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Dimitry Esquire
Dimitry Esquire, Attorney
Category: Consumer Protection Law
Satisfied Customers: 41220
Experience:  Licensed in PA & NJ, Experienced attorney.
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Is a consumer able to get out of a contract that they signed

Customer Question

Is a consumer able to get out of a contract that they signed when they purchased a used car from a dealership, because the cost of the car was almost twice the Kelley Blue Book cost?
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Dimitry Esquire replied 1 year ago.

Thank you for your question. Please permit me to assist you with your concerns.

My apologies but an unfair price is not a legitimate basis to get out of a contact. If a car is valued at $5,000 but someone wishes to buy it for $10,000, it is not a violation under law. Grounds to get out of a contract typically relate to fraud or misrepresentation. Examples may be not disclosing that the vehicle was in a car accident and has a reconstructed title, or if it was told to have options and features that it did not possess. But a price, by itself, is not valid to get out from the contract.

Sincerely,

Dimitry, Esq.

Customer: replied 1 year ago.
Thank you for your quick replay. The auto dealership has offered to may a payment in the amount of $3,000.00 on the loan that was financed. My friend has advised me to ask them for an additional $2,000 towards the loan. My gut feeling is to accept the offer that they have put on the table. What would you suggest?. The loan is currently in the amount of
$20,108.40 and this will lower it to $17,108.40 It is for a 2011 Ford Escape Limited. The Kelly Blue Book value indicates a price was somewhere between $10,518.00 to $11,521. They indicated that the Finance company which is Teacher's Credit Union would not have financed the loan if the amount asked was over the value of the vehicle. What should I do? Should I pursue this further with legal counsel? Please advise?
Expert:  Dimitry Esquire replied 1 year ago.

Hi,

I must ask--how did you end up purchasing this vehicle for such an inflated price, what happened?