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BizAttorney
BizAttorney, Attorney
Category: Legal
Satisfied Customers: 2273
Experience:  Over 12 years of business and legal experience.
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The dealers is seperate from the second lender.I feel the

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The dealers is seperate from the second lender.I feel the date of the second lender should carry some weight.Can I return the car for this reason?

BizAttorney :

Good evening! I can help you out with your legal question tonight. Can you please add some information to your question? I understand you bought a car and had two loans on it correct?

Customer:

Yeys,the dealer has not accepted the money from the prefered lender.

BizAttorney :

Did they say why they didn't accept money? Dealers really can't control how you pay for the car, if you provide funds, they are to take them.

Customer:

That is the problem . I initialy indicated the lender iwanted but while in the office the dealer unrolled his 5 page contract and at the timei thought it was comparable to what II could expect from my lender . I signed that contract . I didnt have acontract from my lender. At that time.It took the dealer 3 weeks to find alender. I had acontract from my lender and readit and signed it.Before I heard from the dealer again.

Customer:

The dealer has accepted the lenders funding

BizAttorney :

I understand.

BizAttorney :

So now they want you to use their financing is that correct?

BizAttorney :

Do you still have the vehicle?

Customer:

It is ayear longer 1500 dollars more than the prefered lenders.

Customer:

yes

BizAttorney :

You can always get a loan with another bank and pay off the preferred lender.

BizAttorney :

The preferred lender has a contract and you will need to see if there is any early payment penalty. You can then go and get a loan for the vehicle and pay off the preferred lender so you don't have to pay all of the interest. Then you will be left with just a loan from a bank you chose.

BizAttorney :

Did you have additional questions?

Customer:

Careyes

BizAttorney :

You will need to pay off the loan that you signed for, using money from a new loan.

Customer:

Can I return the car?

BizAttorney :

You could, but you would still be required to make payments.

BizAttorney :

The contract is regardless of what you do with the car. You could sell it and pay off your original loan.

BizAttorney :

If you return the car, they will buy it back for a rediculously low amount and then tell you that you have to pay the remaining balance on your loan.

BizAttorney :

Does that make sense? Did you have any follow up questions?

Customer:

No

BizAttorney :

It didn't make sense?

Customer:

Not what I wanted to hear. Is ther e some kind of mail fraud in volved in representing the buyer here?

BizAttorney :

I understand. You can always try and sue the seller for predatory lending. That is where they take advantage of you and force you into taking the loan at their rates.

BizAttorney :

You could consult a local attorney to see if there are sufficient facts to support this.

BizAttorney :

CA is a fairly strong contract state though, meaning the courts try and enforce a contract unless someone has diminished mental capacity.

Customer:

The dealer had Knowledge of my original contract and yet went ahead with the other lender.

BizAttorney :

It will hinge on the contract verbiage, but you may have a case. You really would need to bring the document into a local attorney and let him/her review it. Pay the 1 hour consultation fee and get their analysis. It is difficult to determine how strong your suit would be without reviewing the documents.

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