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Dealer Wants Car Back - Wants More Money Klamath Falls OR

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.

Cascade Auto Group
(541) 883-7701
2810 Washburn Way
Klamath Falls, OR
Services
Alignment Repair,Clutch Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Truck Dealers,Auto Dealers

Horizon Used Cars
(541) 672-6227
1239 SE Pine Street
Roseburg, OR
Services
Truck Service Station,Used Trucks Dealers,Auto Dealers

Gold Chevrolet Cadillac
(541) 265-7731
1422 N Coast Highway
Newport, OR
Services
Clutch Repair,Fuel Injection Repair,Tune up Repair,Auto Dealers

Toyota of Gladstone
(503) 655-7100
19375 McLoughlin Boulevard
Gladstone, OR
Services
Clutch Repair,Emissions Testing,Radiator Repair,Speedometer Repair,SUV Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Miller Ford Nissan
(541) 475-7204
1733 SW Highway 97
Madras, OR
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Northwest Electric Cars LLC
(541) 892-1151
625 Wildland Drive
Klamath Falls, OR
 
Sunwest Motors
(541) 265-8547
1030 N Coast Highway
Newport, OR
Services
Clutch Repair,Fuel Injection Repair,Tune up Repair,Auto Dealers

Butler Acura
(541) 482-1489
1899 Highway 99 North
Ashland, OR
Services
Clutch Repair,Fuel Injection Repair,Tune up Repair,Auto Dealers

Cascade Auto Group
(541) 883-7701
2810 Washburn Way
Klamath Falls, OR
Services
Alignment Repair,Clutch Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Truck Dealers,Auto Dealers

Colvin Auto Center
(800) 768-6906
1925 North Highway 99w
McMinnville, OR
Services
Auto Body Repair,Auto Repair,Retail Tire,Used Car Dealers,Auto Dealers

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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