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Ask Barrister Your Own Question
Barrister
Barrister, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 34832
Experience:  Attorney,16 years experience in consumer protection areas
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I signed an "agreement" with a car dealership to lease a new

Customer Question

I signed an "agreement" with a car dealership to lease a new car, but now the dealership
cannot stick to that proposed agreement. The monthly lease payment is going to be raised
because of my low credit score. I drove the vehicle home last night, less than a mile away.
Can I back out of the deal now, they want to come in this morning to close the deal.
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.

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Was your agreement in writing that states a set amount of money that would be paid by you each month as a payment amount?

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Or did they say that they would estimate your payment amount, but couldn't finalize the amount until they ran your credit?

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Does the contract identify the vehicle by VIN?

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thanks

Barrister

Customer: replied 1 year ago.
The agreement I signed had an amount for the monthly payment, and as you asked they said it could not be finalized until
they ran my credit report. I am not sure it had the vehicle VIN number on the agreement< I do not remember seeing it?
Expert:  Barrister replied 1 year ago.

Ok, then if there was no set amount agreed to in the contract, then you don't have a finalized contract with regard to the leasing aspect of it. This is called "spot delivery" where they put you in the vehicle prior to finalizing the contract to get you in it and liking it so you are more likely to agree to a higher payment when they come back at you after running your credit.

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You can tell the dealer that you have no interest in any deal that is not identical to the one you signed, under any circumstances. He can then offer you a deal with another bank (he may have to lower the price of his rate markup to meet the terms; he probably will). If he refuses, tell him that he can come to get the car, but you won't release it until you get a certified check for the amount of money you put down.

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thanks

Barrister