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Dealer Wants Car Back - Wants More Money Woonsocket 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.

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

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

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

Tomassini's Driver's Choice Co
(401) 769-2400
494 Cumberland Hill Rd
Woonsocket, RI

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Route 44 Auto Sales
(401) 949-4200
675 Putnam Pike
Greenville, 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

J and S Motors Inc
(508) 234-5666
278 Church Street
Whitinsville, MA
Services
Auto Inspection,Truck Service Station,Van Dealers,Used Truck Dealers,Auto Dealers

Route 193 Auto Sales
(508) 949-7555
29 Worcester Road
Webster, MA
Services
AC and Heating Repair,Alignment Repair,SUV Repair,Truck Service Station,Truck Detailing,ATV Dealers,Used Car Dealers,Auto Dealers

Real Deal Auto Sales & Svc
(508) 278-3434
586 Quaker Hwy
Uxbridge, MA

Data Provided by:
Al Cerrones Auto Annex
(508) 761-4800
130 E Washington St
North Attleboro, MA

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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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