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Dealer Wants Car Back - Wants More Money Anacortes WA

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.

Rallye Auto Sales Inc
(360) 757-7770
1010 Old Highway 99 North Rd
Burlington, WA

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Port of Skagit County
(360) 757-0011
PO BOX 348
Burlington, WA
 
Louis Auto Glass III, Inc
(360) 424-9759
1721 E College Way
Mt. Vernon, WA
 
Nice Cars Co
(360) 398-2854
5622 Guide Meridian
Bellingham, WA

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Vollans Automotive Inc
(360) 855-1111
487 Metcalf St
Sedro-Woolley, WA
 
Skagit Transit (SKAT)
(360) 757-880l
600 County Shop Lane
Burlington, WA
 
Karmart Volkswagen
(360) 757-0815
1725 Bouslog Rd
Burlington, WA

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Motor City
(360) 416-4995
17866 State Route 536
Mount Vernon, WA

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North Cascade Ford
(360) 855-1551
116 W Ferry St
Sedro-Woolley, WA
 
North Cascade Quick Lube
(360) 855-0418
205 Township St
Sedro-Woolley, WA
 
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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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