QUESTION
can an auto dealer sign a deal at one interest rate and then ask you to come back and sign a new contract at a different rate?
Asked on Mar 11th, 2013 on Contracts - Florida
More details to this question:
I signed a contract to purchase an automobile on Saturday, the dealer called me today and told me I need to come back in and sign a new contract at a higher interest rate
1 ANSWER
Consumer Debt Collector Harassment & Abuse Attorney serving Tampa, FL
Partner at
Tischhauser Law Group
2 Awards
Depends on the circumstances and terms of your agreement. Many times the "final deal" isn't "final" until approved in writing and funded by a lender. YOu get the car under whats called a "bailment" provision, which is kind of a conditional loan of the car pending approval. You will need to have lawyer review the contract and sale documents. It could also be part of a "bait and switch" scam, where they take your car on trade in and change terms telling you that your trade in car is sold.
Answered on Mar 19th, 2013 at 10:10 AM
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