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Dealer Wants Car Back - Wants More Money Albany GA

When you sign a contract to buy with a loan, or to lease, the dealer attempts to find a finance company or bank that will approve you under the terms you agreed to in your contract. Somewhere in your contract or in a separate document, often called a bailment agreement, this condition is spelled.

Finnicum Motor Co
(229) 446-9960
1372 Us Highway 19 S
Leesburg, GA

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Lou Sobh Ford Inc
(404) 633-4005
1665 Scott Blvd.
Decatur, GA
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Van Dealers,Auto Dealers

Peach County Ford
(478) 956-4007
230 Highway 49 N. ( I-75 Exit, # 149)
Byron, GA
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers

Martin Motors Parts and Service
(229) 686-2068
709 S Davis Street
Nashville, GA
Services
Clutch Repair,SUV Repair,Used Car Dealers,Auto Dealers

Southland Chrysler Jeep Eagle
(229) 273-3473
1096 Highway 280 West
Cordele, GA
Services
Radiator Repair,Tune up Repair,Auto Dealers

Cook County Ford
(229) 896-7411
1000 S Hutchinson Avenue
Adel, GA
Services
Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Way Brothers
(478) 892-9141
530 Broad Street
Hawkinsville, GA
Services
SUV Repair,Truck Service Station,Auto Dealers

Stone Mountain Auto
(770) 972-7767
5054 Stone Mountain Hwy
Stone Mountain, GA
Services
Auto Parts,Van Dealers,Used Car Dealers,Auto Dealers

Nissan South Morrow
(770) 968-1360
6889 Jonesboro Road
Morrow, GA
Services
SUV Repair,Van Dealers,Auto Dealers

New Horizons Outdoors
(770) 949-9644
4429 Bankhead Highway
Douglasville, GA
Services
RV and Camper Repair,Trailer Repair,Truck Parts,Auto Dealers,RV and Camper Dealers

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Dealer Wants Car Back - Wants More Money

It happens every day. You buy or lease a car from a dealer. He calls you a few days or a couple of weeks later and wants his car back, or asks you to sign a new contract with higher payments. Is this a scam? Is it legal?

First, let's understand some fundamentals of car financing. Car dealers don't finance or lease cars. When you sign a contract to buy with a loan, or to lease, the dealer attempts to find a finance company or bank that will approve you under the terms you agreed to in your contract. Somewhere in your contract or in a separate document, often called a bailment agreement, this condition is spelled out.

Essentially, it says that you agree to let the dealer arrange your car financing on your behalf, and that, if he can't find a finance company or bank to approve you and accept your loan or lease, then the deal isn't final. In this case, you will either be asked to return your car, get a co-signer, or sign a new contract for new terms that are acceptable to a finance company the dealer has contacted. Most likely, the option to return your vehicle won't be mentioned because the dealer does not want to lose this deal.

This is perfectly logical since the dealer wants to paid for his car and if a finance company can't be found who will accept the deal and pay him, the car still belongs to the dealer.

We often get emails from consumers who are in this situation and they frequently ask if they can simply keep the car and refuse to sign a n...

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