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Dealer Wants Car Back - Wants More Money Beeville TX

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.

Mercer Honda
(936) 632-7711
2807 S 1st Street
Lufkin, TX
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers

Gillman Honda of San Antonio
(210) 651-5533
16044 IH 35 North
Schertz, TX
Services
Alignment Repair,Radiator Repair,Tune up Repair,Auto Dealers

Immel Motors
(830) 997-2129
1279 S Us Highway 87
Fredericksburg, TX
Services
Alignment Repair,Auto Glass Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Truck Dealers,Auto Dealers

Neessen Automotive
(361) 592-2668
2007 S Us Highway 77 Bypass
Kingsville, TX
Services
Alignment Repair,Clutch Repair,Fuel Injection Repair,Radiator Repair,Truck Auto Body,Used Truck Dealers,Used Car Dealers,Auto Dealers

Allen Samuels Chevrolet
(254) 230-0748
1625 N Valley Mills Drive
Waco, TX
Services
Alignment Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Toyota Of Laredo
(956) 722-5182
Ih 35 North At Mann Road
Laredo, TX
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers

Monco Motor CO
(936) 598-5654
301 San Augustine Street
Center, TX
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Truck Dealers,Auto Dealers

Frank Brown Window Tinting
(806) 796-7777
5802 Spur 327
Lubbock, TX
Services
Alignment Repair,Clutch Repair,Radiator Repair,Truck Auto Body,Tune up Repair,Auto Dealers

Don Davis Nissan
(817) 588-5000
1401 W State Highway 114
Grapevine, TX
Services
Clutch Repair,Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Ewing Buick Pontiac GMC Of Plano
(972) 526-2650
4464 West Plano Pkwy, 11438 Lbj Freeway
Plano, TX
Services
Auto Repair,Clutch Repair,Truck Dealers,Used Car Dealers,Auto Dealers

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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