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Dealer Wants Car Back - Wants More Money Smyrna GA

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.

Pugmire Isuzu
(770) 952-2261
1865 Cobb Parkway South
Marietta, GA
Services
Auto Body Repair,Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Lou Sobh Ford Inc
(404) 633-4005
1665 Scott Blvd.
Decatur, GA
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Van Dealers,Auto Dealers

National Auto Sales Inc
(770) 319-9950
2482 Spring Rd SE
Smyrna, GA

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Nalley Lexus-Symrna
(770) 428-9600
2750 Cobb Pkwy SE
Smyrna, GA

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Genao Auto Sales
(770) 801-0432
3461 S Cobb Dr SE
Smyrna, GA

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Pugmire Suzuki
(770) 952-1984
1925 Cobb Parkway South
Marietta, GA
Services
SUV Repair,Used Car Dealers,Auto Dealers

New Horizons Outdoors
(770) 949-9644
4429 Bankhead Highway
Douglasville, GA
Services
RV and Camper Repair,Trailer Repair,Truck Parts,Auto Dealers,RV and Camper Dealers

Richway Auto Sales
(770) 805-4188
2833 S Cobb Dr SE
Smyrna, GA

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Auto Smith Of Georgia Inc
(770) 437-9612
2450 S Cobb Dr SE
Smyrna, GA

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Europium Motorsports Inc
(770) 433-8855
1600 Wilson Way SE
Smyrna, GA

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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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