Breach of contract

[ytrehguadyelhsa]

Jurisdiction

Washington

My husband and I recently financed a newer car through a used car dealership. We had a vehicle that we owed more on than it was valued at so we traded it in as a means of down payment and added the difference to the new loan. We explained to the sales person and the person who walked us through the terms of our financing and contract signing that the day after the purchase date we would be traveling out of state. One week after purchase I was called by the same lady in the finance department and told that the institution they had originally intended for us denied our loan and that she was going to try 2 other places to see if we would qualify there, but our interest rate would go up by 1%-3% higher than what our contract stated. The contract clearly states that the dealership is not allowed to charge us more in interest than the specified percentage of 6.29%, and that any verbal agreements outside of the contract are not valid unless signed by us and the dealership. Today I was called by a different person from their financing department who made it seem very urgent that I come in by the end of the day today to sign new paperwork. We are still out of state. I informed the person that we are still out of state and it wouldn't be possible for us to that. On top of which we can't afford for our payments to be any higher than the amount originally agreed upon. This seems like breach of contract to me and my husband. And I'm rather frustrated and very stressed out about what our car situation will be when we return home. I really like the car we just got. It has extremely low miles and suits my family's needs exactly how I have been hoping for. I don't want to have to return my new car.
Is this something I should take to a lawyer in my area? If so why? And what field of practice am I looking for?

 

[ytrehguadyelhsa]

Along with that, when we signed paperwork there was no financial institution set up for us. The lady gave us a name of a credit union she was going to go through and that she would give us the information as soon an everything went through. So the terms of our loan, along with trade-in value accepted on our car, length of lease, and interest rate are all in writing on our contract through the dealership with no financial institution attached to it.

 

[mightymoose]

This happens all the time when financing falls through.
Your option is to either return the vehicle and pay a pro rated amount for the time you had it, or accept the new financing arrangement.
In the future you will find it much easier if you secure your financing first and then go purchase the vehicle. That way there are no surprises.
It appears unlikely you will be able to keep the vehicle under the current contract. You will likely find terms in the contract that allow the dealer to reclaim the vehicle if financing is not secured.