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Dealer Wants Car Back - Wants More Money Pittsfield MA

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.

Signature Series Pre-Owned
(413) 443-3236
768 East St
Pittsfield, MA

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Livingston Motors Inc
(413) 499-7733
350 Merrill Rd
Pittsfield, MA

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JMR Honda and Suzuki
(508) 778-7211
741 Yarmouth Road
Hyannis, MA
Services
Engine Repair,Motorcycle Fabrication,Motorcycle Inspection,Auto Dealers

Pioneer SAAB Volvo
(413) 665-2140
253 Greenfield Rd,
South Deerfield, MA
Services
Auto Repair,Clutch Repair,Used Car Dealers,Auto Dealers

Harbro Sales and Service
(508) 234-6767
546 Providence Rd
Whitinsville, MA
Services
Auto Inspection,Emissions Testing,Fuel Injection Repair,Used Truck Dealers,Used Car Dealers,Auto Dealers

Doc's Auto Sales
(413) 445-5154
567 Dalton Ave
Pittsfield, MA

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Formel Motor Co
(413) 528-9424
21 Van Deusenville Rd
Great Barrington, MA

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Millbury Ford Mercury
(508) 832-6261
Rts 20 & 290
Auburn, MA
Services
Auto Body Repair,Truck 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

Salvadore Chevrolet
(978) 630-2000
442 W Broadway
Gardner, MA
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Truck Dealers,Used Car 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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