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Dealer Wants Car Back - Wants More Money Kalispell MT

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.

Kari Hyundai
(406) 755-5274
2030 Us Highway 2 E
Kalispell, MT

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Bekier Auto Sales
(406) 892-4407
5465 US Hwy 2 W
Columbia Falls, MT

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Beacon Tire Center Inc.
(406) 883-6258
49523 US Hwy 93
Polson, MT
 
Eide Motors Inc
(406) 721-2323
3010 S Reserve St
Missoula, MT

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Bar TZ Trailer
(406) 388-7228
5240 Jackrabbit Ln
Belgrade, MT

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piercerv.com
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Pierce RV Supercenter - Kalispell
Kalispell, AL
 
Mayson Auto Sales
(409) 756-1680
2455 Highway 93 S
Kalispel, MT

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Mayson Auto Sales
(409) 756-1680
2455 Highway 93 S
Kalispel, MT

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Rimrock Subaru Kia
(406) 651-5200
324 South 24th Street West
billings, MT
 
Quick E'Z Towing and Rock Repair
(406) 883-1444
63575 Highway 93
Polson, MT
 
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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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