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Dealer Wants Car Back - Wants More Money Lebanon MO

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.

Hough Auto Sales
22399 Route 66
Lebanon, MO

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Blackwell Baldwin Ford Lincoln
(573) 785-6484
801 S Westwood Boulevard
Poplar Bluff, MO
Services
Alignment Repair,Engine Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Royal Chevrolet Buick Pontiac GMC
(816) 380-7325
1901 N State Route 291
Harrisonville, MO
Services
Clutch Repair,Radiator Repair,SUV Repair,Tune up Repair,Auto Dealers

Ozark Ford Lincoln Mercury
(573) 346-5551
268 N State Highway 5
Camdenton, MO
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Van Dealers,Auto Dealers

Bluff City Toyota
(573) 785-5761
801 S Westwood Blvd
Poplar Bluff, MO
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Auto Dealers

Lewis Used Cars
(417) 532-9697
2134 S Jefferson Ave
Lebanon, MO

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Carthage Ford Mercury Auto
(417) 358-4037
2920 S Grand Avenue
Carthage, MO
Services
Truck Auto Body,Auto Dealers

Blue Ridge Mazda
(816) 358-6500
6824 Blue Ridge Boulevard
Raytown, MO
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers

Huberts Ford Sales Company
(417) 993-5511
Highway 65
Urbana, MO
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers

Clark Chrysler Dodge
(573) 346-2293
1358 N Business Route 5
Camdenton, MO
Services
AC and Heating Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Van Dealers,Auto Dealers

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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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