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Dealer Wants Car Back - Wants More Money Columbus GA

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.

Columbus Auto Mart
(706) 653-6848
5023 15th Ave
Columbus, GA

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Sundown Motors
(334) 855-3452
1001 Highway 165
Fort Mitchell, AL

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Griner Cadillac Nissan
(229) 242-7325
3715 Inner Perimeter Road
Valdosta, GA
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Bo Lovein Ford Inc
(229) 686-2058
723 S Davis Street
Nashville, GA
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Auto Dealers

Pugmire Isuzu
(770) 952-2261
1865 Cobb Parkway South
Marietta, GA
Services
Auto Body Repair,Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Slaughter's Discount Car Sales
(706) 327-9888
3688 Veterans Pkwy
Columbus, GA

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Peach County Ford
(478) 956-4007
230 Highway 49 N. ( I-75 Exit, # 149)
Byron, GA
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers

Honda Mall of Georgia
(678) 318-3100
3699 Buford Drive
Buford, GA
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers

Cook County Ford
(229) 896-7411
1000 S Hutchinson Avenue
Adel, GA
Services
Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

New Horizons Outdoors
(770) 949-9644
4429 Bankhead Highway
Douglasville, GA
Services
RV and Camper Repair,Trailer Repair,Truck Parts,Auto Dealers,RV and Camper 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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