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Dealer Wants Car Back - Wants More Money Kapaa HI

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.

C & S Glass & Screen
(808) 822-2162
4516 Lehua St
Kapaa, HI
 
Auto Value Parts Stores
(808) 821-0620
980 Kipuni Way
Kapaa, HI
 
Clear View Glass
(808) 821-1633
4516 Lehua St
Kapaa, HI
 
Kevin'S Automotive Repair
(808) 822-7507
934 Kipuni Way
Kapaa, HI
 
Jerrys Auto Bodyshop
(808) 246-1882
5473 Kawaihau Rd
Kapaa, HI
 
C & S Towing
(808) 823-1351
3842 Mahuahua Rd
Kapaa, HI
 
Andy'S Auto Parts
(315) 524-8800
4717 Akoa St
Kapaa, HI
 
Allstate Insurance Companies
(808) 822-2886
4-1579 Kuhio Hwy Ste 103
Kapaa, HI
 
Custom Touch Auto Detailing & Chemicals
(808) 822-5727
PO Box 444
Kapaa, HI
 
Ohana Motors
(808) 245-4003
3156 Oihana St
Lihue, HI

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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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