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Andrea, Esq.
Andrea, Esq., Attorney
Category: Legal
Satisfied Customers: 12554
Experience:  25 yrs. experience in family law, estates, real estate, business law, criminal defense, immigration, and employment law.
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My daughter signed an order to buy a horse trailer. I put

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My daughter signed an order to buy a horse trailer. I put down a $300 deposit. She filled out a credit application and was denied. The dealer told her she would need to come up with her own financing because the trailer had already been ordered. She can not obtain that credit so is she liable for this trailer?

Good Evening


Thank you for your question


If the contract to buy the horse trailer was not contingent on any financing, then your daughter would have to come up with her own financing to pay the balance of the purchase price.


If she cannot afford to pay the balance the way the seller wants, you can try negotiating with the seller to possibly take installment payments over a period of time, or if he does not want that, you can negoriate to have the seller hold onto the horse trailer for a couple of months, giving your daughter a little more time to find financing or come up with more of a down payment and maybe then the seller will consider installment payments.


Another alternative is to walk away from the contract, but in that situation, the seller can sue her for the balance of the purchase price and keep the $300.






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Customer: replied 7 years ago.
Thank you for your answer. This is really bad news for her since she doesn't qualify for a loan and the dealer does not want to cooperate. If he would sue her, how would that outcome be since she couldn't get financing? I would help, but I have no extra money and my credit is not good.

The dealer would sue her for breach of contract and he would be awarded judgment. The Judge would probably award the dealer liquidated damages in the amount of $300, the amount you gave on behalf of your daughter for the down payment.


I wish I could give you better news, but I am obligated to give correct answers and information.



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