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Dealer Wants Car Back - Wants More Money Chipley FL

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.

Harris Kirby Fueling Services Inc.
(513) 616-2830
1714 Lorelei Drive
Polk City, FL

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Honda Specialist
(813) 968-5580
14041 N Florida Avenue, # 3
Tampa, FL
Services
Brake Repair,Tune up Repair,Auto Dealers

Jerry Hamm Chevrolet
(904) 398-3036
3494 Philips Highway
Jacksonville, FL
Services
SUV Repair,Truck Service Station,Auto Dealers

BMW Auto Dealer
(352) 861-0234
3949 SW College Road
Ocala, FL
Services
AC and Heating Repair,Auto Dealers

Rick Case Acura
(954) 587-1111
875 N State Road 7
Plantation, FL
Services
Alignment Repair,Auto Body Repair,Clutch Repair,Fuel Injection Repair,SUV Repair,Used Car Dealers,Auto Dealers

JM Lexus
(954) 972-2200
5350 W Sample Road
Margate, FL
Services
Auto Body Repair,Auto Dealers

Mike Erdman Toyota Scion
(321) 453-1313
1545 E Merritt Island Causeway
Merritt Island, FL
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,Van Dealers,Auto Dealers

Suncoast Truck and RV Center
(727) 868-9545
10715 Us Highway 19
Port Richey, FL
Services
RV and Camper Repair,Auto Dealers

Lakeland Automall Ford Mazda Hyundai Isuzu Sales and Body Shop
(863) 682-1100
1430 W Memorial Boulevard
Lakeland, FL
Services
Alignment Repair,Auto Inspection,Clutch Repair,Emissions Testing,Fuel Injection Repair,Mobile Auto Repair,Paintless Dent Repair,Radiator Repair,SUV Repair,Truck Auto Body,Tune up Repair,Used Car Dealers,Auto Dealers

Tampa Bay Auto Mall
(727) 461-1088
3925 Tampa Rd
Oldsmar, FL
Services
AC and Heating Repair,Service Stations,Used Truck Dealers,Used Car Dealers,Auto 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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