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Dealer Wants Car Back - Wants More Money Mechanicsburg PA

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.

McCafferty Ford of Mechanicsburg
(717) 766-4733
6320 Carlisle Pike
Mechanicsburg, PA
Services
Oil Change and Lube,Radiator Repair,Truck Service Station,Tune up Repair,Truck Dealers,Used Car Dealers,Auto Dealers

McCafferty Kia of Mechanicsburg
(717) 918-0384
6302 Carlisle Pike
Mechanicsburg, PA
Services
Alignment Repair,Emissions Testing,Radiator Repair,Truck Auto Body,Tune up Repair,Auto Dealers

Brenner Chrysler Jeep
(717) 766-7686
6039 Carlisle Pike
Mechanicsburg, PA
Services
AC and Heating Repair,Auto Inspection,Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Sutliff Auto group
(717) 234-8888
1301 Paxton St
Harrisburg, PA
Services
Auto Parts,Oil Change and Lube,Auto Repair,Truck Repair,Auto Dealers

Jo's Autos
(717) 802-6459
4717 Trindle Rd
Mechanicsburg , PA
 
Lehman Motors
(717) 691-8400
6281 Carlisle Pike
Mechanicsburg, PA
Services
Clutch Repair,Radiator Repair,SUV Repair,Tune up Repair,Van Dealers,Truck Dealers,Auto Dealers

Cumberland Valley Motors
(717) 697-4089
6714 Carlisle Pike
Mechanicsburg, PA
Services
Auto Body Repair,Auto Repair,Used Car Dealers,Auto Dealers

Brenner Nissan
(717) 697-8400
6271 Carlisle Pike
Mechanicsburg, PA
Services
Radiator Repair,Tune up Repair,Auto Dealers

MillerS Autos
(717) 432-3064
630 U S Rte 15
Dillsburg, PA
Services
AC and Heating Repair,Auto Inspection,Auto Repair,Used Car Dealers,Auto Dealers

Autovations Inc
(717) 766-7799
1304 S Market St # 4
Mechanicsburg, PA

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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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