LeeSuhAllen
New Member
I purchased a car from a local dealership in California on April 3, 2012. I signed all the papers and drove off with the car. The finance manager explained to me that a lender for the loan was not secured yet, and I left fully understanding this.
Ten days after purchasing the car, the lender that they found contacted me informing me that they had picked up the loan, and welcoming me to their company.
On April 16th, 13 days after I signed the contract, the car dealership called me telling me that the lender back at at the last minute and they couldn't give me a valid reason why. I called the lender asking what happened, and they could not tell my why either.
Now I am 17 days outside of signing the papers, I still have the car. I have called the dealership at least 3 times a day and they are avoiding my calls and will not tell me what is going on. I looked through all the papers I signed, and the back of Retail Installment Sale Contract (the long form that you signed in several places agreeing to the financed payments) states the following:
Seller's Right to Cancel:
A. Seller agrees to deliver the vehicle to you on the date that this contract is signed by the seller and you. You understand that it may take a few days for the Seller to verify your credit and assign the contract. You agree that if the Seller is unable to assign the contract to any one of the financial institutions with whom the Seller regularly does business under and assignment acceptable to the Seller, Seller may cancel this contract.
B. Seller shall give you written notice (or in any other manner in which actual notice is given to you) within 10 days of the date this contract if Seller elects to cancel. Upon receipt of such notice, you must immediately return the vehicle to Seller in the same condition as when sold, reasonable wear and tear expected. Seller must give back to you all consideration received by the Seller, including any trade in vehicle.
My question is, when the dealership calls me now asking for me to either return the car or to sign another contract what should I do? Would it be smart to contact an attorney prior to know more about my legal rights if they are trying to breach their original contract? If I sign another contract, assuming they are trying to get me approved through another lender, I assume it will void this original contract and give them another 10 days from the date the new one is signed to find a lender.
Any advice?
Ten days after purchasing the car, the lender that they found contacted me informing me that they had picked up the loan, and welcoming me to their company.
On April 16th, 13 days after I signed the contract, the car dealership called me telling me that the lender back at at the last minute and they couldn't give me a valid reason why. I called the lender asking what happened, and they could not tell my why either.
Now I am 17 days outside of signing the papers, I still have the car. I have called the dealership at least 3 times a day and they are avoiding my calls and will not tell me what is going on. I looked through all the papers I signed, and the back of Retail Installment Sale Contract (the long form that you signed in several places agreeing to the financed payments) states the following:
Seller's Right to Cancel:
A. Seller agrees to deliver the vehicle to you on the date that this contract is signed by the seller and you. You understand that it may take a few days for the Seller to verify your credit and assign the contract. You agree that if the Seller is unable to assign the contract to any one of the financial institutions with whom the Seller regularly does business under and assignment acceptable to the Seller, Seller may cancel this contract.
B. Seller shall give you written notice (or in any other manner in which actual notice is given to you) within 10 days of the date this contract if Seller elects to cancel. Upon receipt of such notice, you must immediately return the vehicle to Seller in the same condition as when sold, reasonable wear and tear expected. Seller must give back to you all consideration received by the Seller, including any trade in vehicle.
My question is, when the dealership calls me now asking for me to either return the car or to sign another contract what should I do? Would it be smart to contact an attorney prior to know more about my legal rights if they are trying to breach their original contract? If I sign another contract, assuming they are trying to get me approved through another lender, I assume it will void this original contract and give them another 10 days from the date the new one is signed to find a lender.
Any advice?
