E
EVELYN PROUDFOOT
Guest
So California
I bought a 1993 Ford Escort on 1/10/01 with verbal agreement with dealer - $500 down now, $500 down in 30-45 days - rest of $4000 financed - bought "as is" - 90 day parts warranty (dealer would pay 50% on certain parts is there was a major problem within 90 days)- small local dealer.
I paid $500 and I still owe $500 on the down payment. I was approved for financing and made 1 payment a 6 weeks ago. 2 wks ago I stopped payment on 2nd check because the car threw a rod - I don't know if the car is even fixable without new engine and the dealer wants to just fix the rod.
I heard that since I had not completed the initial part of agreement that the finance company really doesn't have a legal agreement even though I paid one payment to them. However, they said if I don't continue to pay them they will screw up my credit with a repo - is that up to them at this point? I have contacted the dealer and asked him to come and get the car but to date he hasn't. He tells me that if I pay him the 2nd $500 that they will try to help me with the car. At one time he said "fix" the rod...
I'm afraid if I pay him this money, I will continue to have problems with the car and him repairing it - What are my responsibilities legally - how can I handle this and just get out without more problems? Or am I in for a major loss? The car broke down 3 months and 2 weeks after the sale date so I am afraid they won't honor the 90 day parts warranty. HELP
I bought a 1993 Ford Escort on 1/10/01 with verbal agreement with dealer - $500 down now, $500 down in 30-45 days - rest of $4000 financed - bought "as is" - 90 day parts warranty (dealer would pay 50% on certain parts is there was a major problem within 90 days)- small local dealer.
I paid $500 and I still owe $500 on the down payment. I was approved for financing and made 1 payment a 6 weeks ago. 2 wks ago I stopped payment on 2nd check because the car threw a rod - I don't know if the car is even fixable without new engine and the dealer wants to just fix the rod.
I heard that since I had not completed the initial part of agreement that the finance company really doesn't have a legal agreement even though I paid one payment to them. However, they said if I don't continue to pay them they will screw up my credit with a repo - is that up to them at this point? I have contacted the dealer and asked him to come and get the car but to date he hasn't. He tells me that if I pay him the 2nd $500 that they will try to help me with the car. At one time he said "fix" the rod...
I'm afraid if I pay him this money, I will continue to have problems with the car and him repairing it - What are my responsibilities legally - how can I handle this and just get out without more problems? Or am I in for a major loss? The car broke down 3 months and 2 weeks after the sale date so I am afraid they won't honor the 90 day parts warranty. HELP