Auto Loans Retail Installment Sale Contract.

[Beastman]

(03/07/2012) I financed a used vehicle through a dealership on 03/02/2012. I signed the sales contract and other paperwork associated with the deal. A day after I took the vehicle home I took a closer look at the contract. I know I should've looked at it closer before I signed, but thats hindsight now. After closer look the dealer added several "add ons" as I call them. IE...Vehicle service contract(extended warranty), Gap insurance, credit life insurance....etc. All optional "add ons" as I call them that increased final cost of the vehicle by several thousands of dollars. I am satisfied with the vehicle, but would like the "add ons" removed. I know I already signed the contract or so it has seamed. I was just going to accept it and take it as a lesson learned on purchasing a vehicle. However I received a call from the sales person today saying that I missed a signature on the contract and that they were willing to drive 100 miles plus to where I live to obtain this signature. I then reviewed the contract and I noticed a missing signature to the optional Credit Life insurance box. The cost of the insurance is added into the final cost of the vehicle. My question is? If I do not want the optional insurance does it void the sales contract as it would change the cost of the final price on the contract? Is this a way out of the "add ons" that they put into the final price? If I don't agree to the final price...can I return the vehicle or renegotiate the contract for a better deal? Thanks for your time....

 

[disagreeable]

There is no grace period on auto sales contracts. As that is not a major component of the contract, likely, it will only invalidate that insurance coverage. You should call the dealership and discuss the issue with the General Manager. They might revise the add ons.

 

[mightymoose]

I believe you can cancel your gap coverage at any time too.

However, yes, lesson learned. Read your contract before signing. Contracts today are not all that tricky... all items are very clearly listed.