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my daughter and her husband (both signed - he as co-signer on new purchase) made a poor auto purchase and loan negotiation tonight (11pm) and the car she is trading in is co-signed by me. The dealer needs my signature to complete the transaction. Can I stop the process for my daughter by not signing. The only stipulation we can find in the contract is "you will return car if loan does not go through". North Carolina
The salesman is willing to make a 150 mile roundtrip to get my signature....tells you how "good" the deal was in his favor. Says he needs my signature by 4pm today.
I want to drive to the dealership alone with the purchased car first thing in the morning (9am) and tell them I will NOT sign over the trade in and stop the transaction.
Thank you Alex,
I do have have two follow up questions (1) If, as I understand it, the trade in is listed on the contract wouldn't the dealership need to REwrite the contract in order to get the financing?
(2) the salesman said he had to have my signature by 4pm....any idea what happens if I just wait him out?
yes value given to trade in $5,000
unsure about the words "down payment" have not seen contract yet
this is a used vehicle
asking price $12,000
trade in $5,000 (loan pay off aprox $3,000)
seems to me this is a $10,000 sale plus tax, tag, etc.
The loan is for $14,100 ($197 per month x 72 months PLUS some Gap insurance for another $10.00 per month
So $207 x 72
Hope this is what you needed
I appreciate your time and expertise.
Alex, I do not know how to let JUSTANSWER know this but when the RATE my expert page came up it would not let me actually click on anything other than the actual rating. I had to really work at TABing my way through the page several times.
thanks again dk