Auto Leasing Guide
Go to LeaseGuide.com now !

Dealer Wants Car Back - Wants More Money Waipahu HI

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.

Servco Pacific Inc
(808) 564-1000
94-729 Farrington Highway
Waipahu, HI
Services
Clutch Repair,Used Car Dealers,Auto Dealers

Servco Auto Leeward Truck
(808) 564-1000
94-729 Farrington Highway, # 1118
Waipahu, HI
Services
Clutch Repair,Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

King Windward Nissan
(808) 235-6433
45-568 Kamehameha Highway
Kaneohe, HI
Services
Radiator Repair,Tune up Repair,Auto Dealers

Windward Hyundai
(808) 233-6000
46-177 Kahuhipa Street
Kaneohe, HI
Services
Clutch Repair,Radiator Repair,Electric Car Repair,Tune up Repair,Truck Dealers,Auto Dealers

Dmn Inc
(808) 677-9800
94-366 Pupupani St
Waipahu, HI

Data Provided by:
Cutter Dodge Chrysler Jeep WPH
(808) 564-9500
94-119 Farrington Highway
Waipahu, HI
Services
Clutch Repair,Radiator Repair,Tune up Repair,Truck Dealers,Auto Dealers

Servco Pacific Inc
(808) 564-1490
45-655 Kamehameha Highway
Kaneohe, HI
Services
Clutch Repair,Radiator Repair,Tune up Repair,Truck Dealers,Auto Dealers

Servco Auto Windward
(808) 564-1400
45-655 Kamehameha Highway, # 1127
Kaneohe, HI
Services
Clutch Repair,Radiator Repair,SUV Repair,Tune up Repair,Truck Dealers,Used Car Dealers,Auto Dealers

Anders Automotive
(808) 247-5299
46-168 Malina Place
Kaneohe, HI
Services
Radiator Repair,Tune up Repair,Auto Dealers

Pflueger Auto Value Center Waipahu
(808) 680-7700
94-097 Farrington Highway
Waipahu, HI

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