Owe Ga Auto Dealer Down Payment

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seeknowledge11

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I purchased car back in July and traded in a car that was upside down $10k. I was pre approved with my own bank for financing. Dealer gave me possession of the car and said bank could mail check to them. Retail value of the new car was $40k, but dealer sold to me for $29k. This was a great deal as I was upside down $10k in my old car (owed $30k, dealer gave $18,5 on trade). After all was said in done, the bank would only approve me for the $29k. In spite of the value of the car, the bank didn't want the negative equity to carry over in the deal. As a result, I would have to put down $14k to cover the difference. My parents agreed to give me the $14k from an IRA. I explained everything to the dealer, gave them the $29k from the bank, and they said they would give me time to give them the $14k down. After all was said and done, one of my parents was laid off and they needed the money to pay bills and couldn't loan to me anymore. Wow! So, I was able to refinance the car and pull out equity, but the new bank would only give me $5k extra. They will loan up to $50k for this car but said my credit needs to be a little stronger before they'll give me the rest. The dealer is tired of waiting, has fired the salesman who told me they would wait, and have filed a civil suit against me. They said they would dismiss it if they remaining funds, $9k, was paid. I haven't answered the suit yet as I don't know how. I asked dealer if they would take the car back, refund me the
$34k I have given them, sell me something cheaper and add $9k to the price, but they won't. They said this deal needs to be finished first. They have already sold my old car even though this deal wasn't done. What are my rights? If we go to trial, would they rule that the dealer should take the car back, refund the money, and I owe the difference of the payoff of my trade and what they sold it for? Should I answer the suit and keep working to get the extra funds and hopefully obtain them before going to trial? I am a resident of GA and purhcased the car in GA. Thanks.
 
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