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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.

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

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

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Ford Rent A Car System
(706) 278-1151
925 Shugart Road
Dalton, GA
Services
Electrical Repair,Auto Dealers

Way Brothers
(478) 892-9141
530 Broad Street
Hawkinsville, GA
Services
SUV Repair,Truck Service Station,Auto Dealers

Pugmire Suzuki
(770) 952-1984
1925 Cobb Parkway South
Marietta, GA
Services
SUV Repair,Used Car Dealers,Auto Dealers

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

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Stone Mountain Auto
(770) 972-7767
5054 Stone Mountain Hwy
Stone Mountain, GA
Services
Auto Parts,Van Dealers,Used Car Dealers,Auto Dealers

Nissan South Morrow
(770) 968-1360
6889 Jonesboro Road
Morrow, GA
Services
SUV Repair,Van Dealers,Auto Dealers

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

Lou Sobh Ford Inc
(404) 633-4005
1665 Scott Blvd.
Decatur, GA
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Van 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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