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Lucy, Esq.
Lucy, Esq., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 29787
Experience:  Lawyer
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Do you guys do Auto Cases? I recently bought a new car at a

Customer Question

Hi. Do you guys do Auto Cases? I recently bought a new car at a dealership. I was planning on getting one i found online but decided to go with another vehicle. The MSRP was 26000 and the selling price was 23000. I thought i was getting a decent deal. They said I needed to provide orders to finish the financing which i haven't provided yet but Im currently driving the car. I looked online and its prices at 19500. What are my options.
Thank you for your time.
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Lucy, Esq. replied 1 year ago.


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.

If you have any questions or concerns about my response, please reply WITHOUT RATING. It's important that you are 100% satisfied with my courtesy and professionalism. Otherwise, please rate my service positively so I am paid for the time I spend answering questions. If you are on a mobile device, you may need to scroll to the right. There is no charge for follow-up questions. Thank you.

Customer: replied 1 year ago.
I understand it is binding me too it. But it also says the dealership needs to finalize the loan before I take the car home. They let me take it before finalizing it due to having proof of residence. That's what I was wondering. What if it's not finalized? Does that mean it's not mine yet?
Expert:  Lucy, Esq. replied 1 year ago.

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.

Customer: replied 1 year ago.
Thank you for your answers. I just have one more. I'm on the military and they said they need my orders to finalize the financing.. what if I don't provide them that?? Would that mean we wouldn't be able to agree on the terms?
Expert:  Lucy, Esq. replied 1 year ago.

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.