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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.

Miami County Import Auto Repair
(913) 294-9100
3 N Silver St
Paola, KS
 
General Motors Corporation
(913) 573-7000
3201 Fairfax Tfwy
Kansas City, KS
 
Frog's Auto Sale
(785) 234-3764
623 Sw 6th Ave
Topeka, KS

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Metro Auto
(913) 297-0227
1347 Metropolitan St
Leavenworth, KS

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KC Detailing
(913) 548-1396
9202 Nieman Road
Overland Park, KS
Car Makes
All
Hours
m-saturday 9am to 6pm

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

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Olathe Toyota Parts Center
(800) 516-1455
685 N Rawhide Rd Olathe, KS 66061
Olathe, KS
Car Makes
Toyota
Hours
7am-7pm Mon-Fri, 8am-4pm Sat & 11am-4pm Sun CST ORDER ONLINE 24 HOURS A DAY!

Winfield Motor Co
(316) 554-9600
2621 S Broadway St
Wichita, KS

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Mid American Auto Sales
(913) 837-3727
109 N Metcalf Rd
Louisburg, KS
 
Always Save Auto Sales
(785) 267-7283
3840 Sw Topeka Blvd
Topeka, 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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