not sign the new contract and wanted my old car back, the sales manager immediately came down and gave me a brash attitude. He claimed if I don't sign it he will take me to court stating I lied on the contract. Apparently when the original salesman was writing up the paperwork he asked how long I had been employed at my current company. I said, I don't know, 2 1/2 or 3 months. He put down 3 months. So the sales manager is stating that because I "lied" about the amount of time I had been at my job, this had a negative effect on the banks decision. Saying that x amount divided by 3 is much different than x amount divided by 2 months. I'm not a banker, but I don't believe the bank rejected the loan based on this practice. I think this is the dealer trying to cover themselves. I have a feeling determining sufficient income has a much more difficult formula. On top of all this, my trade in vehicle was paid off by the dealer, which I have been told is something they should not have done until I was approved for the new car loan. Needless to say I left the dealer without signing in the leased vehicle after the manager walked out. Any ideas where I stand with this? How do I get my car back and get this experience behind me? Thank you very much for your time.What is the name of your state?