How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask TJ, Esq. Your Own Question
TJ, Esq.
TJ, Esq., Attorney
Category: Legal
Satisfied Customers: 12207
Experience:  JD, MBA
Type Your Legal Question Here...
TJ, Esq. is online now
A new question is answered every 9 seconds

I just bought a new car today and signed the papers. I live

Resolved Question:

I just bought a new car today and signed the papers. I live in Texas. They said on a 72 month the interest rate is higher. I said my local bank has 3.29% financing. He said he works directly with them and they dont for cars over 60 mo. Now my interest rate is 5.5 and the bank does offer 3.29% for 72 mo. What do I do?
Submitted: 5 years ago.
Category: Legal
Expert:  TJ, Esq. replied 5 years ago.
Hello and thank you for allowing me the opportunity to assist you.

Please note that for legal reasons my answers are only intended to be general/educational information rather than specific legal advice. If you need specific legal advice, then you must consult with a local attorney in your jurisdiction.

The financing is totally separate from the sale of the car, so the dealer is not really a party anymore. In any event, you can do one of two things: (1) See if the lender will allow you to cancel the financing so that you can obtain the better rate from your bank. (2) If the lender will not allow you to cancel, then see if your bank will allow you to refinance at the lower rate. Many people don't realize that car loans can be refinanced, but they can (I've done it myself for a better rate).

Have I satisfactorily addressed your concerns? If not, then feel free to let me know, as I will be happy to clarify my answer or help with your follow-up questions. In the meantime, please remember to click the green accept button so that I will receive credit and compensation for my time (doing so does not end our discussion). Positive feedback is always appreciated as well. Thank you and good luck!
TJ, Esq. and 9 other Legal Specialists are ready to help you

Related Legal Questions