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Dealer Wants Car Back - Wants More Money Dodge City KS

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.

New Michael's Motors
(913) 383-9000
10555 Marty St
Shawnee Mission, KS

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B Auto Sales Llp
(913) 334-1115
6253 State Ave
Kansas City, KS

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General Motors Corporation
(913) 573-7000
3201 Fairfax Tfwy
Kansas City, KS
 
Heersche Auto Enterprise
(316) 777-2500
1609 W Douglas Ave
Wichita, KS

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Winstead Auto Sales
(913) 682-5555
2619 S 4TH St
Leavenworth, KS

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Classics Body Shop
(913) 755-6530
610 Kelly Ave
Osawatomie, KS
 
Bright Built Hot Rods
(785) 823-0022
5680 W Old Hwy 40
Salina, KS
Car Makes
1920 ,30, 40, 50, 60,70, 80, 90, 2000and up
Hours
7:30-6:00 M/F
Prices and/or Promotions
call

bestliferx
(913) 999-8114
5007 lamar ave apt 1
mission, KS
 
MoKan Autos
(816) 824-4290
550 Nebraska Avenue
Kansas City, KS
 
Auto Worx
(913) 256-2151
603 Pacific Ave Apt 1
Osawatomie, KS
 
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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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