seanrot

iTrader: (2)

I know its not first gen related but I need some advise. We have a tendency to have a more mature crowd then the lounge. I just purchased a 2006 ford explorer at a finance rate of 2.9% the dealer called me yesterday and said they made a mistake and that they should have done it at 3.9%, they need me to come in and sign a new contract. Also they have already paid off my tradein. So what should I do? Walk in and say if you cant do 2.9% I dont want it. Give them the keys and walk away scottfree from what I was upside down on the trade in and to a new dealer and buy a car?

I will be seeing a attorny tomorrow to see what my options are.

Anex 570

Well this is it, it sounds like that since they had you sign a contract pretty much for financing for the 2.9, they're trying to pursaude you to pay more now, that they found the mistake. You have to consider if you really want that vehicle that much and go from there. An attorny could help you with this too. Good luck.

t_g_farrell

iTrader: (1)

Its their mistake and they should eat it. You have a contract and its already signed end of story. Figure out what the extra interest would be and make them give the difference in cash before you say you'll sign. Bet they stop bothering you. Also, a lot of states have a 3 day clause in which one or both parties can walk away from a signed contract like this, its called a cooling off period. Not sure about Maryland. Maybe the lawyer is your best move, at least for a consult on your rights and approaches.

Hades12

What the last two said.

Blake

Sounds like bait and switch. I bet your Attorney General would love to hear about it.

seanrot

iTrader: (2)

Thanks guys,

Well three days is long gone. I bought the car on the 1st of July. Put 2000 miles on it since. Here is the kicker I carried over 8000 neg equity from the previous car. The dealer has already paid off the loan on that car. So in my dream of dreams right now is that if they cant honor the 2.9%, I pull out my personal stuff, hand them the keys and walk to the next dealership and buy another new car with nothing upside down.

rotary_sex

thats basically a scam. theres no way u will get away with them paying off your 8k in negative equity and giving them their car back and walking.

seanrot

iTrader: (2)

So whos scam is better? Is the real question then. Say 2.9% then say I'm sorry can you come in before 3pm on Thursday and sign a new contract @ 3.9% Im thinking they messed up and the actual creditor will not honor the 2.9% and if I dont accept the 3.9% where does that actual leave them? I know they are not going to give me a free car.

Kentetsu

If you already have a signed contract for 2.9% then I really don't see what the issue is here. They signed it, they're stuck with it. Right? Sounds like an idiot test to me...

Chamele03

I am very interested to know what your attourney had to say......

DriveFast7

iTrader: (1)

well, the contract is signed. the deal is done. i would not re-sign at a higher interest rate. sounds like they're gettin slimy. never heard of this one before.

Look up that dealer here, see what their prior history is:

http://www.betterbusinessbureau.org/

DJAngelicon

I would consult with a lawyer about how to approche this but like everyone else said. If a contract is sign by you and them. The deal is officialy close and that what the paper work say is what gos. You can can not just rip a contract with a customer to up their rate on a new one. I would say, You guys can kiss my A$$ and should have been more professional about it but a deal is a deal and that is final.

lostllama

ok this is what happened. (i sold cars for a long time) the dealer gives you a rate that they think that the bank will give them via credit score and they send you on your way. well the other side is when they send all the papers through to the bank. the bank doesnt always give them what they want i know i have personally called people back in to do this. doesnt make it any better but thats what happened. you see thay pull all there intrest rates from a book form behind there desk tht say what the rate should be but that doesnt realy matter still the bank that pushes it through.
*****warning this information my be tracked by the goverment and if they asked any question know one has ever seen me... <--- ok thats a dumb joke but whatever. just got of graveyard shift.

seanrot

iTrader: (2)

im goint to the legal office in 30 minutes so. Have you ever had anyone hand you back the keys? If so what actions did the dealership take?

seanrot

iTrader: (2)

WOW great day for all you insterested in the out come of this

Lawyer-"if they cant honor this contract , they well have to put you back in your car the same way you walked in the door." BTW they already sold my trade in

The dealer set me up with a purchase price for the vehicle and got me financed at that price then they added extras like gap and ext warrentee. those two items moved me out of a 2.9% to a 3.9% interest rate. Anyways I wouldnt budge on the 2.9% So they started dropping the price of the vehicle to get me to a 2.9% that the bank would say ok to. So I'm very happy with the outcome. Came to about 3000.00 differance and 50.00 lower monthly payment.

inuissus_cendi

Congratulations. Hope the lawyer didn't charge you too much though.

DriveFast7

iTrader: (1)

Way to stick it to the MAN!

seanrot

iTrader: (2)

military legal services cost was = wait 2 hours for 10 minutes of advice

Kentetsu

Good to hear man. A friend that I work with had this happen, and he returned the keys and went shopping elsewhere. I was pretty pissed when I heard about it, but it was too late at that time. Congrats!