Auto Leasing Guide
Go to LeaseGuide.com now !

Dealer Wants Car Back - Wants More Money Pawtucket RI

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.

Clair Acura
(508) 660-1100
103 Providence Highway
East Walpole, MA
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Truck Dealers,Used Car Dealers,Auto Dealers

Mechanic Street Autobody
(508) 966-2886
179 Mechanic St.
Bellingham, MA
Services
Auto Body Repair,Collision Repair,Fabrication and Restoration,Truck Auto Body,Used Car Dealers,Auto Dealers

South Easton Motor Sales
(508) 238-1077
RR 138
South Easton, MA
Services
Alignment Repair,Auto Body Repair,Auto Inspection,Engine Repair,Fuel Injection Repair,Radiator Repair,Truck Auto Body,Tune up Repair,Used Truck Dealers,Used Car Dealers,Auto Dealers

Hiway Motors Inc
(508) 238-8838
356 Turnpike
South Easton, MA
Services
Alignment Repair,Auto Body Repair,Auto Inspection,Emissions Testing,Fuel Injection Repair,Paintless Dent Repair,Radiator Repair,Truck Auto Body,Tune up Repair,Van Dealers,Used Car Dealers,Auto Dealers

Ralph & Sons
(401) 831-5599
456 W Fountain St
Providence, RI

Data Provided by:
Mechanic Street Motors
(508) 966-2886
179 Mechanic
Bellingham, MA
Services
Auto Inspection,Fabrication and Restoration,Used Car Dealers,Auto Dealers

Fortiers Auto Sales and Service Inc
(508) 674-6846
605 Globe Street
Fall River, MA
Services
AC and Heating Repair,Electrical Repair,Engine Repair,Fuel Injection Repair,Mufflers Repair,Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Baystate Ford
(781) 341-3500
703 Washington St
South Easton, MA
Services
Alignment Repair,Auto Body Repair,Collision Repair,Fuel Injection Repair,Radiator Repair,Service Stations,Truck Auto Body,Tune up Repair,Auto Dealers

John's Motor Co
(401) 724-6658
707 Broadway
Pawtucket, RI

Data Provided by:
Sabets Auto Sales
(401) 722-1818
1271 Mineral Spring Ave
North Providence, RI

Data Provided by:
Data Provided by:

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...

Click here to read the rest of this article from Lease Guide