Auto Leasing Guide
Go to LeaseGuide.com now !

Dealer Wants Car Back - Wants More Money Dalton 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.

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

Dixon's Used Cars
(706) 629-4721
1345 Us 41 N
Calhoun, GA

Data Provided by:
Valley Auto Sales
(706) 638-5898
1697 N Main St
La Fayette, GA

Data Provided by:
Southland Chrysler Jeep Eagle
(229) 273-3473
1096 Highway 280 West
Cordele, GA
Services
Radiator Repair,Tune up Repair,Auto Dealers

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

Kenneth Hand Auto
(706) 629-3584
822 S Wall St
Calhoun, GA

Data Provided by:
Painted Post Trading Co
(706) 624-9951
1336 Us 41 N
Calhoun, GA

Data Provided by:
Hurt Motor Company
(229) 273-4385
205 S 7th Street
Cordele, GA
Services
Radiator 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

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

Data Provided by:

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...

Click here to read the rest of this article from Lease Guide