March 31, 2007

Hi Tony,

I signed papers at 9:00pm on Wednesday for a new car, I signed a "we owe" that shows they have to send the car off to get the add-ons done (like spoiler, ground effects). They said I would get car back on Monday or Tuesday.

Keep in mind they do not have a copy of my insurance card. I called them almost 20 hour later to cancel and they said "no."

I do not have possession of the car. They said they already got payment from the bank and filed with state of MO. I know the check hasn't been posted to my account. I put $6,000 down.

I called back and said I did not take the car off the lot and need to cancel and they said since they sent the car off to get stuff done to it they can't cancel it.

Is this true or do they just want to try to keep the deal and not have to eat the "we owe fees?"

Thanks,
Erica S.

Answer:

Hi Erica,

You're in a very grey area here. I don't know your state's laws concerning a situation such as this, but generally speaking once you sign the buyer's order, loan contracts, title papers, write the dealer a check - and once the deal is funded by the lending institution and the title is transferred then you bought yourself a car.

There are no time intervals that you have to return a vehicle. The only way would be for the dealer to voluntary back-out the deal like it never happened, and once again, if he did indeed receive funding and transfer the title the chances are almost zero that the dealer will cooperate.

Call the General Manager or the owner and ask them to reverse the deal. Don't waste your time with the salesman, Finance Manager or Sales Manager. They'll do whatever they can to keep their commissions. You may indeed be wasting your time anyway!

All my very best...

Tony Iorio