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Dealer Wants Car Back - Wants More Money Green Valley AZ

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.

Auto Del Sol
(520) 908-2040
4515 W Valencia Rd
Tucson, AZ

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J & S Wholesale
(520) 295-3831
3359 E Benson Hwy
Tucson, AZ

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Price Car Co
(480) 615-1666
1907 E Main St
Mesa, AZ

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Sanderson Ford
(623) 842-8600
6400 N. 51st Avenue
Glendale, AZ
 
Sol Cars
(520) 300-4815
2343 S Craycroft Rd
Tucson, AZ

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Cristopher Motors
(520) 434-0044
5245 S 12th Ave
Tucson, AZ

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Abe's Car Sales
(520) 398-7337
5160 S 12TH Ave
Tucson, AZ

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Sedona Off-Road Center
(928) 282-5599
211 State Route
Sedona, AZ
 
Salazar Kia - Subaru - Suzuki
(623) 209-5251
10501 W. Papago Freeway
Avondale, AZ
 
Cactus Jacks Auto Sales
(480) 671-7000
2281 W Apache Trl
Apache Junction, AZ

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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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