What to do if a dealer wants to renegotiate a vehical purchase after the bank has all of the financing paperwork?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What to do if a dealer wants to renegotiate a vehical purchase after the bank has all of the financing paperwork?
We went into a car dealership on Saturday and started the paper work, we received financing and went in on Monday and signed the paperwork. (We drove home with the car). During the process we provided the dealership with information regarding our trade in (car not starting/not running, transmission, dents/dings etc) and they gave us a trade in value sigh unseen. They called back on Tuesday after we signed the papers and walked off the lot with the new vehicle stating that the trade is not worth what they gave us. Can they do this? They are now trying to contact the bank.
Asked on March 22, 2012 under General Practice, Illinois
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If you have a contract with the dealership that took possession of your former vehicle knowing the disclosed problems that you made before the sale and trade in, you have a binding deal with the seller. The presumed written contract that you have written about should state the terms and conditions binding upon you and the seller regarding the transaction.
From what you have written, there is nothing for you to negotiate if you do not want to. You have a done transaction.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.