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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.

Frontier Dodge Chrysler Jeep
(806) 798-4500
5801 Spur 327
Lubbock, TX
Services
Clutch Repair,Radiator Repair,Tune up Repair,Truck Dealers,Used Car Dealers,Auto Dealers

Jim Allee Corporation
(214) 348-7500
12277 Shiloh Road
Dallas, TX
Services
Auto Body Repair,Auto Repair,Clutch Repair,Used Car Dealers,Auto Dealers

Momentum Volkswagen
(800) 491-7317
2405 Richmond Ave
Houston, TX
Services
Auto Parts,Auto Repair,Clutch Repair,Speedometer Repair,SUV Repair,Used Car Dealers,Auto Dealers

Wright Buick Pontiac and GMC
(936) 639-5588
1703 South 1st Street
Lufkin, TX
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Auto Dealers

Paul Young Auto Mall
(956) 523-8888
3701 E Saunders Street
Laredo, TX
Services
Clutch Repair,Truck Auto Body,Used Car Dealers,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

Lowry Chevrolet Cadillac
(903) 784-7446
1915 N Main Street
Paris, TX
Services
AC and Heating Repair,Alignment Repair,Fuel Injection Repair,Radiator Repair,Truck Auto Body,Tune up Repair,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

LA Roche Chevrolet and Cadillac
(979) 836-6666
900 Highway 290 West
Brenham, TX
Services
Alignment Repair,Radiator Repair,Truck Auto Body,Tune up Repair,Auto Dealers

Allen Samuels Autoplex
(866) 512-5916
I-45 Highway 34
Ennis, TX
Services
Truck Auto Body,Van 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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