Car Purchase Contract

[sbeny123]

Jurisdiction

Florida

We purchased a car, agreeing to finance it through Honda Financial at an APR of 1.9%, and signed the contract. The dealer called us this morning to inform us that the APR promo had expired, and we would need to sign at a higher (2.9) APR. While it is only $10 per month difference, it is a matter of principle. The dealer has not yet delivered the car as they still had to do the tint on the windows. They were supposed to deliver it to our house at noon today, but did not do so. What rights do we have under Florida law to either enforce the original terms of the contract or walk away?

 

[txls]

Just refuse to sign anything new.

 

[army judge]

What rights do we have under Florida law to either enforce the original terms of the contract or walk away?

Let's presume the contract was for 36 months.
Therefore, at $10/month, we're looking at a $400 dispute.

You could simply ask for an additional $400 price discount, a $400 check, $400 in dealer services, or $400 in free gas.

If you believe strongly enough that is about $400, ask yourself is this hill the one on which you wish to die?

 

[mightymoose]

Agreed. If the new terms are not agreeable to you then walk away from it.
If the dealer wants to save the sale a solution will be found.
If the dealer has no say in the interest rate then suggest the sale price be adjusted to offset the difference you will pay for the higher rate.
If the dealer doesn't want to negotiate then part ways and start over.