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Dealer Wants Car Back - Wants More Money Bethlehem PA

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.

Faulkner Oldsmobile Inc
(610) 867-4177
298 Stoke Park Road
Bethlehem, PA
Services
Fuel Injection Repair,Radiator Repair,Truck Auto Body,Tune up Repair,Van Dealers,Auto Dealers

Vicari Motors Inc
(908) 996-4161
1117 State Route 12
Frenchtown, NJ
Services
Truck Auto Body,Auto Dealers

Lehigh Valley Foreign Car Parts
(610) 866-8065
533 Fifth Avenue
Bethlehem, PA

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Dick Milham Route 191 Auto
(610) 419-1000
416 W Union Blvd
Bethlehem, PA

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Klassic Kids Inc Auto Sales
(610) 691-3225
1214 Pembroke Rd
Bethlehem, PA

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Nazareth Car and Van Rental
(800) 803-9433
4067 Jandy Blvd
Nazareth, PA
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Van Dealers,Auto Dealers

A.B.E. Auto Salvage, Inc.
(610) 807-9700
4418 William Penn Highway
Bethlehem, PA

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Kresge Foreign Cars
(610) 866-7925
539 Second Avenue
Bethlehem, PA

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Straub Auto Group
(610) 867-3793
1130 West Broad Street
Bethlehem, PA

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Murray Motors Service Center
(610) 838-0428
708 Main St
Hellertown, PA

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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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