Consumer Protection Law
Consumer Protection Law Questions? Ask a Lawyer Now.
I'm Lucy, and I'd be happy to answer your questions today. I'm sorry to hear that this happened.
If you signed the paperwork at $23,000 that is unfortunately binding, even if you found the car advertised for a lower price. There is no right to pay the lowest available price when you buy something, and the dealer doesn't have to tell someone they have advertised the car for a lower price if you didn't see it before entering the agreement. There is no automatic right to cancel a sale after it's entered unless there is a clause in the contract that says so.
The dealership might be willing to work with you if the loan is not finalized yet, but they're not legally required to change the agreement that was made if you signed purchase and sale paperwork at the higher price.
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There's a difference between finalizing the sale and finalizing the loan. The sale is final as soon as you agree to it. But loans require approval from the third party bank, and that sometimes takes a little extra time (even when financing is through the dealer, there's always a bank involved somewhere). The fact that they let you take the car before the loan was complete doesn't relieve you of any of your obligations under the contract. If it becomes impossible for you to get a loan at the terms agreed, then you'd be able to return the car.
You're under an obligation to negotiate the contract in good faith. Refusing to provide required documentation to finalize the financing could be seen as a breach of that obligation of good faith. Also, unless you're getting special financing or other special consideration for being in the military, not providing your orders could just mean you'd get worse terms- and that won't help you at all.
You really may be better off just asking them to work with you, throw in an extended warranty or service plan, or reduce the price, under the circumstances. They don't have to do that, but they can.