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Mad Marv

Unwinding A Deal

August 7, 2012

Who doesn’t like unwinding with an adult beverage after a long day? Well, this month, I’d like to talk about the other, less relaxing definition of “unwinding.” I’m talking about unwinding a retail deal that has already been delivered. You may think I’ve finally fallen off my rocker, but I do feel there are situations when letting a customer out of a deal is the right thing to do.

I understand why the mere mention of unwinding a deal strikes fear in your heart. It’s an accounting nightmare. Commissions need to be charged back, even if the month has already closed and everyone has been paid. Your manufacturer’s statement of origin must be retrieved from the DMV. Affidavits must be executed to retain the vehicle’s new-car status; if you don’t, you’ve got a huge depreciation on your hands. And, finally, if a trade-in was involved, the payoff must be refunded by the bank and the title received on that trade returned.

We must also contend with our pride. Many of us in the car business are Type-A personalities. It’s what makes us successful, but it can also be problematic when a customer asks out of a deal, as it’s easy for us to overlook an opportunity to satisfy the customer by re-contracting at a lower rate.

With all that said, I still believe there are situations where we must swallow our pride and endure the hassle of unwinding a deal. Let’s take a look at five such situations:

1. Run Spot, Run: Many stores spot-deliver vehicles based on credit scores and deal structure for the sake of time.  The goal is to take the customer out of the market as soon as possible to seal the deal, so the customer is asked to sign an immediate delivery agreement form outlining the deal. We can always re-contract if needed, right?

Just so we’re all on the same page, the agreement clearly states that if the dealership can’t find a sales finance company to buy the contract, the car is to be returned. The sale is then rescinded unless the customer can procure his or her own financing.  If your store operates this aggressively, you’re bound to face a situation where it’s necessary to unwind the deal.

2. Buyer’s Remorse: For some customers, the rush of a new-car purchase fades once they pull into their driveway. Maybe friends and family members caused them to rethink the deal. Maybe they realized their payment was too much for their budget. Whatever the case is, the customer is back, and they’re complaining about not being treated fairly. Bottom line, they want out of the deal. This is a situation where the deal can sometimes be saved with a little bit of good customer service. If not, bring them back in and renegotiate the products or cancel them altogether. This is an easy fix.

3. Fraud Discovery: Shortly after delivery, you discover that the vehicle isn’t for the buyer; it’s for the customer’s divorced 30-year-old daughter with the 400-plus credit score. Or you find out the customer’s 10 years on the job was actually 10 months. That commission is staring you in the face, but you have to do the right thing. Explain the situation and let them acquire their own financing or resubmit the deal with the correct buyer.

4. Vehicle Not Performing as Promised: When we sell a used vehicle at Langdale, we insist that the prospect have it inspected by his or her mechanic. Unfortunately, even that hasn’t prevented situations where the customer wants out of the vehicle he or she purchased. At my store, we view this scenario as an opportunity to win over a customer with good service. Yeah, I know all about the “implied warranty” rule, but sometimes you need to accommodate the customer.

5. He Said, She Said: It’s a tough situation when a salesperson’s promise to a customer isn’t satisfied because it wasn’t communicated to management. Nobody wins. If the dealership won’t honor the promise, then unwind the deal and move on. 

At the end of the day, it’s always at the discretion of the general manager or dealer as to what policy is observed. I’ve met some dealers who operate so tightly that deposits are nonrefundable, and they will not agree to do any kind of post-deal work unless the salesperson personally pays the bill. They would rather hire an attorney and take their chances. I’m not opposed to that since they have the real money invested in the operation. But management should be empowered to fix problems before they happen to prevent a done deal from falling apart.

Marv Eleazer is a finance manager at Langdale Ford in Valdosta, Ga. E-mail him at [email protected]



  1. 1. BRUCE LAVERDIERE [ August 30, 2012 @ 12:49PM ]


  2. 2. art maruri [ September 04, 2012 @ 01:44PM ]

    If everybody has done there jobs, the customer should be happy.

  3. 3. todd [ February 28, 2013 @ 08:39PM ]

    what if you get buyers remorse, but haven't paid for, financed, picked up or delivered your trade. No cash or vehicles have changed hands only contracts have been signed with final docs to be delivered next day when vehicles and cash will be done????

  4. 4. Mad Marv [ May 20, 2013 @ 12:14PM ]

    Sorry I missed your question Todd.
    Unless state law requires physical delivery to complete a sale then you would legally be on the hook however there are ways to work out any situation. At our store, we would simply ask what we could do to make you happy. Quite often customers may not understand the details or an extra option might make them feel better but in any event if you simply couldn't be consoled, we would probably unwind the transaction. As a dealer, we would much rather move on and just maybe make a future customer out of you rather than hold your feet to the fire and have you trashing us everywhere you go. I hope that's what happened in yolur case.

  5. 5. VALERIE MACK [ June 28, 2013 @ 08:14PM ]


  6. 6. brando [ July 31, 2013 @ 02:47AM ]

    i sir i just have a setuation is this. i went to the dealer to trade in my 09 corrola for a 2014 scion but i have a very bad credit score,but then when we talk it over since i work two jobs,and i told the sales person that i have a high gross income,so they aproved me and sign the contract and left with the car.later at night i realize i will be paying to much for this car and it is was out of my range.After 4 days they told me that they already find a finance company to finance my car and ask for my pay stub.but then the bank didnt aproved it coz i they found out that im not making enough money to afford that car.Now they want to take the new car and accused me of frouding them about my incom and they want to take my old car too..pls help me the legalitize of this could i still take my old car back?what do i need to do about my setuation. plss help. ..i pray that u guys can reply asap..

  7. 7. Mad Marv [ July 31, 2013 @ 10:24AM ]

    Sorry to learn about your problem Brando but there's a remedy for just about any situation.

    The dealer apparently submitted your application to a lender that required proof of income which is why the dealer called you to produce it. Based on the lender's guidelines, the income wasn't sufficient to justify the loan so the deal was rejected. The dealer is now calling you to return the car and unwind the purchase agreement. This is perfectly reasonable since the dealer was unable to find a lender to sell the contract to.

    Now, the statement by the dealer accusing you of fraud is probably just frustration so I would pass it off and simply take the car back as requested and get the keys to your trade in. There should be no issue with you getting your old car back whatsoever.

    Perhaps you might want to try another dealership since you have been educated a bit but this time be sure to take your pay stubs in with you and ask the dealer to try and get you "pre-approved" to avoid this embarrassment again.

    Let me know how this plays out. Good Luck!

  8. 8. Janice [ August 04, 2013 @ 05:26AM ]

    I bought a used car at a Home DEpot parking lot a special blowout sale , they sent flyers sayin your a winner see what you have won. I was talked into a 2010 Honda and traded in a 2005 Toyota. after getting it home all done in 1 day I figured out it was an awful deal and want my old car back is there any way I can undo. Plus when I talked to them they said tey gave me 11000 for my car but on their worksheet I showed them they really only gave 8000 and charged 15000. Please help this is in NY

  9. 9. Janice [ August 04, 2013 @ 05:26AM ]

    I bought a used car at a Home DEpot parking lot a special blowout sale , they sent flyers sayin your a winner see what you have won. I was talked into a 2010 Honda and traded in a 2005 Toyota. after getting it home all done in 1 day I figured out it was an awful deal and want my old car back is there any way I can undo. Plus when I talked to them they said tey gave me 11000 for my car but on their worksheet I showed them they really only gave 8000 and charged 15000. Please help this is in NY

  10. 10. Mad Marv [ August 05, 2013 @ 07:20PM ]

    Ouch, Janice!

    If you have ANY evidence of impropriety on the dealer's part about the disparity in pricing you might have a point to ask them anout unwinding the deal. It's SO important to be certain the numbers match up when trading cars. While I'm not against off site sales, it is probably more difficult on customers than dealers. Here is a website with phone numbers that may help. Good Luck!

  11. 11. Mike [ August 24, 2013 @ 12:28PM ]

    I recently bought a vehicle in NY that cannot be fueled at every station due to a guard on the fuel cap. Only regulated nozzles will fit into it, and NY state doesn't regulate nozzle sizes. The dealer didn't make this known, and now I cannot gas my vehicle anywhere near my house. The dealer will not allow a return, and instead wants to buy it back as a used car and sell me another car. He is offering very little money. The car was purchased one month ago and only has 600 miles on it. Should he grant a fair refund, and collateral swap for a new vehicle? The car was financed.

  12. 12. Mike [ August 24, 2013 @ 12:29PM ]

    I recently bought a vehicle in NY that cannot be fueled at every station due to a guard on the fuel cap. Only regulated nozzles will fit into it, and NY state doesn't regulate nozzle sizes. The dealer didn't make this known, and now I cannot gas my vehicle anywhere near my house. The dealer will not allow a return, and instead wants to buy it back as a used car and sell me another car. He is offering very little money. The car was purchased one month ago and only has 600 miles on it. Should he grant a fair refund, and collateral swap for a new vehicle? The car was financed.

  13. 13. Mike [ August 24, 2013 @ 12:31PM ]

    I recently bought a vehicle in NY that cannot be fueled at every station due to a guard on the fuel cap. Only regulated nozzles will fit into it, and NY state doesn't regulate nozzle sizes. The dealer didn't make this known, and now I cannot gas my vehicle anywhere near my house. The dealer will not allow a return, and instead wants to buy it back as a used car and sell me another car. He is offering very little money. The car was purchased one month ago and only has 600 miles on it. Should he grant a fair refund, and collateral swap for a new vehicle? The car was financed.

  14. 14. Mad Marv [ August 25, 2013 @ 05:28AM ]

    Mike-While I empathize with your inconvenience, it doesn't appear the dealer misrepresented the terms of the sale. Unless there is some sort of law or ordinance requiring him to disclose the nozzle issue, he probably acted in good faith that you were aware being that you're a NY resident. Since this is a new car, it would seem reasonable that others have suffered the same as you so there must be a remedy. I would ask the dealer if the Guard on the fuel cap can be modified to your satisfaction. It seems strange that a standard sized nozzle isn't common where you live. SInce the transaction is already weeks old, your vehicle has been titled with the state which now affects the value.

  15. 15. Sb [ August 31, 2013 @ 04:00AM ]

    I haven't even had this car a full 24 hours. I had a 6000 down payment the car was 17,998 and I see that I've gotten swindled. After i got home to to look at the papers i couldnt believe my eyes... the numbers didnt seem to match up with a 6000 down payment... y is it that im looking at another 15k left to pay. doesnt make a lot of sense with a 6000 down payment. I kept being pressured & pressured after I told her several times I'm just looking & I told her I'm focused on the overall price & monthly payments.. But I had been there all day I was just ready to leave...& trust me when I say I was pressured & deceived into getting this car. Every time I got up to walk away she'd come running saying let me see this & that 5 min. This & that..... Seems like I just handed them 6000 and I want to unwind this deal bc my experience has been a night mare ever since i walked in to look at the car..So what can I do to unwind this deal?! If not can I take this to a lawyer or something?! I really want out! Can't even be happy about it! It was a used car for with 22k miles 2013... priced at 17 but I'm still paying 15 and already gave them 6k!

  16. 16. Mad Marv [ August 31, 2013 @ 07:11AM ]

    Sorry to hear about your problem Sb. I'm reading a lot of confusion in your post and can empathize. Sometimes, in the negotiation or excitement of buying a car, things get lost in translation and dissatisfaction sets in which is what appears to be the case here.

    Let's look at a couple of things first.

    Assume 7% sales taxes @ $1259 + dealer fees of $199 + Title charges of $50 and you have a subtotal of $19506. Subtract $6000 and you should be at $13506 but that may not be the end of the story if you agreed to buy a Service Contract or other service which would've been added to the amount financed and clearly noted on the contract. Carefully check the figures that add up to the Amount Financed and then be certain it's what you agreed to. If not, then personally return to the dealership for an explanation.

    Any problem can be solved and I'm certain the dealer wants your future business. If there is any mistake or impropriety, I believe the dealer will quickly make it right.

  17. 17. AJ [ September 11, 2013 @ 07:55PM ]

    went from a 1992 corolla that I had for 21.5 yrs, time for a new car, went with a year and model 2013 Ford Fiesta. wish I had pressed harder to get the corolla. Have had this Fiesta for 11 days, on day 2, noticed noises coming from the front underside, at low speeds, at take off speeds, idling sometimes, now its at faster speeds 30-40. took it to dealership on day 6, SHORT test drive with the service guy, he heard the noise, said it was the transmission and was normal, gave me a printout, since day 6 noise is still daily, has a couple of blind spots that have caused almost 2 near misses (would have been my fault) a scratch on the rear bumper I did not see at pickup, the dealership wants to fix with touch up paint instead of filling it and repainting it. called to day to discuss a possibly buy back, they do not do that, instead I have to take off work again, drive an hour out there for their service dept to look at the noise again. This car is just not a good fit for me and my situation any longer, need to just personally move on and find another Toyota, no ill against Ford, just this is not the brand for me personally. But dealer does not seem we will be able to mutually agree to have them take it back, it has less than 1000 miles, they can still sell it as new. Any suggestions?

  18. 18. Mad Marv [ September 12, 2013 @ 01:23PM ]

    Terribly sorry to hear of your woes AJ. The Fiesta is a great car though it seems yours has developed an issue. I would insist on a conversation with the service director/manager to get the problem(s) resolved. There may likely be a Technical Service Bulletin available to the dealer that can address the problem and get rid of the noise. As far as the scratch, I would see the General Manager about that. Surely something as minor as this can be handled to your satisfaction.

    The dealer cannot resell your car as new since it has already been titled but I'll bet a face to face meeting-with calm yet determined resolve on your part-will cause them to do the right thing. The last thing they want is a dissatisfied customer spreading the word. Though there may be other Ford dealers closer to you, the selling dealer has the most to gain so I'd be a bit more persistent in getting them to correct your problems.

  19. 19. Grant Sawyer [ September 17, 2013 @ 06:33AM ]

    Other than the sales contract with VOID written on it by dealer, what paper work should one leave the dealership with if the deal is unwound?

  20. 20. Mad Marv [ September 17, 2013 @ 06:44AM ]

    Great question. Other than the dealer providing you with a lien release and a cancelled title/license application about the only other thing he can do is provide you with a letter that all documentation related to the sale will be destroyed that doesn't have to be retained.

  21. 21. Vin [ September 18, 2013 @ 02:05PM ]

    I recently purchased a certified mercedex suv from Mass and I live in NJ. The guys delayed the whole registration (They took ove) thing inpite of promising me within a week or so after payment,
    They handed it overto NY agency who inturn gave to NJ agency to do needful which was never done and then atend of 3 weeks I had to rush myself to make sure and press them fordocument sto be sent to me so I went myself to dmv and did all registration stuff. And had to take a day off forfeiting my salary on weekday to take delivery as it was end of auspicious period for me at end of 3 weeks which was alreayd long time wait. There is also a law about 7 day registraion in Mass. Becauseof dealership delayand negligence I have incurre d lossed in rental , my salary, and mental frustration and exertion. None of the guys whom I dealt with earlier during sale came forward , avoided meeting me saying they are on leave while delivery. I want to sue them for the harrasment and delay. Kindly advise.

  22. 22. Vin [ September 18, 2013 @ 02:09PM ]

    to be precise I made payment on 27 august and getting delivery today sept 18. after doing all the hassle and running about for lastoneand half days doing dmv round/

  23. 23. Sandy [ September 18, 2013 @ 03:14PM ]

    Hi Marv, I bought a 2013 Lexus 350 on September 7. I love the car but I find that it does not ride as smooth as my 2002 Avalon. The dealer says I will get used to it and to let them know how I feel after driving it for a month. Do I have any recourse in this situation? I notice such a difference in the ride it is driving me crazy. I paid a lot of money for this car and I would expect it to ride as good as an 11 year old car.

  24. 24. Mad Marv [ September 19, 2013 @ 10:33AM ]

    Sorry to learn about your troubles Vin. Communication is a wonderful thing when observed by all parties ande the lack thereof can be frustrating especially in a business transaction.

    If I understand correctly, the dealer didn't register/title your vehicle in a timely manner according to state law thereby causing you to assist and causing you loss of wages and inconvenience. As mentioned in earlier responses to customers in the above comments, I would call for a physical appointment the General Manager. Aviod the other parties you've already dealt with since they've obviously failed in satisfying you.

    Be prepared by bringing all the sale and registration documents with you and calmly state your grievance. It's in the best interest of the dealer to rectify this problem. If you feel you're out wages or any other cost's then have an itemized list prepared as well. I believe you'll be satisfied with the results.

    Good Luck!

  25. 25. Mad Marv [ September 19, 2013 @ 10:56AM ]

    Hello Sandy and thanks for taking the time to read.
    I can understand your feelings here. Both cars you mentioned are great ones to own both for luxury and comfort and I'm certain you invested a lot of time and research making certain the Lexus was the right choice for you. I preusme your initial test drive helped convince you of that as well.

    Unfortunately that short time behind the wheel doesn't always demonstrate the full capabilities of an automobile especially with the complexities that today's car's offer. Even in the short span of 11 years, there has been vast improvements in ride technology that puts the driver more in touch with the varying road surfaces. The ride of a vehicle is designed to not only be comfortable but to trasmit road conditions to the driver's senses. Some suspensions are more taut and rigid especially sports cars. Tires can also make a difference in ride quality but bear in mind manufacturers do a lot of research matching tires to car suspensions.

    Your recourse might be limited here since there doesn't seem to be any mechanical failure that hasn't been solved by the dealer. However, if you're still dissatisfied you may want to log your complaint with the manufacturer. Perhaps their collective knowledge from other owners could offer you some tips

  26. 26. Barbara [ September 23, 2013 @ 01:02AM ]

    purchased a used 2013 jeep,,,it right hand drive for mail delivery,,sold me a LIFE TIME warranty, dealer called 1 week later and said warranty co. cancelled cause its a right hand drive, I called warranty co. to see what date they cancelled THEY said they did not cancel THE DEALER did, I also questioned my gap ins. checked off personal use and says will not cover commercial, they know I use for postal del. ,, dealer called me back said it is covered for commercial, I have no proof? my finance contract states personal use ,,finance co. says I will have to resign?? by day 5 I was in pain at herniated disc in neck, I am way to short for working out of it and have returned the jeep, they refuse to unwind, for there errors and or my issues working out of it,,,my trade was there when I returned it but sold my trade real quick (I believe the finance lady took it cuz her car is all of a sudden for sale at dealer) both convertibles!! claim they delivered that night I dropped jeep off??? it was sitting there on lot for sale with stickers, right after I refuse to keep jeep without life time warranty, I went outside to call rental car co. to go home, they had employee take my trade and drive around back. i believe i should not have to keep without lifetime warranty, it will be to costly with a high payment and no life time warranty later down road before paid off, was i tricked??

  27. 27. Mad Marv [ September 23, 2013 @ 04:06AM ]

    Ouch! I wouldn't say you were "tricked" but it does sounds like mistakes were made.

    As I often advise, gather your documentation, the name of the person(s) you spoke to at the Service Contract (warranty) company and sit down with the General Manager. I won't offer legal advice here since I'm not an attorney but there seems to be more than one problem associated with this transaction. Read the Service Contract (warranty) policy/enrollment form carefully to determine if right hand drive vehicles are excluded. While the Jeep is obviously being used on your daily mail route, most Service Contract companies allow for this though they may charge an upgrade fee. I would also call the GAP provider and inform them how the Jeep is being used. It's likely they may confirm coverage and if so, ask them to provide you with a letter of proof.

    Simply returning the Jeep will NOT solve this problem. You must take action.

    If you can't get the dealer to resolve this then I'd suggest an attorney.

  28. 28. Leilani [ September 25, 2013 @ 09:16AM ]

    Hi Marv, thanks for your article and sound advice to commenters. Could you offer some advice on my own situation?
    I bought a 2013 Kia Forte Koup that had 2,500 miles on it in CA last month. Initially, the salesperson was not forthcoming about the reason for the high miles on a new car. After pressing the issue, the salesperson admitted the car had been an unwind sale, but that the vehicle had never been registered. After much reassurance from the finance dept that the vehicle had never been registered and still a new car, I purchased it, they even threw in some free oil changes. The next day I noticed an odd smell in the car and with close inspection, discovered that the car had NOT been detailed as promisedmas the floor mats were dirty and had stains including a spill under the driver seat that was causing the smell. My salesperson agreed to have the car detailed if I brought it back. I made an appt to leave the car to fix the scratches that I found at the time of sale, have it detailed, and have its first oil change. Since then it has been one issue after another. The car still hasn't been detailed and it started leaking oil after they returned the car to me, and just yesterday the car broke down on me on the freeway and it is not starting. But what has me irate is that when I got my license plate and tags a couple of weeks ago, they are for May and not August. The title dept of the dealer confirm that the car indeed had been previously registered! That means they blatantly lied to me! They have offered to prorate the licensing fee for this year, but that does not compensate me for the depreciation of the vehicle nor the potential resell loss as the second owner. Do I have recourse to unwind?

  29. 29. Mad Marv [ September 25, 2013 @ 12:05PM ]

    It's stories like yours Leilani that make my blood boil! Now, let's look for a remedy.

    To your most serious question which was posed at the end of your comment, the answer is likely not. That is unless they don't get hopping to make you a satisfied customer. This could be done by correcting all the issues you've addressed with them which doesn't seem to be that hard. I mean, were talking about detailing the car, removing the odor, repairing some scratches in addition to the manufacturer's warranty solving the oil leak and unexpected breakdown.

    As far as depreciation goes, you would most certainly have a case to unwind IF the vehicle had already been titled as a new car and subsequently sold to you as New when in fact it was Used. The caveat is UNLESS they were successful when the original sale had been rescinded and the Manufacturer's Statement of Origin (MSO) had been reissued-or other documentation-for them to resell it as a New Car. This can be done in extreme cases in some states but not all. I'm not an expert on state by state titling laws but it could be done in my state.

    In my humble opinion, the dealer would be a fool to present the vehicle as new if the proper documentation had not been acquired to correct the original problem thereby restoring it's value to a new status.

    It looks like some major kissing up is in order on the part of the dealership and a few more free oil changes. IF, and that's a big IF, the dealer can prove the car was new with the proper documentation at the time of sale AND satisfies you with the other issues you've experienced thus far then your legal case might be weak. Now, if they can't prove it then you bought a depreciated car and paid for a new one. You have options at this point. Ask them to unwind and walk away or pay you for the depreciated loss and keep the car.

    This isn't legal advice by any means so if you are still disgruntled after you meet with the General Manager and feel the need for recourse the

  30. 30. Mad Marv [ September 25, 2013 @ 12:07PM ]

    This isn't legal advice by any means so if you are still disgruntled after you meet with the General Manager and feel the need for recourse then seek an attorney.

    I'm so sorry to learn that you experienced such terrible customer service. I sincerely hope a satisfactory resolution can be reached.

  31. 31. Jay [ October 06, 2013 @ 04:16AM ]

    First of all, I would like to thank you for sharing your experience. Hopefully, you can offer me some good advice. Yesterday, I was approved online for a blank check loan through Capital One. Knowing the car I wanted, I went to my local dealer, signed a contract for a 2011 Hyundai Sonata with third party extended warranty included & left a deposit. Dealer will not let me take car off lot until I come back with paystubs as he said it is required by Capital One to complete loan transaction. I'm satisfied with the car so I'm not questioning it's purchase but I am having doubts about the extended warranty. Can I void the extended warranty by asking finance manager to remove it from contract? Please advise as to what options I have.

  32. 32. Mad Marv [ October 06, 2013 @ 04:58AM ]

    Glad you found a car to fit your needs Jay. The short answer to your question is yes. You can cancel the service contract (extended warranty) at any time though I'd recommend you keep it. I have this coverage on my personal cars and enjoy the peace of mind it provides.

  33. 33. Jessica [ October 11, 2013 @ 11:01AM ]

    i traded my 1998 toyota camry plus $875.00 down!! the deal went through and i love my car.. ive had my car since june 22,2013 and made my 1st payment august 5, 2013 i am current on my payments however. the dealership allowed me to pay 1/2 my down payment n set up a payment arragnement for the other half (which wasnt met on my part in july) the bank did an aduit and the dealership could not produce proof of down payment in full to the bank!! i went in and paid the other half od the down paymnet (it was an honest oversite) but because the dealership signed a contract with the bank and was paid n full for my car 3 months ago but lied the bank is unwinding the deal! they were decieved by the dealership so they are refunding me my monthly car payments & they want their mone back from, the dealership!! so my question is what hapens next?? doesnt the dealer have to give me my trade n and downpayment back?

  34. 34. Mad Marv [ October 11, 2013 @ 02:28PM ]

    Yikes! Sorry to hear about this Jessica. I've heard of this before and it's not pleasant but there are alternatives.

    Option-They can return your trade (if they still have it in stock) and any money you remitted as you noted. This would be the easiest solution but they've likely sold your car to someone else. If they sold your old car already then they should be compelled to give you the cash value allowed on the original deal nso that you can replace it.

    Option-Since you've now remitted the full down payment, the dealer can search for another lender to fund the contract and you keep your new car. If this occurs be certain the new documents are dated the day you actually sign them-NOT back dated.

    Option-Since the dealer is the initial creditor, they could actually accept payments and honor the original installment contract though this is unlikely.

    I'm certain they will do whatever is reasonable and make you a happy customer but if you feel as though their offer is unreasonable then I would suggest you seek an attorney for expert legal advice.

  35. 35. Tina [ October 13, 2013 @ 09:56AM ]

    I just bought a new Acura ILX--$10k down with 0.9% financing. The vehicle operates well enough, but I've had it for less than 24 hrs and driving it is causing me extreme back and neck pain. I test drove the car one weekend, and then returned the following weekend to purchase it, and didn't have any problems in the short test drive period. However, after a few hours of driving the car, (and trying to adjust the seat in every way possible), I can't imagine keeping the car considering the amount of discomfort it is causing me. I've looked in the driver's manual, with no special solutions to making the seat more comfortable. Do you think I could return the car for a refund? I'd even be willing to upgrade to another model at this point...but I can't tolerate this pain. On average, when returning a new vehicle, what kinds of charges can one expect to incur? Thanks!

  36. 36. Mad Marv [ October 14, 2013 @ 04:28AM ]

    Hello Tina and thanks for reading. It's possible the dealer would allow you to move to another model with a more comfortable seat. Time is of the essence so you need to make contact with the dealer ASAP. There are a couple of ways to do this. The dealer could charge you a restocking fee and you would also likely have to pay the charges the dealer incurred to title the vehicle and a charge for the miles you drove the car. The dealer could also take your car back as used and trade it for the car of your choice.

    As I've advised many in this thread, be calm and deal with the General Manager. Oh, and one more thing. Take the new car out for several hours in various driving conditons i.e. city/highway/country roads to make certain this doesn't happen again.

    Good Luck!

  37. 37. Ed [ October 16, 2013 @ 10:41AM ]

    I purchased a used vehicle at a small dealership 2 days ago. I have buyers remorse and the dealership has not collected my deposit yet. I REALLY want to return the vehicle. What options do I have?

  38. 38. Mad Marv [ October 16, 2013 @ 01:01PM ]

    Hello Ed. Sorry to learn you're dissatisfied with your purchase. Though your situation is at the discretion of the dealer, you can always ask them to take the car back. If they do you would likely have to pay them restocking and or mileage charges as described above in other responses. Now, if the dealer decides he won't unwind the deal then you will have to pay the deposit/down payment. The dealer might be willing to trade you into another vehicle of your choice and work out a deal that's agreeable for both parties and it's in your best interest to consider this option. I assume the dealer has been forthright in his dealings with you or you wouldn't have taekn delivery of the car in the first place. I feel certain this will have a happy ending and wish you the best here. Good Luck!

  39. 39. Juanita [ October 24, 2013 @ 05:48PM ]

    I leased a vehicle 3 days ago, signed the papers but I had buyers remorse , I didnt like how the dealer treated me so I didnt take the car. The next day I went to a different car dealer where I was treated differently, I found out the first dealer lied to me about my credit, but the second dealer give me a great deal so I sign and drove away that night. I thought i could call the first dealer and cancel the deal since I didnt take the car but they refused, saying I already signed so the car is mine. What can I do
    ? I dont need 2 cars

  40. 40. Mad Marv [ October 25, 2013 @ 03:37AM ]

    You're in an unusual predicament.

    In most instances (I say "most" because I'm NOT an attorney nor offering legal advice) when the documents are signed and executed, the sale is final. The dealer is required to immediately begin the title process. You're now entering the 4th day after signing the first lease and it's very likely those documents have been filed with your county or state and the leasing company has assumed ownership of the lease contract you signed. To further complicate things, your car insurance agent has already bound coverage on the first vehicle as well.

    There are a couple of remedies so let's take a look.

    The first is to return to the original dealership and ask to speak to the General Manager. Next to the owner, this person is THE decision maker. Explain your situation and why you didn't take physical delivery of the car. You might get lucky and persuade the dealership to unwind the deal with certain cost's being passed to you such as restocking/title/registration fees. Gladly pay them and consider the experience a lesson.

    If this fails and the GM elects not to unwind then you can try an attorney to be certain all documents are correctly signed and executed properly. If in fact they are and no loophole can be found to offer you relief from the first lease then you're the lessee/owner of 2 cars.

    You can try selling the car back to the originating dealer but this isn't likely to happen because of the immediate depreciation of a new car and the complicated mess of paying off a lease so soon. You can also try selling it to a friend or another option would be to try an online service such as Swap A Lease Companies like this specialize in working with people desiring to sell their leased vehicle or swap for somone else's lease. There may be other companies like them so do some research if you like.

    Be CERTAIN to make your payments on time until you sell the first car.

    Good Luck!

  41. 41. shay [ December 27, 2013 @ 11:13AM ]

    My name is Shay I purchase a vehicle almost a month ago. Initially the rep told me I had to put down a two thousand dollars to purchase a new vehicle, then he said he was gonna get it where it was going to be 1 thousand. He also said that the only way to get me into a car was that I need to purchase a new car. He also that rebates are given, so I wouldn't have to be negative on the loan. It turns out that I am negative on the loan, and they took a two thousand out any way. I'm not happy with the vehicle nor the deal what can I do?

    Respectfully Submitted

  42. 42. Mad Marv [ December 27, 2013 @ 08:22PM ]

    Sorry to learn about your dissatisfaction, Shay.
    If I understand correctly, you put two thousand down plus any rebate credits and told by the salesperson you wouldn't be in a negative situation once you purchased.

    When you purchase a new car, you will suffer an initial depreciation the same way you would with any other new product you buy. Automobiles are depreciating liabilities and lose their biggest percentage of value during the first few years of ownership. Various factors contribute to how much a car will lose value including miles driven, trim levels chosen, options and color. Yes, I said color. No value guide book such as NADA or Kelly Blue Book will add/subtract for color but the truth is some colors cause a vehicle to depreciate even further.
    What are your options?

    Since you've had the car for a month, all titling and registration actions have likely been completed. You own the car and the lender holds the title. Unless you are able to discover an error in the documentation that amounts to an invalid contract then you'll likely be unable to persuade the dealership to unwind the deal based on what the salesperson said.
    You can trade the car for another that satisfies you but the depreciated loss you'll suffer since the car is not new will likely make it unreasonable.

    Selling to another person may be your best option since the car is relatively new, has low miles and is a current model.

    It's sad that the salesperson was unethical with you by implying you wouldn't suffer depreciated loss based on rebates and two thousand cash down. On the surface it appears an owner would be in great shape with massive rebates however, the truth is the vehicle is immediately depreciated by the very rebates intended to make it attractively priced in the first place. The used car appraiser takes this into account when valuing a current year trade in. Some vehicles retain their value better than others and it's not based on original sales price. Good Luck.

  43. 43. Tom [ December 29, 2013 @ 06:01AM ]

    I purchased a 2014 Ford Explorer on 12/17/13. Within a day, it started throwing error messages about terrain control and traction control system failures. The service folks couldn't figure out the problem, so they went up the ladder to Ford. Even Ford doesn't know what's up - they said that I should keep a log of the failures. I don't think this is right, so I asked the salesman and sales manager to consider letting me return the vehicle and get something else. They don't seem to be crazy about this idea, so I want to know the best way to push them on this if they refuse. While terrain and traction control are not absolutely vital to vehicle function, I do live in a far northern climate where those options are important to me. Considering it's a new car, I feel like I shouldn't have to deal with anything like that (at least in the first few months). Thanks in advance for your thoughts and advice!!

  44. 44. Nick [ December 29, 2013 @ 07:01AM ]

    Hi, I purchased a Certified Used 2012 Honda Accord on Saturday evening at around 8:30 pm. That was yesterday. I am having buyers remorse and I want to return the car. I have signed the contract and taken vehicle out but my house is only 2 miles away from dealer. I purchased the car on financing, but there was a 3000$ downpayment which I have NOT paid yet, and I am supposed to pay it by Wednesday. Can I return the car on Monday morning as soon as dealership store opens and back out of deal? What are my options?

  45. 45. Mad Marv [ December 29, 2013 @ 12:06PM ]

    Tom, part of the reason the dealer is unwilling to take the vehicle back is it's already been titled and the problem is a manufacturer defect. If the dealer can't soon rectify the problem then your recourse may be found in the state's Lemon Law provisions. You should've been given a copy at the time of sale but if not, then obtain a copy and read it. Under these provisions, the manufacturer has a limited time-based on state by state lemon laws-to correct certain issues or buy the vehicle back from you.

  46. 46. Mad Marv [ December 29, 2013 @ 12:31PM ]

    Sorry to learn about this Nick.

    Unless some documentation has an error that makes it an invalid sale such as the numbers not jibing then you may not have any legal recourse to return the car. Even though you still haven't remitted the down payment, refusing to do so could cause legal action against you. However, all may not be lost. I would simply return tomorrow morning and calmly ask to speak to General Manager to see what he is willing to do. I can tell you that if you're interested in another car they have in stock, they may be a lot more agreeable. One of the signature lines you signed clearly says "NO COOLING OFF PERIOD" in bold text. It goes on with "State law does not provide for a "cooling off" or cancellation period for this sale. After you sign this contract you may only cancel it if the seller agrees or for legal cause." Clearly the dealer has the power to unwind the sale and he may allow it but is under no legal obligation to do so which is why I suggest calm resolve and a simple explanation as to your buyer's remorse. This isn't legal advice, rather I'm just pointing out the obvious.

    Good Luck, and I hope everything goes well.

  47. 47. Nick [ December 29, 2013 @ 01:30PM ]

    Thank you for your advice. I think the dealer applied for my loan Online on Capital One. Is it possible to call Capital One and stop the loan? Because as I understand my Autoloan was approved yesterday spontaneously so it should be via a computerized approval and they are yet to verify information. Is calling capital one and asking them I dont need car loan an option?

  48. 48. Mad Marv [ December 29, 2013 @ 04:07PM ]

    Not really. Let me explain the process a little bit.

    First the dealer is not only the Seller-as listed at the top of the installment contract you signed-but is also the originating creditor. In essence the dealer is considered the initial lender. The dealer sends your application for credit on the chosen car to a potential lender (bank) for approval. That initial offer the dealer makes to you is based on the terms under which the lender will buy the contract from the dealer. Since the lender and dealer have a written agreement, the lender is compelled to purchase the contract from the dealer if everything is in order. So, unless there is some legal reason the contract can't be honored by the lender then you'll have to deal with the dealership to resolve your problem.

    You may be pleasantly surprised.

  49. 49. Nick [ December 30, 2013 @ 12:33PM ]

    Thanks for your useful advice. I did as u suggested and went and talked with car dealer and they unwinded the deal without forcing me to buy another car from them. however, considering how good they were, I might end up buying car with them, though ofcourse I will be careful next time not to sign until I am sure of it and I give enough time to think over it. Lesson learned the hard way..

  50. 50. Mad Marv [ December 30, 2013 @ 12:44PM ]

    Sounds like a good place to buy a car. Glad it worked out for you.

  51. 51. Marianna [ January 03, 2014 @ 12:44PM ]

    I purchased a brand new car 2 weeks ago and have had issues with the body. The first car had damage and they took it before it left the lot. The 2nd car had damage to the molding and a part was missing, which they replaced but one of the issues was embedded grime in the paint job. This, they removed with clay barring. The car now has spider web scratches and they have again offered to fix it by polishing it. I am not happy with their services and was wondering if I can break my contract?

  52. 52. Mad Marv [ January 04, 2014 @ 12:36PM ]

    Sorry to learn about your difficulties, Marianna.

    Paint and finish issues are painful and irritating especially on a new car. I sympathize with you.

    You purchased a NEW car in mint condition and should get what you paid for regardless if it was financed. Clay is an effective method of removing paint imperfections when done right though it sounds like some further work has yet to be done to correct this. Unfortunately, two weeks have passed and the car is already titled/registered. It's unlikely you'll be able to persuade the dealer to unwind though there may be other remedies to make you a happy customer.

    Allow them one more chance to correct the problem. If they cannot satisfy you then contact the manufacturer. You should find the contact info in your owner's manual. Calmly explain the issue and lack of confidence you have in the selling dealer. They may direct you to another dealer close by which can correct the problem though it may result in repainting the affected area.

    I'm confident the manufacturer will do the right thing. Good Luck!

  53. 53. Terri [ January 06, 2014 @ 05:28PM ]

    Last week my 24 year-old-daughter purchased two (2) 2014 cars, one for herself and a friend. She earns about $40,000 a year, has a very decent credit score, but there is no way she can pay the monthly bill for two cars (the friend has no income, both cars are in my daughter's name). My daughter is now experiencing "buyer's remorse" of course! Do you know the income guideline to get $60,000 worth of cars, all financed - she put $200 down? She hasnt received final approval from the dealer's finance manager yet (and I have no idea what banks/lender they work with). The dealership is supposed to contact my daughter in a few days with the details. In the meantime she does not drive the cars- they sit parked, but she has the keys to both cars. Thanks for any advice you can give us for unwinding this deal.

  54. 54. Mad Marv [ January 06, 2014 @ 06:52PM ]

    I'm so disturbed to learn about your daughter's dilemma.

    To the facts.
    $60K equals roughly $1100 in monthly payments on a 6 year note at 3.5% which is what good credit should yield in this situation. There are a variety of factors a lender (bank) considers when an application comes in for approval. The basics are the Three C's. The three C's are Character, Capacity and Capital. Character refers to how well you have paid your bills in the past. Capacity refers to your debt to income ratio. Capital is the assets you have to pay for your debt. I find it a little disturbing that a lender would finance both vehicles considering the payments for these cars amount to a third of her monthly gross income which is a pretty high though I've seen worse.

    It's likely the dealership submitted the deals to two different lenders without either of them knowledgeable the customer was trying to buy two cars else they would’ve limited the deal to one car. The dealership is aware the customer has likely over extended themselves however, if the customer insists on buying more than they can reasonably afford then it isn't up to them to counsel the customer against doing so. Unfortunately, this situation doesn't carry the same legal burden a bartender has when he observes a patron has gone too far when drinking by refusing more drinks.

    Just because the dealer may not have assigned (sold) the loans to a bank yet doesn't free your daughter from the obligation since the dealer is the originating creditor as mentioned in prior postings here and has the legal ability to collect the note themselves if they choose.

    Time is of the essence and it's likely too much of it has already passed. Titling and registration has likely already occurred but it wouldn't hurt for her to approach the dealership's General Manager and explain her mistake to see if he will be willing to unwind one of the deals. Good Luck.

  55. 55. jb [ February 11, 2014 @ 02:34PM ]

    I had a dealer unwind the contract due to funding issues and yake back the sold vehicle keep the trade and is now demanding the equity be refunded what are my rights as I went into this with a car and now have nothing

  56. 56. Mad Marv [ February 11, 2014 @ 09:18PM ]

    While you may have signed an immediate delivery agreement outlining certain restrictions that could have given the dealer reason to rescind the sale and repossess the car, your trade should have been returned to you.

    I'm not a legal expert nor an attorney but I suggest you hire one. Make certain you bring all the documents you were given at delivery to the meeting. If someone accompanied you when you bought the car, it would be great to provide that person's information to the attorney as well.

    Good Luck.

  57. 57. kami [ February 22, 2014 @ 08:12PM ]

    Hi Mad Marv, Can I cancel my new car deal and receive my 1000$ deposit back? its was late night time and my sale person and managers said this deal only for tonight and we'll not give to u that deal if you comeback some other time. so paper work done at that night but i found same price better cars available in market i try to cancel my deal but he said you already bought a new car so there no Return, but that CAR still in showroom's display. i heard about "Unwinding a Deal," or cooling off, please let me know what is best way for cancel that deal and how i will i get my money back. thanks

  58. 58. Mad Marv [ February 23, 2014 @ 05:11AM ]

    Hi Kami. Sorry to hear about your troubles.
    Unfortunately, unless some legal misstep exists in the documentation that is serious enough to warrant the deal being rescinded, it sounds like you own the car. There is clear and bold language on one of the signature lines of the finance contract stating "No cooling off period". Buyer's remorse is not uncommon as evidenced by the many discussions on the internet regarding car purchases because there are so many choices out there and prices as well.

    I would meet with the General Manager and show him some of the competitive prices you found on the same model and ask if he would be willing to refund you the difference. He probably won't but it's worth a try. In any event, they should've already prepped your car for delivery. I'm certain this car is the one you researched and want or you wouldn't have made the decision to buy it. The worst case scenario is the dealership won't refund any difference or unwind the deal. Consider the difference of the price spread over the many years you will own the car and it probably doesn't translate to a huge difference. Hop in your new ride and enjoy it!

    Hope this helps.

  59. 59. kami [ February 23, 2014 @ 03:51PM ]

    thanks for replay i just talk with my sale person he will change my car with other model and now this time im going with Lease hopefully going save some $. i found in dealer web side 7days Ex-change policy now this is good sign

  60. 60. Cindy [ March 15, 2014 @ 10:06PM ]

    Hi Mad Marv, Can I make the dealership unwind my car deal? I have the buyer's remorse. Okay, I live in Oregon, went to a very reputable local Toyota dealership last week. I have a 2005 Scion that was paid off and I held the title. I think I panicked when I had to have the water pump replaced and thru the dealership had them do the work. Then all of a sudden, the sunroof stopped working 1 day after that. Go figure! I totally panicked and thought I better get into another vehicle now while my car is still going to give me value as a trade-in. This was 2 days ago. I ended up buying a 2014 new Scion, traded in my car, $2500 cash & went home with my new car. Before I finished up at the dealership, I was already having buyer's remorse and that night didn't sleep a wink. Family members helped me realize I was acting impulsively and my car mechanically could get me by for many more years. Only 68K miles on it. Well, I laid awake panicking but thought I'll just talk to the dealership in the morning. I talked to the sales manager and he said there's no way they can unwind the deal because as soon as I drove the car out the dealership, it's considered a used vehicle. He also said everything is automated on-line and everything submitted to the DMV for titling, etc. He was polite but I could tell he had no sympathy for me.

    Here's where maybe you can help me...Just today I realized the salesman that helped me forgot to put a temporary license plate on the back of the car. So, I'm technically driving with no plate and I'm afraid the police are going to stop me. Can I make the dealership un-wind the deal because of this mistake?

  61. 61. Cindy [ March 15, 2014 @ 10:25PM ]

    Hi Mad Marv,

    Can I make the dealership unwind my car deal? I have the buyer's remorse scenario.

    Okay, I live in Oregon, went to a very reputable local Toyota dlrship last week.I have a 2005 Scion that was paid off and I held the title. I think I panicked when I had to have the water pump replaced and thru the dlrship had them do the work. Then 1 day later, the sunroof stopped working, they estimated to fix it would be $1800. So I’m thinking I better get into another veh now while my car is still going to give me value as a trade-in.

    This was 2 days ago. I ended up buying a 2014 new Scion, traded in my car, $2500 cash & went home with my new car. Before I finished up at the dealership, I was already having buyer's remorse and that night didn't sleep a wink. Family members helped me realize I was acting impulsively and my car mechanically could get me by for many more yrs & with only 68K miles driven. Well, I laid awake panicking realizing there’s no way I can afford this car pyt. Clld sales mgr and he said there's NO way they'll unwind the deal cause as soon as I drove the car out the dlrship, it's considered a used veh. He also said everything is instantly submitted to the DMV for titling, etc. He was polite but I could tell he had no sympathy for me.

    Here's where maybe you can help me...Just today I realized the sales guy that helped me forgot to put a temp license plate on the back of the car. So, I'm technically driving with no plate and I'm afraid the police are going to stop me. Can I make the dlr un-wind the deal cause of this mistake? I have an appt t/see him tomorrow a.m. to try & re-write a retail deal w/out the mech breakdown warr. could he try get one of the sales guys plate it while I'm talking to him in the office? If I can make the dealer unwind the deal because no plate, what should I do?

  62. 62. Mad Marv [ March 16, 2014 @ 08:04PM ]

    Sorry to hear about your troubles.
    Unfortunately the temp tag issue probably isn't reason enough to unwind the deal. The dealer is responsible to title the vehicle in a timely manner and I'm certain they already have begun that procedure. The verbiage at the botom of the contract is clear and in bold type "NO COOLING OFF PERIOD". You could simply ask them to unwind but I doubt they will. You mention you're going to recontract the deal without the "mech breakdown warr". I would advise keeping that product especially if it is an exclusionary type program similar to the factory coverage. Hopefully all will work out and you'll leave happy.

    Good Luck.

  63. 63. Cindy [ March 17, 2014 @ 09:43PM ]

    Yesterday I went back to the dealership and they re-wrote the retail contract, omitting the extended warranty, which slightly lowered the monthly payment. I have gone over the contract and see nothing about a no cooling off period, but I'm sure it's there. Maybe in the fine print on the reverse side. Found out they're selling my car for $11K and they would only give me $2500 for the trade-in. What I've learned from this is, to sleep on it before making any big decisions in the future. I'm done hitting myself over the head about this. I'm going to start enjoying my new car. Thanks for your help! :)

  64. 64. Amanda [ April 25, 2014 @ 07:30PM ]

    Thanks for the information in this article--I am more informed now than I was previously. I would love insight on my problem.

    About six weeks ago, I bought a certified pre-owned 2001 Chevy Cruze for approximately $14,500 from a small-town dealer where I grew up. The same week after driving it the 100 miles back home, the transmission started acting up, jerking the car at all speeds and acting as though it were downshifting too soon when slowing down, braking via engine rather than brake pads. I took it to a local dealership's repair shop, but they could neither reproduce the problem nor bring up any error codes and so sent me on my way. The problem then became worse, so I made an appointment with the shop at the dealership I bought it at, then had to have it towed up there after the transmission gave out the following week. During this time, there was an awful smell I thought was simply from chemicals used to clean the interior, but as the a/c stopped working during this time, I now suspect there was a related fluid leak causing the smell. The dealership fixed the transmission by replacing the solenoid, but now it drives as though the transmission is having trouble again and starting to repeat what happened before.

    I asked about the car's history when picking it up from the shop after they fixed the transmission because it seemed odd that it would break down that much right after it was given a certification inspection, and the printout had a harrowing list of recalls and repairs. The deal I would like to make is to trade it in or get a refund for the full purchase price, to be applied towards a certified 2011 Malibu from their lot. I simply do not feel any confidence or safety in the Cruze and would not have purchased it had I known its history.

    The general manager hasn't made any promises, but I'm meeting with him soon to talk and make the deal if we can agree on something reasonable. Can you offer any advice on how I should proceed from this point on? Thanks!

  65. 65. Amanda [ April 25, 2014 @ 07:35PM ]

    Oh gosh, I'm sorry--that should read 2011 Chevy Cruze.

  66. 66. Amanda [ April 25, 2014 @ 08:10PM ]

    Also, maybe I should mention that this is not a case of buyer's remorse... I was absolutely thrilled with that Cruze when I bought it; it has a turbo engine that can really make it go and it had 42k miles on it. When I purchased it, it was with a $500 trade-in and $3,000 cash down. The Malibu has 25K miles and is selling for $16,990.

  67. 67. Mad Marv [ April 26, 2014 @ 07:18AM ]

    Good morning, Amanda and thanks for offering your experience.

    I believe you've already learned a valuable lesson that you should ask for the vehicle history report before you buy next time as I'm certain you will with the Malibu. Auto History Reports offered by companies like CarFax and Experian's AutoCheck go to great lengths to uncover collision damage and recalls but don't usually contain information about repairs or problems. This is where a new car franchised dealer can help. They have access to internal data from the manufacturer if the car experienced any repairs under the factory warranty and if the car was serviced at a particular dealership, they may also have records there as well. In any event, it pays to have a used vehicle inspected by an independant facility especially one that is out of factory warranty.

    A word about used car certifications. A trustworthy dealership (yeah, I know some readers are laughing at the notion) will go to great lengths to make certain the vehicle is in great running condition before it's even offered for sale. It only makes good sense for the dealer to offer a trouble free car because his repeat business depends on a good reputation. Plus, the extended service contract companies the dealer offers for sale demand the car be as trouble free as reasonably possible at the time of sale. Kind of like a physical when you buy health insurance.

    In light of your circumstances, I would ask to drive the car for a day or so before finalizing the deal. Sounds like the selling dealer is willing to help so I'd stick with them at the moment. No car is perfect which is why I always recommend buying an extended service contract. I always buy these programs on my personal cars because I love the peace of mind.

    Good Luck, it sounds like you're on your way to solving your problem.

  68. 68. Angela [ April 30, 2014 @ 11:22PM ]

    Hi, I bought an 06 Kia spectra on 4/21 from a Fiat dealer in NJ. I traded in my 97 Chevy Cavalier (after being pressured into trading it in) and paid the rest in cash. I test drove it with the salesman and drove it to my mechanic who checked it out, found nothing on complaint. It was bought as-is warranty by the way. By Day 3 of having the car it started idling rough, the engine would rev while in park or at a stop light and sometimes so violently it would get over 3000 RPMS. while I'm sitting at a red light. I'm terrified its going to just go despite my foot on the brake and either hit a car or a pedestrian or drive me into oncoming traffic. By Day 5 the car stalled out, it has done this 2x already. And the idling/throttle issue has been intermittent. I took it into the dealer this morning and they checked it out for me and ended up replacing some spark plugs and cleaning my throttle body. The problem is still persisting. I'm afraid to drive it and I just want to be rid of it because I even called Kia and explained the situation and they have no idea what it could be and the Fiat dealer admitted they didn't know what it could be. Is there anything that I can do???

  69. 69. Anthony [ May 02, 2014 @ 02:58AM ]

    I purchased a certified pre owned 2010 Subaru Forester (with an extended warranty). I am not experiencing buyers remorse, I actually love the car. About a week and a half after I purchased the windshield leaked during the first rain after I picked it up. The water soaked into the headliner, ran in the dome lights and moonroof switch and dripped into the shifter mechanism. I called the dealer right away and made an appointment to have it all fixed. My concern is that the water damage (electrical problems and mold?) won't cause me any problems until after my warranty expires. I plan to talk to the manager and ask if there is any way he would unwind the deal and sell me a 2014 even if does cost a little extra for me. Do you feel this is feasible or am I overreaching? Thanks in advance!

  70. 70. Mad Marv [ May 03, 2014 @ 03:59AM ]

    Good Morning, Angela.

    Sorry to learn about your troubles. Nothing more irritating than purchasing a car and having troubles right away. I would take the car to a Kia dealership and have them check it out. They're the most familiar with it so they will be your best shot at solving the problem. The problem may be easier to fix than you think. It's unlikely the dealer where you bought the from would unwind the purchase especially after you took it to a trusted third party to be checked though they probably would be glad to trade you out of it into another car.
    Good Luck!

  71. 71. Mad Marv [ May 03, 2014 @ 04:14AM ]

    Good Morning, Anthony.

    Ugh, water leaks are always frustrating and I feel your pain. Part of the reason the dealer might not unwind the deal is the time period you've owned the car. As discussed in some of the earlier posts in this column, titling and registration has already occurred which makes it very difficult to unwind though not impossible. It is a stretch but if you want to give it a go with the General Manager then by all means. At the very least he should be willing to trade you for the 2014 model at a minimum of expense. Here's hoping for a positive outcome.

    Good Luck!

  72. 72. Lakerman [ May 31, 2014 @ 06:19PM ]

    I must say great article. Yesterday I traded in my old vehicle and purchased & signed papers for brand new vehicle from a major dealership in NC. The next morning not even 24 hour I returned the vehicle (what a hassle) the dealer agreed to take back the new vehicle & give me back my old vehicle. I called the auto loan company to see if everything was finalize (she said they only have my application and no other paper work) and to tell them what happen, the customer service rep. said over the phone that she will put a notice on my application/file. I also drove back to the same dealership later today and saw it in person & online that the vehicle was back on the market. My question is do you think the dealer submit the paper work and try to get the money from loan company, also do you think I will be charge by the loan company for my loan if I signed all the papers, returned the new vehicle and gave the dealership gave me back my trad/my old vehicle? (One more thing I must add the Finance Manager also told me he would try the next day (today) to see if he could get me a better rate with another lender so I could a better extended auto warranty plan so it wouldn't make my monthly payments go up which makes me think the deal was not finalized. Thanks Lakerman

  73. 73. Lakerman [ May 31, 2014 @ 07:14PM ]

    I also should have stated that vehicle was back on the market as a brand new vehicle.

  74. 74. Mad Marv [ June 01, 2014 @ 11:07AM ]


    Sorry to hear you were dissatisfied with the transaction and even more pleased to learn you dealt with a reputable dealership.

    To be clear, the dealership is the originating creditor which is why their name is at the top of the contract. The offer of credit from them is based on the conditional approval from a sales finance company (bank or lender) that agrees to purchase the contract from the dealer if those conditons are met i.e. APR, loan length, down payment etc. This is why the lender told you they only had your application because the contract documentation was still in the possession of the dealer. Keep in mind that the dealer has the legal right to follow through with the contract assignment to the lender if they so choose but since they agreed to unwind the deal and return your trade, the deal is considered null and void. The reason the vehicle is still listed as new is because registration and titling didn't occur due to short time you had possession of it. They simply restored it to inventory.

    I feel certain this dealership wants to make you a happy customer and will do what they can to accomplish that. Perhaps a better offer will make you feel more confident so allow them a day or so to do that. Note-not every dealer would have unwound the deal so if you're still wanting to trade I would STRONGLY urge you to do business with them.

    Good Luck!

  75. 75. Lakerman [ June 01, 2014 @ 02:04PM ]

    Thanks for answering my question. I will keep you updated to see if the dealer followed through with the contract.

  76. 76. Lashawn [ June 03, 2014 @ 05:55PM ]

    Hello Marv. I cosigned on a 2008 Honda for my son so that he could establish some credit, and I wouldn't have to take him everywhere After leaving the dealership I noticed that the bill of sale had my sons last name wrong, and they never collected the paycheck stubbs. I called them back and they set up for us to come back in the next day. We went in and signed the bill of sale with the corrected last name, but we all forgot about the stubbs. They called me the next day to bring them the stubbs. Low and behold, my son lost his job and I didn't want to pay the car note so I called them to tell them the situation. The used car manager is supposed to be calling me back to work something out. My question is, being that I could qualify for the car on my own will they try to make me keep the car? The bank required check stubbs as part of the approval, and if I don't furnish them then no approval correct? Also, will I lose my down payment? Please help!

  77. 77. Mad Marv [ June 04, 2014 @ 05:02AM ]

    Sorry to learn about your son's job loss. I'm certain he will find a better one soon.

    As I mentioned in other responses in this article, the Dealer is the originating creditor and owns the contract until they assign (sell) it to a lender. The paycheck stubs are a requirement of the lender they've chosen and should have been collected prior to signing the documents to ensure the income was acceptable. Some lenders call to check job statuses after receiving the loan documents from the dealer so it would not only be unwise of the dealer to submit the contract (provided they have the pay stubs) it would also be unethical. The dealer could also resubmit your loan application to a lender that doesn't require income proof but since they now have knowledge your son is unemployed, it would be a violation of the agreement between the lender and dealer to say that he is employed. I won't delve into the legal ramifications of this action because I'm no expert in this area.

    I do not think the dealer would be so unethical as to do this so it sounds like you may have the option of unwinding this deal since the lender requirement can't be satisfied. There is no reason the dealer should refuse to return your down payment.

    Now, if you have confidence your son will have a job soon and still want to keep the car then ask the finance office to resubmit the application to a lender listing your son as unemployed along with yourself as cosignor and see if it can get approved that way. I'm certain his job situation is temporary and he's going to need that transportation so give this option some thought.

    Good Luck!

  78. 78. Evan [ June 06, 2014 @ 04:56PM ]

    Hey Marv I have a question. I was shopping around for used trucks and I settled on one I liked and took it home. The thing is there were a few things wrong with it when I took it and the dealership agreed to take it in and have it looked at. Turns out the crankshaft was bad so they agreed to fix it a no charge. Here's where it gets interesting. A salesman at a different dealership that we are personal friends with called me about a different truck that he just got in and asked if I was interested. I've had the original truck for 5 days and have not paid the down payment as of yet and was told I can unwind the deal and go with the other truck. Is this true since I have not paid said down payment or given them my paystub as they requested???

    Thanks for any help!!!

  79. 79. Mad Marv [ June 07, 2014 @ 04:12AM ]

    The income proof is a requirement of the lender they will be selling the contract to and without it they will be holding the note since they are the originating creditor. If the dealer chooses, they can hold you to the contract terms and collect payments themselves. This is unlikely since the dealer depends on cash flow and isn't a bank. Then there is the matter of your unremitted down payment.

    Now, the dealer appears to be honest and eager to keep you as a customer by repairing a pretty expensive problem since it's likely your truck is out of factory warranty. And what guarantee do you have that the truck your friend has called you about is better? Would his dealership pay for such an expensive repair right after delivery? I would give some weight to this in deciding what to do.

    Good Luck!

  80. 80. Mike Bouch [ June 16, 2014 @ 10:25PM ]

    I bought a car about 2 months ago, I have recently discovered that the warranty is void because the vehicle has been Re-Vinned. This was not disclosed to me before the purchase. I called the dealership and they sent me the original VIN. The warranty still wont cover anything. After some more digging around I found out the vehicle is actually a Quebec original vehicle when I was told it was an Alberta original vehicle. I live in B.C.. I have had nothing but problems since I bought the Truck and nothing is covered now. If I had known from the get go that it was from Quebec I would have never signed the papers. The original papers said did not mention it was re Vinned, when I came to pick the Truck up 1 week after I had bought it the dealer pressured me into signing a new contract that then stated the vehicle had been re vinned.
    Do I have a case to un wind the vehicle?

  81. 81. Ginny [ June 17, 2014 @ 12:22AM ]

    I tried sending you an email with my story but it won't send. Maybe it's too long. Can you please email me back so I can explain to you my situation? I want to cancel a very bad car deal and need advice. Please help. Thank you.

  82. 82. Mad Marv [ June 17, 2014 @ 07:14AM ]

    Ginny-The comment section here is limited to 2000 characters. If you cannot shorten it to accomodate your story then email me direct at [email protected] and I will answer you back both here and direct.

  83. 83. Mad Marv [ June 18, 2014 @ 02:37PM ]

    Sorry for the delay, Mike. I had to do some research about "re-vinning", as it is an unheard of practice here in the U.S., before offering you an answer.

    I consulted with several colleagues who are familiar with Canadian auto transactions and was advised that the only instance a vehicle would be re-vinned is if it has been stolen and written off as a loss then later found. This would seem reasonable, I suppose, if the title had been declared dead. There may be other instances so don't hold me to that single reason. Whatever the reason, it appears something major occurred to cause such a drastic action.

    The likely reason you were asked to sign a contract stating the VIN had been reissued was a condition of the lender so they're covered. Even though there seems to be some misrepresentation on the part of the dealer, at least from the outset, they did reveal it at the end and asked you to re-sign at which point you could have refused and walked away due to the revelation of that knowledge. If you cannot persuade the dealer to reconsider and unwind the purchase then you might want to consult an attorney and or the Motor Vehicle Sales Authority of BC. I'm told they regulate and license all dealers in that province.

    Good Luck!

  84. 84. Elaine [ June 22, 2014 @ 08:19AM ]

    Hi we just went to a dealership today signed documents and contracts and we didn't have the car yet the dealership still have it. Can we cancel the contract since it shows on their flyer we have 72 hours to change if were not happy with the purchase. We put a down of $1500 and wrote a check for $3500. The montly payment is really too high now that were home we realized its out of our budget. Please advise thanks

  85. 85. Paul Haynes [ June 22, 2014 @ 10:03AM ]

    Hello I recently traded in my truck for a Mustang and the truck has been paid off and sold by the dealer but after almost 3 months the finance company has still not financed my car due to neglect of getting the proper paperwork to them promptly from the dealer and now my job status has changed lowering my income. I have received over 5 rejection of credit letters from this lender even after being told it was financed and have even signed twice on the car and I put $2500 cash down. Can I retract my decision on this car and get my down payment back?

  86. 86. Mad Marv [ June 23, 2014 @ 03:37AM ]

    Hi, Elaine. Sorry you're dissatified after so much research and time investment.
    Some dealers advertise like this so the best way to find out is put their advertisement to the test. Now, there may be some conditions in the fine print so don't be surprised to learn that buyer's remorse isn't allowed as reason to unwind the deal.

    Good Luck!

  87. 87. Mad Marv [ June 23, 2014 @ 03:54AM ]

    Hello, Paul. Hate to see this happening to you.
    Three months to get the documentation correct seems like a long time. I advise you to pay a visit to the General Manager and make your case. Surely he is aware the lender has not funded the contract to the dealer. As I've reminded others about the subject of unwinding a car deal, the dealer has sole discretion in most cases. However, something asppears to have gone awry in your case and a face to face meeting will likely reveal what it is so this problem can be solved.

    If you don't get satisfaction after that meeting then you might want to contact an attorney to help.
    Good Luck!

  88. 88. Steve H. [ June 27, 2014 @ 07:49PM ]

    Marv, thanks for your page. I will try to be concise. I leased a new vehicle from a manufacturer’s dealer recently. I worked out a decent price for the vehicle but the FI guy packed my payment with everything he had. I signed the papers with him late at night without reviewing very closely what I was signing - a VERY bad decision that I regret. I resolved to live with the deal in spite of my mistake. About three weeks later he calls me back and asks me to come in and re-sign a new lease because he did not charge me enough sales tax. I refused to sign a new lease as I was not about to make the same mistake twice. This escalated until I went in to the GM and offered to buy the vehicle strait up with my own financing (which I had secured before meeting with him). He agreed and gave me a very nice deal on the vehicle (about 20% below sticker). During this deal I asked him about the lease I had signed and he told me that it was void, like it had never existed.

    I purchased the vehicle at that time and have been happy for the last four weeks or so. Well, I just got another call from the dealer asking me to come in and sign cancellation forms for the warranty add-ons I signed the night of the leasing. I was under the impression that those add-ons had ceased to exist with the lease agreement, as per the GMs comment. So this is my question, since I own the vehicle now and have paid for it in full (with my loan) if I go in and sign these cancellation forms will the dealer try to charge me a prorated fee for the cancellation (It has been almost 60 days since I signed them)? I feel like I am being a bit paranoid, but during my lease experience they tried to pull EVERY trick in the book on me. I feel like this is just another ploy to get some cash out of me.

    Thanks Marv!! -Steve

  89. 89. Mad Marv [ June 28, 2014 @ 11:16AM ]

    Since the original deal was rescinded due to you financing it instead of going through with the lease then the related product enrollment forms (extended service contract and or maintenance programs) would be invalid as well. The likely reason the dealership is asking you to sign the cancellation forms is because they probably submitted the coverage to the respective insurance companies and now want to recover their cost's. There is usually a cancellation fee when this is done but since you financed it and didn't buy those coverage's they should be able to notate that on their cancellation forms and get their refunds.

    As I've advised others here, the service contract is a terrific program. Even though the F&I manager did a terrible job, I would suggest you reconsider it especially since you've now purchased the car instead of leasing and may keep it longer than the three year period wherein the vehicle is under warranty.

    Hope this helps.
    Good Luck!

  90. 90. JEM [ June 30, 2014 @ 11:13AM ]

    I bought a new 2014 vehicle the evening of 6/26. Next morning, no a/c and rattling under hood. Took car into service first thing the morning of 6/28 and was told it needed a new compressor. I'm not anticipating any problems but if I feel all is not well when I pick up the car tomorrow, is there any recourse, like voiding the entire sale?

  91. 91. Mad Marv [ June 30, 2014 @ 01:24PM ]

    Hello, JEM. Sorry to hear about your A/C problem and hope all comes out okay.

    Unfortunately cars are mass produced and quite often manufacturers outsource some of the parts. These companies are ever pressed with slim margins and on occasion quality control can suffer. I'm quite certain the replacement parts and associated labor to repair your new car will be satisfactory. As I've mentioned before, dealers invest heavily to make certain you're happy because their livelihood depends on repeat business.

    As far as recourse goes, you do have a factory warranty which will pay for this problem and any subsequent issues. Asking the dealer to unwind because of an A/C issue might be jumping the gun a bit. I've seen far worse. Hopefully, you won't experience any more difficulties and your ownership experience will be pleasurable going forward though I do recommend considering the available vehicle service contract if you plan to keep the car past the factory bumper-to-bumper period.

    Good Luck!

  92. 92. Kyle [ July 04, 2014 @ 11:17AM ]

    Great article! Thanks for this Hope! My parents recently got a raw deal on a Nissan Sentra. I want them to unwind it or AT least renegotiate the price. They were over charged approximately $1200 in total cost over 3-years from TeddyNissan based on the dealers current and available specials for this month. (July 2014). Do you think this is possible? They could have purchased an Altima for the price they paid!

  93. 93. Kyle [ July 04, 2014 @ 11:17AM ]

    This happened yesterday, I should add.

  94. 94. Mad Marv [ July 04, 2014 @ 08:09PM ]

    Sorry to hear about your parents deal. I trust they love the car in spite of the problem you described here.

    Gather the advertisements from whichever media format the dealership used and make certain it aligns with the vehicle price and trim level your parents bought. Bear in mind that sometimes dealers will advertise one particular vehicle clearly identifying it even to the point of a stock number. Special pricing is usually only available for this advertised car. If a customer chooses another trim level or one that has a different option package then the discounts may not apply.

    Meet with the General Manager to discuss your concerns. I'm certain he will be willing to open the deal and do the right thing.

    Good Luck!

  95. 95. Birthday Joe [ July 07, 2014 @ 01:23AM ]


    Hi. Thanks for your input in theses matters dealing with car deals and dissatisfied customers.
    My scenario is one of of low buying power and bringing that upfront to salesperson from the onset.

    I was last customer in dealer signing away and promised to get my USAA insurance transferred to the new to me vehicle.
    I drove away with the newly acquired vehicle 2008 80,000 miles Japanese vehicle and was happy to have a new set of wheels with a whole lot more miles to drive then my olde vehicle that had over 200, 000 miles on it. I was aware I had a monthly payment for many months to come but okay with it since I was starting to pay for repairs almost monthly on the other vehicle.

    Here's the problem, after driving the new to me vehicle for 300 miles it started shaking and check engine light came on. it appeared there was a misfire from one of the injectors. i took it to dealer service after leaving a phone message and arrived 30 minutes before closing. They didn't have time to look at it but at least put a code reader on it and verified in fact there was a misfire. I made an appointment for a look over for today and left a message with salesperson that i would rather go for another Japanese car on the lot since this is not a good start. I mean another car from the lot within same parameters, Do you think that is doable?

  96. 96. Mad Marv [ July 07, 2014 @ 07:25AM ]

    Hi, Joe and thanks for reading.

    Absolutely! I believe the dealer would accomodate your wish to buy another car instead of the one you now have. Bear in mind that if they do unwind the purchase, there may be some cost's to you but they should minimal. The dealer may also decide to trade you into the car of your choice instead of unwinding the sale. This is at his discretion. Remember that titling has already occurred and it may pose too much of a problem for the dealer so weigh your options and then decide what works for you. I'm certain you'll be satisfied and become a happy customer.

    Good Luck!

  97. 97. AnnR [ July 07, 2014 @ 05:55PM ]

    Well I just found out why I was not believing that I never got my promised discount on my
    New 2014 Pilot. They priced it as if I were getting the 2015 that I test drove. I had to insist on every piece of paper we negotiated on. It was very stressful and I had haggled for two days. Finally the finance office and the sales person concede the charge is for the wrong SUV, but they have to wait until tomorrow to let the sales manager look at it and see what can be done. Can I unwind the deal without loss of very good credit?? They did put my discount on the pricier vehicle so I was paying for the 15 but was given the 14.
    Is that fraud or a mistake. It has made me not want the vehicle anymore and never want new again. They make you wait forever. They stick all these papers in front of you and you think it is part of the process. They throw them into financing and wow you have a big big payment and there goes your discount.
    Thanks. If I can get out of this let me know!
    I've read if you rewind it ruins your credit for
    7 years. I need something but not something that pricy and big with very little new technology on it, may as well have reliable used. I went in there because my car happened to run white smoke hot right at their service entrance. I was waiting told them I was interested in used so here I am.
    Switcher to new, stressed and feeling not so smart!!!

  98. 98. Mad Marv [ July 08, 2014 @ 04:01AM ]

    Hello, Ann. So sorry to hear about your troubles.

    First off, unwinding a deal won't have any negative impact on your credit so don't be stressed about that.

    Fraud doesn't immediately come to mind after I've read your inquiry. It sounds like a colossal mistake has occurred and I'm certain the dealer is scrambling to correct it. I've been in the midst of deliveries like this before and it's a mess to correct documentation wise but it must be done. If the documents are correct but for the wrong car then you should have the option to take the car described in the documents or have them unwind altogether and choose something else.

    It's natural to be stressed when we are involved in situations where we don't have all the knowledge to know what to do. Buying a car is stressful enough then comes the paperwork and financing.

    I'm quite certain an easy and quick solution will be worked out once you visit today and you will leave happy.

    Good Luck!

  99. 99. Annr [ July 08, 2014 @ 06:18AM ]

    Gave them $4,000 down payment June 30.
    Old car broke down June 27 which began all of this. Please reply !

  100. 100. Annr [ July 08, 2014 @ 07:17AM ]

    Thanks Marv, I think the documents are correct for the 2014, but selling it to me at the 15 price. And on each worksheet they have they clearly list that we are dealing for the 2015 Pilot and they always put that price.
    This is the sheet the floor managers hurry in and show you but never hand it to you to get a real good look, I would rather have the 2015 or nothing from this dealership at this time. I am scheduled to have adons put on tomorrow but need to cancel it until this
    Mess is over and I know what I will really
    Be getting. The ad ons were part of the deal
    But I won't need all of them if they give me the 2015 SUV that I have already financed at the 2015 starting price. I was told you still owe the finance companies even if you give back the car. So in a rewind the dealership
    Gives the money back to the finance company? I had to pay a fee to finance and it was also added into the financing unless I misunderstood the Paper work. I haven't been driving this vehicle unless I absolutely must. Would driving it effect the out come?
    And I don't know what to tell my insurance company yet. They called from the dealership and added the 2014. Can I simply say I want
    To unwind the deal and get everything back to normal. Will I need to sign paperwork

  101. 101. Mad Marv [ July 08, 2014 @ 11:21AM ]

    If I'm reading this right they printed the documents on the 2014 model but negotiated with you on the 2015. Yikes! Yep, better hurry back to the store and get with the General Manager-NOT the Sales manager/Sales Person/Finance Manager. He has the power to correct this right away. The real problem is with the Department of Motor Vehicles in your state. Some demand immediate titling. This could create an issue since you've had it for more than a week now. Another potential problem is you signed the documentation without noticing it was a year older unit than you negotiated. There is a terse warning before the final signature lines of the installment sales contract in bold capitalized letters which reads "NO COOLING OFF PERIOD".

    Here's hoping to a good outcome for you. I anxiously await any reply.

    Good Luck!

  102. 102. Annr [ July 08, 2014 @ 02:16PM ]

    He said he could not rewind the deal but he would cut me a check for the amount of money that I over paid. He was very polite
    and apologized about the confusion. He was the only person who would even return my phone call today at that dealership. He did mention the DMV as an issue with either them exchanging the 14 for the 15 or rewinding the deal. He did not mention
    Cooling Off or treat me with disrespect. He just stayed way away from a rewind or equal
    Vehicle trade. Maybe I will learn to love the Pilot but right now I do not. I cannot get comfortable in the front drivers seat. Hope they don't goof up the ad ons.
    Thanks for your advice. How could someone advocate for a state law allowing new car returns within a certain amount of time. I think you feel as much pressure at the dealership as you do at home for an in home sale.
    Doesn't California have a law like that? Does it work? This was a hard lesson to learn.

  103. 103. Mad Marv [ July 08, 2014 @ 02:45PM ]

    Because of strict titling laws in most states, it would be a very hard proposition to ever pass. I'm not intimately familiar with California law with respect to unwinding deals so I'm in no position of offer an opinion. There are so many tentacles attached to purchasing a car. It get's even more complicated when the vehicle is financed. This is why it's so important to do one's due diligence when purchasing as I'm sure you did. Customer reviews are a good way to get a feel for the general reputation of a dealership.

    While I'm glad the General Manager responded in a polite manner and he did refund the difference, I am sorry you didn't get the '15 model. I feel certain the '14 version will serve you well as that model has a good reputation. A further bit of advice. When you take your car in for service, be sure you contact the General Manager if at any time you feel like the level of service isn't what you expect. I trust, over time, they will make you a satisfied customer with award winning service so that the poor sales experience will fade. If in fact they do, make a concerted effort to have the GM on standby he next time you purchase.

    Thanks again for reading and sharing your experience so that others can benefit.

  104. 104. Annr [ July 08, 2014 @ 06:38PM ]

    This car buying experience took place in North Charleston, SC not California. Thanks for your advice.

  105. 105. Annr [ July 10, 2014 @ 02:59PM ]

    Well Marv took 2014 Pilot in for installation of
    We owes and some were put on before Sales Manager got there and others were stopped.
    The General Manager allowed a little more of the We Owes but not the biggest item.
    He did not take away the difference he had cut a check for. The sales manager was quite annoyed and got a bit rude. He kept saying you signed at this price. And I showed him mine; wrong car, wrong, price and incorrect information about WeOwe sheet and discount
    $. We owe was presented as an incentive
    I would never have purchased with correct information. Hope the check wasn't cancele
    I never thought the We Owes would be taken away!

  106. 106. Annr [ July 10, 2014 @ 03:13PM ]

    My story is too long to post unless I do it in segments. Advice to others.
    Have every piece of promised paper in front of you. Read it and compare #'s . They make you wait so it is ok for them to wait. Say I want to take it home. If they say no leave.
    They have kept you waiting so you are tired and need time to think and run your numbers.
    Make them write down that the we owe sheet and the discount are two different offers and one does not take away from the other.
    I would have caught the wrong sale price and figured it out before this mess!!

  107. 107. Annr [ July 10, 2014 @ 03:17PM ]

    This dealership said Consumer Reports is owned by China. I could not confirm that on internet. GM said whoever contributes the most money to CR gets the best ratings since
    China bought the Magazine. Any clue??

  108. 108. Annr [ July 10, 2014 @ 03:31PM ]

    Since they carried on so about losing money
    I offered to just void the deal. They declined.
    Massive amount of paperwork he said. But if you are losing so much money then do it.
    Subject was changed.

  109. 109. denise [ July 10, 2014 @ 10:35PM ]

    leased a car to buy at a car at a local dealership,
    they lied on my application to honda and said i made a salary when in reality i have a part time job ( NOTE MY husband works at fed ex and makes approximately 1500 a month.) Honda confirmed the applications data and i didnt know they had lied so i said the truth. Now they are now trying to get me to sign a new contract and pay 341.50 a month for 71 months, when originally we had said 280 a month on a lease. because they do this they said that if we reject the deal that we will be force to unwind and that we wont get our down payment. will this affect my credit score?
    please advice we need to give the answer tomorrow

  110. 110. Mad Marv [ July 11, 2014 @ 02:14AM ]

    You're absoultely correct , Ann. Always read every document to be certain it's satisfactory. We use "We Owe" forms anytime there is promised work post delivery and the customer gets a signed copy by both parties.

    Again, I am so sorry your experience at this dealership turned south.

  111. 111. Mad Marv [ July 11, 2014 @ 02:23AM ]

    Good Morning, Denise.

    Based on your statements, the dealership is at fault here. If you do not want to re-sign for the purchase contract then the deal would obviously be unwound and your down payment refunded. Your credit score shouldn't be affected. If you don't get your refund then I suggest you consult an attorney.

    Good Luck!

  112. 112. Alexandra [ July 20, 2014 @ 09:28PM ]

    Bought a CPO 2013 Hyundai Elantra today, but I noticed the exact same car (same VIN) is on the dealer's website for almost $1000 less! They let me take the car home without leaving the $750 down payment and the title to my '97 Honda Accord. I'm supposed to bring it in tomorrow, but I am so upset about getting totally screwed. I should have paid more attention and done my homework, but I desperately needed a car for work. Is there a possibility to sign a new contract since I haven't given them the dp and title yet? I live in Miami, FL

  113. 113. Alexandra [ July 20, 2014 @ 09:49PM ]

    I forgot to mention that the salesman mentioned the car was around $15,900, but when I looked back at the sales price on the contract, it said $16,868. I didn't think to clarify with the salesman because i only dealt with the finance guy after that.

  114. 114. Mad Marv [ July 21, 2014 @ 08:40AM ]

    Good Morning, Alexandra.
    I'm sorry to learn about the price difference and your dissatisfaction. Couple of things come to mind that might be useful in understanding what happened. You were probably charged a Documentation Fee atop the advertised price. This fee varies from dealer to dealer and some states aren't regulated. Florida is such a state. The fee is added onto the selling price and in most cases is taxable. I've seen fees from Florida dealers brushing $1000. We don't charge doc fees at our store but I understand why some dealers feel the need to. Look carefully on the contract to see if this is the case. Some states aren't regulated to the point they must include the fee in their advertised or internet price. It usually appears in the fine print and added later. When you return with your title and down payment, ask for the General Manager and voice your concern. I'm certain they will do the right thing.

    Good Luck!

  115. 115. Anna [ July 22, 2014 @ 02:06PM ]

    Hello, My husband and I purchased a new 2014 Chevrolet 1500 Silverado Crew Cab truck 2 weeks ago. We put 1200 miles on it and are not happy with the fuel economy, plus it is a very uncomfortable ride!. We called the dealer and they basically told us they would take it back but we would lose 7000 dollars, 2k of that is tax title liscense fees. We knew we would take a HIT, but feel dealer is being unfair. We have finiancing, (put 14K down). Any ideas? We are going to see if we can sell at another dealership or should we press the issue with the manager of the dealership? We are willling to purchase another vehicle from them, of course probably not as expensive of an item probably a 1 to 2 year old Buick Enclave. We currently own another older truck that we can still keep using for the towing we bought this one for. Help?

  116. 116. Mad Marv [ July 22, 2014 @ 06:21PM ]

    Hello Anna. Sorry to learn about the dissatisfaction with your new Chevy truck.

    As I advised another reader who experienced discomfort in ride quality soon after purchasing, "Vast improvements in ride technology puts the driver more in touch with the varying road surfaces. The ride of a vehicle is designed to not only be comfortable but to transmit road conditions to the driver's senses. Some suspensions are more taut and rigid especially sports cars. Tires can also make a difference."

    This is also true of trucks. Now, if you're determined to rid yourselves of it then there are a few things you can do. Visit two or three Chevrolet dealers and advise them that you're looking to sell to the highest bidder. Have them give you a written offer that they will write a check for your truck. Present the highest bid to your originating dealer and ask him to better it-in writing. Don't meet with the salesman or sales manager-seek out the General Manager! He has a greater stake in making you a satisfied customer than anyone else in the store. Then make your selection from his inventory for your replacement purchase minus his offer for your truck.

    You can also offer it for sale to the public and take your chances there. The thought of dealing with strangers driving your truck on a test drive and never returning or invading your privacy might be too much to stomach so give that careful consideration. It's important to know that trucks bring a premium over cars and retain their value better because of the utilitarian aspect so you shouldn't have a difficult time selling it.

    This will all work out. I'm certain of it.

    Good Luck!

  117. 117. Angelica [ July 23, 2014 @ 06:03AM ]

    Hi I was just wondering how long a car dealership has to return your down payment? We got a promise letter stating that they owe us $500.

  118. 118. Mad Marv [ July 23, 2014 @ 09:25AM ]

    Hi, Angelica.
    As with all companies, refunds are the subject of good customer service and logistics. Depending on the organizational processes of the dealership, the refund could take as little as three business days or a few weeks. If your original down payment was a personal check then they wouldn't issue a refund until it clears their bank. Credit cards and debit card transactions must be reversed which can gobble up at least a week. Cash is pretty easy to refund. Unless there are specific state laws in place I don't know of any federal mandate other than a reasonable length of time. I would suggest you make a call to the dealership's Comptroller or Office Manager. This is the nerve center of the dealership where all accounting takes place.

    Good Luck!

  119. 119. PL Anderson [ July 27, 2014 @ 12:35PM ]

    Purchased 2013 Jeep Compass for $17,998 on Friday, July 25 after 6pm.
    Found this same Compass on AutoTrader webstie for $16,488 this afternoon, July 27. That's $1500 less !!!

    I will ask the dealership to unwind the deal and return my trade in vehicle or to honor the website price. Are there any other options we might explore? Refund? I'm a female, age 68 and have no one to serve as advocate or representative. Thank you for your advice.

  120. 120. PL Anderson [ July 27, 2014 @ 12:59PM ]

    Does 'unwinding' an auto sales contract affect one's credit rating (FICO score)?
    Cannot find a clear answer on Internet.
    Thank you.

  121. 121. Mad Marv [ July 27, 2014 @ 05:49PM ]

    Hello PL and thanks for reading.

    Most dealers charge a "doc fee" and some states do not require the dealer to include it in the advertised price but it should be somewhere in the small print or at least a mention that there is a doc fee to be added along with sales tax and title fees. I haven't heard of a $1500 doc fee but I suppose it's possible. If so, it should appear on some of the documentation you signed. Check all your copies carefully.

    Go ahead and make a print screen shot of the lower price as it appears on the internet. First thing tomorrow morning, give the Sales Manager a call and calmly ask him about your deal and why it's on AutoTrader for $1500 less. He may answer that the person who updated the prices made a mistake. He may blame it on the salesperson. There may be undisclosed charges. Consider his answer and if not satisfactory then go down to the dealership with your copies and ask for the General Manager.

    If you've been over charged there are a couple of things that can be done. They can refund the money directly to the lender and it comes straight off the principal thereby adjusting the finance charges. They can rewrite the finance contract with the correct figures. If you've been over charged then the dealer will make this right. Refusing to do so would be unwise on their part. I don't believe they will want to unwind the deal over this.

    Speaking of unwinding, it doesn't affect your credit score because the deal is as though it never happened.

    If you discover there is no explainable reason for the over charge and they won't budge, then I suggest you contact an attorney.

    Good Luck!

  122. 122. Lila W [ July 29, 2014 @ 06:32AM ]

    Last month we went to the dealer and went over our options. We decided on the vehicle, but the dealer had to have it delivered. Once the truck arrived, I went in, signed all the paperwork, had the tags and insurance set up and drove home. I received the registration later that week. I received a verification call from the finance company and was told they would send out the payment book. 2 weeks later I received a call from the dealership. They told me the lender had rejected the loan because I am out on workers comp right now, but still bring home $800 per week until I get back to work. I am under contract with my employer and am guaranteed my job for 2 years after injury. The finance manager wanted me to get that in writing. The sales contract states the first payment was due on 7-26-2014. I spoke to an attorney and the AG office for NYS and they advised me to send payment directly to the dealership. I sent the first payment via certified mail and a certified check. Yesterday the dealership called asking if I had gone back to work (I got a light duty release, but am waiting on HR to create a position within my restrictions). This isn't a spot scam, because the contract states nothing about if financing falls through. When I left the dealership the day we picked up the car, I was made to believe the deal was done. They haven't assigned the loan to a finance company yet, but it's been over 40 days and I have yet to receive title. Is the dealership bound to the sales contract, if they didn't assign the loan? I have a certificate of sale from the dmv as well. They received my payment, and I haven't breached the contract. I am already emotionally /financially invested in the vehicle and we don't want to return it. I already purchased accessories etc for it. There is also 1500 more miles than when it was delivered new. Whose on the hook here and

  123. 123. Lila W [ July 29, 2014 @ 06:37AM ]

    What are my rights? If the loan isn't assigned does the dealership have to honor the sales contract? Thanks in advance

  124. 124. Mad Marv [ July 29, 2014 @ 07:19AM ]

    Good morning, Lila.

    Sorry to learn about this confusion. In some manner the lender and the dealership weren't properly communicating and your situation is a result of that. Sounds like you've already done your homework by consulting an attorney and gone the extra mile contacting the state AG's office. I would follow their advice. Also ask your employer for the requested letter and forward it to the dealer. The terminology of the installment sales contract you signed should make it clear the dealer is the holder (owner) of the note until they assign it. Your financial repayment obligation would be to the holder at all times until the note is fully repaid or you refinance elsewhere. As already advised by legal counsel, make certain your subsequent payments to the dealer are timely. If they are successful in assigning the note to a lender you'll be contacted by that lender. In the meantime, enjoy your new truck.

    Good Luck!

  125. 125. Max [ July 31, 2014 @ 09:19PM ]

    Hi Marv, Thank you for creating this page and offering your advice. I have read many of the stories and your replies, and I find it astonishing that you created this article in 2012 yet you keep replying! Marv, I need your advice very badly and I feel that I have a unique situation.

    I bought a brand-new vehicle yesterday, and so far am happy with it; however, I wish to trade UP to a slightly-higher trim level that costs roughly $1700 more. I was not aware of this trim level until I drove home and read the manual. I feel stupid for not having looked at more vehicles. The website was a bit misleading in terms of what comes standard. My wife and I went in with our toddler after work, and I felt stressed to sign as quickly as possible so that we could get out of there; everything had been pre-arranged.

    The features on the next-level trim are very attractive, and I find they are detracting from enjoying my new purchase. I can afford the difference and would qualify through financing to have it added on, maybe even with some extra fees.

    I talked to the Finance guy (no salesman was involved) and he said it would be complicated to unwind due to (1) Vehicle being insured and registered so no longer being "new" (2) Trade-in and Commissions need to be refunded and re-assigned and (3) re-financing the new amount with lender. The sales manager seemed hesitant and said no.

    I don't want to have to bring any of this up to the GM because I am fairly happy otherwise with how things went, and I don't want to lose financing/car, but there *were* inconsistencies with the deal: (1) Since my wife did not qualify credit-wise, her income was lumped in with mine (2) I financed the vehicle but only my wife's name went on the bill of sale and (3) The sale price submitted to the bank, as well as trade-in value, were inflated to "hide negative equity"

    Can you please advise on how I could get the dealership to trade me up into the next trim level?

  126. 126. austin [ August 01, 2014 @ 03:38AM ]

    so the other day I went to a dealership and they approved me for a loan but I haven't taken the car and I did all the paper work I just needed proof of income and to bring in my down payment is it to late to back out of it I really cant afford this car please help asap

  127. 127. Mad Marv [ August 01, 2014 @ 07:47AM ]

    Good Morning, Max. Thanks for reading!

    I can easily understand your situation and would hope the General Manager will agree to unwind the deal and rewrite everything for your vehicle of choice. Without offering a legal opinion to which I am unqualified to do, I suggest you present the three points of your last paragraph to him and ask for the favor. I will say that since you're now aware both incomes were combined as yours that ethics should prevail on your part. I know you haven't thought about it but your signature appears at the bottom of that loan application which puts you in a difficult situation if you read the fine print of it. Some lenders will allow spousal income but it should be itemized on the application as additional income so make certain it reads that way. I don't understand why the Bill of Sale has only your wife's name on it since her name doesn't appear on the other sale documents. Maybe a typo that can be easily corrected. The General Manager will easily see the significance of the last point of your paragraph.

    Good Luck!

  128. 128. Mad Marv [ August 01, 2014 @ 08:18AM ]

    Hello, Austin.

    The proposed lender the dealer has chosen has likely asked for income proof as a condition of approval. Then there is the matter of the down payment. If you refuse to comply then the deal would be considered dead. I'm certain Buyer's Remorse has caused you a lot of grief so I wouldn't want to add to that but I'll give you some food for thought. What motivated you to consider buying a new car? Need more interior space? Old car worn out? If this car is over your budget then ask the dealer to show you other cars that fit your budget and choose one of those. This need not be an unhappy experience for you or the dealer. You've already invested time and energy so give my suggestion some thought. I'm certain this will work out.

    Good Luck!

  129. 129. DJ [ August 01, 2014 @ 07:45PM ]

    Hi Marv,

    I recently went to have my car appraised, then to double check the first appraisal, I went to another dealership and had it appraised again. While I was there, I took a new car (only 8 miles on it), for a test drive. I liked it, but my dad loved it. The salesmen kept asking me what number I needed to leave in this car today. I never planned on buying a car, but with the way the salesman made it sound, if I wanted this car at this price, I would need to act now. Plus it was the last day of the month. So he really wanted to make the sale. Signed the papers at 11pm. I asked the finance manager about the interest rate, he said he wouldn't know till later, seeing as the banks were all closed.

    I'm a freelance artist, and after driving this new car home, I took some time to go over my finances, turns out I can't afford the car. I went back to the dealership the next day. The finance manager was not there, but I did talk to another guy. I asked if I could return the car and take mine back. He said only the GM could do that and he wasn't in. He then said he would talk to the GM the next day (Saturday), told me that I shouldn't come in Saturday because it would be too busy. Said Monday would be better, also, before they could return my car to me, they would need to do some type of safety test. My car should be plenty safe.

    Long story short, do I need to worry about them doing anything to my car while it sits on their lot? Saying it's not safe, so they don't have to return it. I haven't handed over the pink slip yet. Couldn't they have just canceled the deal when I went in to question them, or is that something only the GM can do? Last question, what kind of fees should I except to pay if the return goes through?



  130. 130. DJ [ August 01, 2014 @ 07:45PM ]

    Hi Marv,

    I recently went to have my car appraised, then to double check the first appraisal, I went to another dealership and had it appraised again. While I was there, I took a new car (only 8 miles on it), for a test drive. I liked it, but my dad loved it. The salesmen kept asking me what number I needed to leave in this car today. I never planned on buying a car, but with the way the salesman made it sound, if I wanted this car at this price, I would need to act now. Plus it was the last day of the month. So he really wanted to make the sale. Signed the papers at 11pm. I asked the finance manager about the interest rate, he said he wouldn't know till later, seeing as the banks were all closed.

    I'm a freelance artist, and after driving this new car home, I took some time to go over my finances, turns out I can't afford the car. I went back to the dealership the next day. The finance manager was not there, but I did talk to another guy. I asked if I could return the car and take mine back. He said only the GM could do that and he wasn't in. He then said he would talk to the GM the next day (Saturday), told me that I shouldn't come in Saturday because it would be too busy. Said Monday would be better, also, before they could return my car to me, they would need to do some type of safety test. My car should be plenty safe.

    Long story short, do I need to worry about them doing anything to my car while it sits on their lot? Saying it's not safe, so they don't have to return it. I haven't handed over the pink slip yet. Couldn't they have just canceled the deal when I went in to question them, or is that something only the GM can do? Last question, what kind of fees should I except to pay if the return goes through?



  131. 131. Mad Marv [ August 02, 2014 @ 04:05AM ]

    Good Morning, DJ.

    The "safety test" sounds a little creative to me but I'm no expert in these matters. It certainly isn't applicable where I live. It occurs to me the owner is responsible for safety issues. As far as the car deal goes, the dealership likely has a policy that the General Manager is the only one who can unwind a deal so make a return visit to see him on Monday. They may charge you for the miles you put on it, a restocking fee, costs to clean/detail the car, documentation fees to unwind the title application etc. Sounds like a lot but it shouldn't total up to be very much. Then again, they may just hand you back your keys and call it good without charging you anything at all.

    Now, since you signed the sale documents and perhaps an Installment Sales Contract a.k.a. as a Finance Agreement, the dealership likely has a binding contract. Check your copies and read them carefully. I've mentioned this before to other readers about the bold statement near the bottom of the note that reads "NO COOLING OFF PERIOD" in bold text. It goes on with "State law does not provide for a "cooling off" or cancellation period for this sale. After you sign this contract you may only cancel it if the seller agrees or for legal cause."

    Good Luck!

  132. 132. Ken [ August 07, 2014 @ 11:09AM ]

    Is it possible to return a car the day after delivery for the same year model, but with a different package such as a sport package with leather seats and bigger wheels? Thanks.

  133. 133. Mad Marv [ August 07, 2014 @ 11:18AM ]

    Most anything is possible if the switch is made within a short span of time. Again, it's at the dealer's discretion because there is nothing that legally compels the dealer to do so. You could be charged for the miles and cost's to unwind the sale of the first vehicle so bear this in mind. The dealer may opt for you trade the car back in thereby suffering depreciation so weigh your options carefully.

    Good Luck!

  134. 134. Jess [ August 10, 2014 @ 09:39PM ]

    So, if I'm understanding what you're saying correctly, they can still take my car back if they can't find a bank to finance the car. EVEN IF they've already taken the trade-in and the down payment, and it's been almost a full month since I got the car?

  135. 135. Jess [ August 10, 2014 @ 09:40PM ]

    So, if I'm understanding what you're saying correctly, they can still take my car back if they can't find a bank to finance the car. EVEN IF they've already taken the trade-in and the down payment, and it's been almost a full month since I got the car?

  136. 136. Mad Marv [ August 11, 2014 @ 04:55AM ]

    Jess, there is a caveat to your situation where the dealer is concerned and that would be if you signed an immediate delivery agreement giving them the right to unwind the deal if they cannot place the loan with a lender. I mentioned this in the article 'the agreement clearly states that if the dealership can’t find a sales finance company to buy the contract, the car is to be returned. The sale is then rescinded unless the customer can procure his or her own financing.'

    If you signed a form similar to this then the dealer has discretion to unwind and return your trade and down payment. If you did NOT sign a form with language like this then the dealer could be required to accept monthly payments and you keep the car. Check your documents carefully.

    Good Luck!

  137. 137. Chris [ August 18, 2014 @ 09:37PM ]

    Just bought a brand-new 2014 Mustang today. Literally driving it off the lot the brakes started grinding and squealing like the calipers wouldn't release. Turned around and gave it back to the sales manager as the service dept. was already closed and went home in a loaner. Any chance of just unwinding this deal? What would it take?

  138. 138. Mad Marv [ August 19, 2014 @ 04:07AM ]

    Good Morning, Chris.

    Sorry to hear about your Mustang. Great car! It's possible to unwind the sale if the dealership chooses to but I'd give them ample time to fix the problem. I'm certain it's not serious and you'll be enjoying it this afternoon.

    Good Luck!

  139. 139. reba [ August 30, 2014 @ 10:04AM ]

    can I get out of this purchase? bought new honda yesterday-overpaid-did not drive home with new car as it was "arriving last night at the dealership"

  140. 140. Mad Marv [ August 31, 2014 @ 08:06PM ]

    Sorry to hear you're dissatisfied, Reba.

    Unfortunately, once you've signed the Retail Insatallment Sales Contract, the sale is binding whether you took physical delivery or not. However, there may be some state laws that trump federal laws on this matter so check with your attorney. The dealer may be willing to renegotiate the sale as well so give him an opportunity but be aware he is under n o obligation to do so.

    Good Luck!

  141. 141. Jenn [ September 02, 2014 @ 03:30AM ]

    I purchased a vehicle 2 days ago with the intention of trading in my old car. The cosigner and co-owner of the old car will not sign off on the trade in. I called the dealer and let them know that the co-owner will not sign anything but they said that financing had already gone through (I don't believe that and will be checking with the lender today) and that I could have the other car back if I wanted to carry two payments. Is this a deal that may be undone since its not the deal I signed for? I cannot afford two car payments and do not have the cash to pay off the old car loan.

  142. 142. Mad Marv [ September 03, 2014 @ 03:37AM ]

    Good Morning Jenn, sorry to learn about your troubles.

    Your's is an unusual situation to be certain. Since the co-signer has co-ownership in your state then this person has leverage. As I've responded to others in this article, I'm not a legal expert nor offering legal advice rather a professional observation. The Retail Installment Sales Contract (the finance agreement) that you signed clearly states the old car was traded and subsequently paid off. Since you cannot provide a transferable title then the terms of the sale are not as they appear. If you cannot persuade the co-owner to sign off then your trade must be returned since you can't sell it to the dealer. In my opinion the deal should be unwound.

    Make an appointment with the General Manager to resolve this. I'm certain this will have a predictable outcome.

    Good Luck!

  143. 143. Adam t [ September 05, 2014 @ 06:26AM ]

    Hi, I purchased a vehicle from a used car dealer. I am not satisfied with my purchase, as I overpaid and can't make do on the installments. I have paid only a deposit and dealer allowed me to take the car home after signing all the papers. I want to request the dealer to unwind the transaction, as I read in your posts, I understand that dealer has no obligation to unwind. However, how much money, that is reasonable, I can offer to unwind the deal. I paid around 25000 for the used car. Please let me know. Thanks.

  144. 144. Mad Marv [ September 05, 2014 @ 04:07PM ]

    Hi, Adam.

    Sorry about your problem. Buyer's remorse is not uncommon though not usually a good reason to simply back out of a car deal. However, it can't hurt for you to ask the General Manager to allow it. There may be an alternative to this and you coming out of pocket for any expenses to unwind. Since you came in for a car, it's likely you still need one so why not ask the GM to place you in a car you can afford and unwind the first one. Win-win scenario for both you and the dealership.

    Good Luck!

  145. 145. Adam [ September 06, 2014 @ 05:50AM ]

    Thanks Marv for the advice. Another thing that is rankling in my mind is that car has a brake light on, they did not allow me to take the car to a mechanic and said that they will fix the problems with the car. After I signed the papers tone of the sales person changed and he said they will do brake service. I am not sure if he is going to fix the brake problem for me as I don't have anything in writing. I have committed mistakes here because of my inexperience, however, want to fix that at a cost that is not too back breaking for me. This car was bought by the dealer at an auction, so could there be problems with a vehicle sold at an auction that do not appear on carfax? How do I ensure that this car is as good as a certified pre-owned vehicle?
    Also some other uncertainties have come about so want to put off the purchase. Please let me know your thoughts. Thanks.

  146. 146. Mad Marv [ September 08, 2014 @ 07:28AM ]

    I'm certain they will take care of the brake problem due to the safety aspect however, you need to follow up to make certain they perform the repair as promised. Vehicle history reports such as CarFax may not reveal everything so it's always wise to have the car checked by a qualified mechanic. The only way to ensure a car meets certified pre-owned status is to put it through the CPO inpsection process and any noted repairs completed. I feel certain the dealer will take care of this problem and every effort will be made to ensure you're a happy customer.

    Good Luck!

  147. 147. Al [ September 08, 2014 @ 10:58PM ]

    Will it affect my fico score if a loan was rescinded and the deal had to be unwound? I live in the state of California.

  148. 148. Mad Marv [ September 10, 2014 @ 06:09AM ]

    Good Morning, Al.

    Since FICO keeps their propietary formulas a secret, I can only offer an opinionated guess. In my experience, the inquiries made on your credit report should be the only activity. That shouldn't have a major impact on your score. You might want to order a copy of yours from the three major reporting companies to be certain.

    Good Luck.

  149. 149. david [ September 14, 2014 @ 04:37PM ]

    I just made a big mistake. I traded my 09 journey for a 2014 cruze and i cant afford it due to payments being to hi. Its also that my wife wont drive it and its supposed to be her car. Ive already notified the sales rep that i have to bring it back and get my journey back. Also i had or have negative equity on it. So when i get my old car back will i still have the same payments?

  150. 150. Mad Marv [ September 14, 2014 @ 09:31PM ]

    Hello, David.
    Sorry to learn about your trouble. IF the dealership agrees to unwind your deal then you will continue making payments on the Journey. I suggest you consult your wife before going to another dealership to make certain she's happy with the future ride.

    Good Luck!

  151. 151. david [ September 15, 2014 @ 04:00AM ]

    Ok thanks. Thats the thing. She was happy with it until she drove it on the highway.

  152. 152. Laura [ September 15, 2014 @ 09:33AM ]

    This article is really helpful--it gives some perspective on the process. I wonder if you'd have a minute to consider our situation. My grandfather is 90 years old. He got a recall notice about a switch in his 2003 car and panicked. He went straight to the Ford dealer in his town and bought a 2014 Focus last Friday. He was excited about it for 20 minutes, and then buyer's remorse hit. Papa is pretty independent for his age. He lives alone and handles all his business dealings. But he is beginning to show signs that he needs more support. This was a huge step for him to take. He really didn't need a new car and doesn't feel comfortable with all the new technology in this one. He wants his old car back and is approaching the dealership, asking for them to "undo" his purchase. Do you have any advice for us?

  153. 153. Mad Marv [ September 15, 2014 @ 11:14AM ]

    Hello, Laura.
    Sorry to hear about your grandfather's discomfort with the technology in today's cars. I share his frustration. I've been fortunate to have driven hundreds of company provided cars in my career yet I still get nervous the first few days I'm behind the wheel of a newly issued one. Once you get the electric seat, mirrors and climate control set then the rest can be learned but not all tech items on new cars are for everybody. My wife has never used the Ford Sync to connect her cell phone and I understand why. Personally, I like plain round control knobs yet it seems manufacturers are getting further and further away from the basics in an effort to appear on the cutting edge of technology.

    Since the weekend has passed, they may not be agreeable to unwind the deal but it never hurts to ask. If not, he may find someone there who can provide him an easy tutorial to set everything and then coach him on the more complicated items. I feel certain the dealership wants to make your Papa a satisfied owner and will do whatever is reasonable. It may help if you accompany him.

    Good Luck!

  154. 154. tyrell [ September 15, 2014 @ 02:32PM ]

    Hi, I recently purchased a vehicle from a dealership , and after I pulled off the lot I realized everything wasa lie , I signed a non refundable deposit form , but on the form the sales man put the wrong odometer reading , he put 115,000 miles but the car really had 120,000 miles on it . He lied about the price of the vehicle , then I realized the air conditioning didn't work , the hazard lights didn't work , then the back window stopped working , so I called to get the deal unwinded and they agreed but are refusing to give me back my deposit after clearlyacting out of deception , what do I do ?

  155. 155. David [ September 16, 2014 @ 04:58AM ]

    (1 of 2) Hello.. I recently went to the dealership for an appraisal to see how much money they were willing to offer me.. But in the moment of the appraisal the sales guy took me to take a look at a new car and before I realized they had me in an office working numbers and trying to cut me a great deal on a 2015 scion tc which my trade in car was a 2007 scion tc with 93,000 miles and in excellent condition with brand new paint job. When I told them that all I wanted was to know their offer for my trade in they sucked me in with promises and what I was going to get for trading my car and since my credit is bad at a score of 540 they mention that I was going to get a low percentage of 14% and payments of 480 with low jack included and 5years free maintenance with free car rental if the car stays over night or stays a couple hours. And also 2 yrs of roadside assistance. They mention I was going to get gap insurance and out of the 5,000 for the trade in I was only going to put down 2,000 and they said I was getting a check cut that same day for 3.000 and they also mention that they were going to report to the bank that my credit score is 614 when reality is only 540.. Ok this was done on Friday September 12. After signing they told me that I would have to wait a week to get my check for 3,000 because of the process of trying to get the bank to finance the deal and also trying to get my car title transferred to the dealership. But revising my contract I have no gap insurance and my interest rate is 14.70% and the down payment I gave for the trade does shows on the contract but doesn't bring down the cost of the vehicle it states the same price.

  156. 156. David [ September 16, 2014 @ 05:01AM ]

    2 of 2 And the lo jack that comes supposably with the car I'm actually paying for it and they also added the registration fees and plates fees onto the contract when they said they would cover the cost. And I came to realize after getting the low jack installed that the car doesn't come with an alarm.. I have to purchase it which I wasn't aware of, which I thought like any brand new car it comes with one already ,Since my old scion came with one when I bought it new I figured it would apply .tNow it's Tuesday September 16.. My question is can I still get my trade in car back and unwind the contract? For false promises and note the deal is not legit until they can get a bank to approve. I already called the dmv and put the transfer on hold explaining what happened.. I'm just afraid that they might not even cut me a check once the car gets transferred to the dealership. Please help.. Another question is it possible to offer a different trade in car instead of my scion since I have multiple paid off cars and I do have remorse in letting my 07 scion go. Thanks

  157. 157. Mad Marv [ September 16, 2014 @ 07:47AM ]

    Good Morning, Tyrell and sorry to learn about your dissatisfaction.

    As I've advised so many others in this thread, personally visit the dealership and speak to the General Manager. While (s)he may agree to refund your deposit they may deduct the cost's to unwind your purchase.

    Good Luck!

  158. 158. Mad Marv [ September 16, 2014 @ 08:30AM ]

    Good Morning, David!

    You do have quite a grocery list of things to address so I'll do the best I can however, I want to first tell you that car deals often speed up once negotiations begin and a lot can get lost in the translation because both parties have their own perception. It is incumbent upon the dealership to be as plain as possible when the finer points of the sale are discussed though everything that is promised should be in writing.

    A couple points to ponder-
    *The initial interest rate offered by most dealerships is usually presented as an estimate. Your final rate turned out to be a bit higher and that should have been explained to you before signing the final contract because you have the option to accept or reject the final offer.
    *Any items you agree to beyond the car purchase are additional and should be itemized on the final installment sale agreement. Regardless of any insinuation from anyone at the dealership, these items are not free.


  159. 159. Mad Marv [ September 16, 2014 @ 08:32AM ]

    From your conversation it appears your perception of the final deal is far different than what you signed for.

    Now, I suggest you revisit the dealership and ask for the General Manager to resolve your problems. Do not waste time with the salesperson or sales manager. If the GM isn't available then return when he is.

    Calmly, without emotion nor drama, lay out your grievances and ask the GM what he can do to satisfy you up to and including unwinding the sale. As far as any other arrangements including trading a different car you own, I'm certain they would be willing to work with you.

    Please be advised that the dealership is not only the Seller but also the initial Creditor and as such has the legal power over the financing until they find a lender to sell it to. This means that just because the first lender they chose may not want the contract does not release you from the obligation.

    I'm confident the dealership will do the right thing and satisfy you once the GM becomes informed of your problems. As I often state, I'm not a legal expert nor offering legal advice. If you're still not satisfied with the outcome after visiting the dealership then I suggest you seek out a qualified attorney for help.

    Good Luck!

  160. 160. shi [ September 17, 2014 @ 04:35PM ]

    ok so say you have had your new car for over a month and a half and the dealership still has not got you your plates and you have called them multiple times trying to fix the problem and they still do nothing. Finally you have had enough can call the general manager of the dealership,tell him what happened and he says he will make a few calls and get back to has now been two days and you still haven't hurd from him.... what do you do then? how can I get out of it?

  161. 161. Mad Marv [ September 17, 2014 @ 07:25PM ]

    Hello,, Shi.
    Get in your car and go to the dealership. Ask for the General Manager and patiently wait until (s)he can see you. Don't leave until you get satisfaction. Your mere presence in the waiting area/lobby will get everyone's attention because word spreads fast in a car dealership. Be calm and mature. No drama or shouting. Simply state why you're there and I promise you'll come away with a resolution.

    Good Luck!

  162. 162. David [ September 25, 2014 @ 01:33AM ]

    Hello mad Marv.. I'm David and I must report some great news!! I recently posted a comment about trading in my 2007 scion for a down payment for a new 2015 scion tc.. I explained about my paper work was different from when I sign.. Well ...I took your advice went back to the dealership and took my contract and ask politely to please explain to me about my contract.. Well after they explained and I said that it wasn't what I was told when signing they ask me to come back the next day to talk to the finance guy since he was off that day.. Well since well behaved manners paid off.. I was able to recover my 2007 scion tc trade in after having remorse leaving it for a week there at the dealership and they even rewrote my contract giving me a much better deal and they even lower my payments and my APR interest!!! Which I left very pleased. And the people that work there told me that they never came across a polite and well spoken sincere guy. They said that the reason they were willing to work with me was because I was calm with a good attitude and they said that their policy is to keep there customers happy.. They even explained to me that if I would of had a different attitude they would of just said ; did you sign here and here .. Well yes .. Then there is nothing we can do and they would of send me off without negotiating .. But I was nice and I got rewarded.. Thanks a lot for your time to respond to my posting and giving me hope and excellent advice. I now established a good relationship with my dealer and they won a client for life.. God bless ...

  163. 163. Mad Marv [ September 25, 2014 @ 02:18AM ]

    That's wonderful news, David! Emily Post would be proud. Good manners do pay off after all.

  164. 164. Jim [ October 01, 2014 @ 11:38PM ]

    Hi Marv.
    I have an odd situation. I purchased a used car for cash (debit card). The dealer gave me a receipt for the full sale amount. I got the title and registered the car. Five weeks after the deal was signed and I took the car, the dealer contacts me and says that only $6000 of the $8000 purchase price went from my bank to theirs. Apparently, there was some sort of mistake made when they swiped my card and entered the amount. i confirmed with my bank that only $6000 left my account. I have the title, registration and possession of the car. My question is, can the dealership repossess the car if I don't pay the additional $2000?

  165. 165. Mad Marv [ October 02, 2014 @ 05:18AM ]

    Odd question but I'll give you my opinion.
    Since you signed sale documents agreeing to the $8000 then the dealership is entitled to money owed them. However, I do find it strange that their accounting office took so long to discover the mistake. I'm not a legal expert and am unfamiliar with laws dealing with clerical errors like the one you described but I think it would be the right thing to remit the difference and remain a satisfied customer.

  166. 166. Jim [ October 02, 2014 @ 06:32AM ]

    Thanks Marv
    I'll pay them the full amount, but I am not very satisfied. Because of the error, i had to sit around the DMV for quite a while only to discover that the tax amount that the dealership had entered on the form was incorrect. Then, when I went to the dealership to sort that out, I had to wait several hours while they tried to figure out what the mistake was. Finally, they said that they had corrected the form, and by the way I owed them $2000. They didn't even apologize and I wasted a whole day dealing with their error.

  167. 167. Mad Marv [ October 03, 2014 @ 02:50AM ]

    This is most unfortunate and I empathize with you. At the very least, when you remit the balance, you might want to send a letter to the General Manager or Owner describing in detail the problems you encountered. While this is certainly an unusual occurrance, your letter might get the attention of executive management at that store and help them solve some internal accounting issues thus preventing a problem for other customers.

    Good Luck!

  168. 168. sucks to be me [ October 03, 2014 @ 10:53PM ]

    Marv, I traded in a vehicle to purchase another, rolling the negative equity from my vehicle into the new loan. I was starting a new job the next week... which I never was able to officially start before I was let go. The loan was approved but the lender needs proof of income, which I cannot furnish, and I believe the dealership has sold my trade-in. I understand the loan won't be funded, that I can't have my old car back if it's been sold, but could I be on the hook for the pay-off? Or at least for the difference in the pay-off and the trade-in value? Or is it possible that the dealership has to eat the negative equity? I will be returning the new (to me) vehicle this weekend but I don't want to get jerked around because they're upset I lost my job. I'm obviously upset about it also and feel bad that I've put them in this predicament.

  169. 169. Mad Marv [ October 04, 2014 @ 06:21AM ]

    Good Morning!

    Sorry to hear about your job situation though I expect you'll soon land a much better one.

    Deals that require approval conditions such as proof of income or residence are common place in auto lending and dealers are usually prepared for situations like yours. This means they probably haven't sold your car so you should be allright. I say that because the dealer knows you owed more on the car than it was worth and likely would've waited until they got a green light from the lender's funding department.

    Here's to you finding a terrific job and soon riding in a new car!

    Good Luck!

  170. 170. sucks to be me [ October 04, 2014 @ 08:49AM ]

    The Finance manager told me they had sold my vehicle, and I saw it on the lot shortly after I purchased my new car. If they have sold it, what is the most likely scenario?

  171. 171. Mad Marv [ October 04, 2014 @ 08:41PM ]

    Oh, my!

    I'd rather not speculate here. Contact an attorney. Remember you still owed more than it was appraised for so there is a shortfall you could potentially be responsible for yet they likely knew stips were needed before the lender would fund the original deal.

    Hang in there.

  172. 172. Melissa [ November 04, 2014 @ 09:21AM ]

    I'm hoping you can help me with this!! I went to the dealership last night and got way in over my head. I simply went in for quotes but being a young female with not a lot of knowledge when it comes to car buying, I got taken advantage of. They gave me a ridiculously high interest rate. I put down a deposit to simply hold the car until tomorrow when I'm supposed to put down the down payment. I spoke with my father and he said he would cosign on a loan for me so my interest rate won't be so high. My question is, since I still want to purchase the car ( I signed all the paperwork last night) but I just want to modify the loan to have my father as a cosigner. Can they change the loan even after I have signed all the paperwork? I haven't submitted my pay stubs to the finance manager yet, I was supposed to do so this morning. I didn't go home with the car since I didn't give them a down payment, just a deposit to hold the car. Do you think they will change the loan for me? Thanks!! I've been restless and stressed about this!!

  173. 173. Mad Marv [ November 04, 2014 @ 10:37AM ]

    Good Morning Melissa and thanks for reading.

    The dealership should be willing to work with you and your dad to re-sign new documents for a lower interest rate. Remember that the dealership is the initial creditor and control the deal until they sell it to a bank.

    To be fair, the dealership extended you a credit offer based upon your current financial state which includes pricing the Annual Percentage Rate. They usually do this based on a conditional approval from a bank if certain conditions are met i.e. proof of income or residence. Your limited financial status likely played into this which is why the rate is high. The investors in those banks have to be satisfied with risk so the rate passed along to the customer is often high in these situations.

    Good Luck!

    The dealership was simply doing the best they could with what they had to work with. The lesson is always be certain before actually signing legal documents. Make certain you're clear or walk away if not.

  174. 174. Terri [ November 04, 2014 @ 06:53PM ]

    Boy do I have a question for you. My sister who has no credit and her boyfriend who's credit score is a 460 went to a dealership to purchase a car for the first time. The dealership allowed them to leave in the vehicle paying $500 down, 15k total with a 18% interest rate on a 2010 kia rio and payments $342/month. No car facts given either. 72 month loan with an estimated end of 25k. Horrible deal in which was realized the next week when they found out the car was worth around $8k. Also neither can afford this payment and their paychecks show it. So the contract has a no return clause and it wasn't based on financing being approved. The financing company has been asking for additional information in which my sister no longer wants to (and can't) provide because she no longer wants this horrible deal and she believes the dealership lied on her behalf to the financing company about income. When she stated this to the financing officer they said that they would reject the loan and contact the dealership. My sister told the dealership this and they said that they would just wait out the contract and then sue her. What exactly do they mean, sue her? The financing didn't go through so the deal should be off, correct? This dealership took advantage of young adults... What rights does my sister have if she just returns the vehicle? What can the dealership do to her?
    Can they keep submitting her to other financing companies with even higher interest rates?

  175. 175. Mad Marv [ November 05, 2014 @ 04:13AM ]

    Good Morning, Terri.

    Sorry to learn about your sister's dissatisfaction though it appears the dealership probably did a great job in getting the loan application approved in the first place. Their's is a challenging situation to be sure because of the lack of credit. At first glance, I'd say some of that $15K has added items such as a Vehicle Service Contract, GAP and perhaps a Maintenance program so the actual amount financed on the car is likely less. I say this because the finance company that gave the dealership a conditional approval based it on the value of the car.

    I will remind you that the dealer is the initial creditor and has the legal right to sell the contract to any bank they choose. Your sister and boyfriend actually entered into a sales finance agreement with the dealer as evidenced in the terms of the contract. Their name appears as "Seller" and they have the right to market the loan at face value or collect payment themselves if they choose. Now, since the first finance company has decided against the deal, the dealer can search for another until they find one that will purchase it as is.

    If the dealer is unsuccessful and decides to exercise it's option to collect payment as stated in the terms of the contract, your sister is obligated to them. That means if she returns the car refusing to pay then the dealer could sell it at auction and sue her for the deficiency just like a bank could and treat it as a voluntary repossession. Now, I seriously doubt this is going to happen. If the dealer can't find a finance company they'll likely allow the deal to unwind and call it good or offer your sister different terms that may be more affordable.

    As I've stated before, I'm not a legal expert nor offering legal advice. I'm merely answering questions here based on my years of experience. If your sister is dissatisfied at the conclusion of this matter then I suggest she seek an attorney for help.

    Good Luck!

  176. 176. Mike [ November 09, 2014 @ 10:03AM ]

    I went to lease a car, I told the sales
    Person I didn't have a down payment, they said they'll work with me, when we went to sign all the paperwork, they didn't charge me for a down payment, I asked the financial manager if everything was good and he told me yes, that I'm good to drive off, the next day they called me up and told me that I had forgotten to leave a 2000 dollar down payment, I looked at the contract and it said I had to leave a 2000 dollar deposit at the time of release, and that I had to pay them. I don't have the money for the down payment, do I need to pay it? Since they release the car to me, they're excuse was that they where tired and it was after hours and didn't check ti get the downpayment, Another thing is that for my trade in, I was told I was going to get 16,000 and when I checked the next day they had put in the paperwork 15,000, I know I should've checked the contract before signing it, but I guess I trusted them a little to much, is there anything I can do.

  177. 177. Mad Marv [ November 09, 2014 @ 12:25PM ]

    Good Afternoon, Mike.

    Terribly sorry to hear about the misunderstanding concerning your lease deal.

    Obviously, there is a good lesson to be learned from your experience and that is always read over the terms of any contract you sign. If you don't understand something or disagree with anything then ask for an explanation. Trust but verify.

    The lease agreement you signed plainly states you tendered a $2000 cash deposit/down payment. Even though the finance manager said all was well, you can't prove you paid the cash down nor do their records indicate they received it. The leasing company may randomly call as a courtesy and ask specific questions regarding the transaction. It would be awkward if they asked to verify you paid the cash down.

    I suggest you return and have the dealer either re-write the lease correctly showing zero cash deposit plus the correct trade allowance or ask for it to be unwound and your trade returned.

    Yes, based on what you've written the dealership should have done a better job disclosing the deal but it's incumbent upon you to read before signing. The facts are that the lease agreement is not a true representation of what was agreed to.

    Good Luck!

  178. 178. Jay [ November 12, 2014 @ 11:36AM ]

    If I signed all contracts for a car a 2015 VW S AWD Tiguan and did not put any down payments down yet nor have I driven it off the lot. Am I still able to back out of the contract or are there any solutions because I re-did my calculations and I'm not able to afford the car as well as being a freshly new graduate from college.

  179. 179. Mad Marv [ November 13, 2014 @ 04:41AM ]

    Good Morning, Jay.

    Sorry the car isn't affordable. It's easy to over extend when car shopping and I understand.

    As far as the down payment not having been remitted, I'll refer you to the second paragraph of my reply to the previous reader. Now, the dealer may be willing to absorb the down payment in the deal if you refuse to pay it and sell the contract to a bank instead.

    I don't think it matters whether you actually took delivery of the car and drove it home. The point of financial commitment on your part usually resides with the executed installment sales agreement (contract) and the dealer is the owner of that contract until a bank buys it.

    If you truly do not want the car then return to the dealership and explain your situation. You'll probably find them to be agreeable and unwind or place you in a car more affordable which is why you went shopping in the first place.

    Good Luck!

  180. 180. Celia [ November 21, 2014 @ 08:41AM ]

    I purchased a vehicle on 11/3 after 3 hours in the dealership. I signed the contract and paperwork, was given the keys and and a congratulatory hand shake. At that time I was told they didn't have temp tags but I could pick one up the next day. I called the next day and was told there was a minor discrepancy in the figures and that they corrected the contract and would send some to me to fill them out as well as bring the temp tag. Someone came out around 830 pm that night and I signed the paperwork and got the tag. 2 wks later I get a call that the financing fell through (I was unaware that I didn't have financing when I left the dealership) AND that they had a signed conditional rental agreement. I told them that I never signed an agreement like that and that we NEVER discussed conditional financing or that it would revert to a rental agreement. Well they produced a copy of an agreement that I signed. I can ONLY assume that when they sent the second batch of paperwork out, that this agreement was slipped in and I signed it. I NEVER received copies of the second group of papers as I was told initially that they would be sent to me overnight via fedex. They requested that I bring the car back and they might wave the rental fee. I refuse to return the car as the ONLY paperwork I have is a signed contract with THEM. I was tricked into signing this agreement and NO mention of conditional was EVER told to me. Can they be forced to uphold the original signed contract that I have? Do I HAVE to return the vehicle?

  181. 181. Mad Marv [ November 21, 2014 @ 01:50PM ]

    Sorry to learn about this, Celia.

    The dealership spot delivered the car meaning they executed the sales documents based on their experience of selling the contract to a lender or finance company and it appears they were mistaken. In these cases it's incumbent on the seller to make certain the customer understands the car will be surrendered and the deal unwound if they can't find a finance company to buy the deal. I'm not certain the rental agreement has such language.

    Some states will uphold the original documents and a signed contract so you might want to contact an attorney to determine what rights you have in this case. If no case can be made to support the dealer repossessing the car then you would be remitting your payments to them since they are the originating creditor and technically own the rights of the contract. You need experienced legal advice so find yourself an attorney.

    Good Luck!

  182. 182. Joshua [ November 28, 2014 @ 07:42AM ]

    I recently (as in about a week ago) traded in my 2010 Ford Fusion for a 2012 Ford Focus at a local Ford Dealership. In a number of ways, I really felt pressured to stick around and trade a car that I really enjoyed for an unknown. I was permitted to test drive and inspect new 2014 Ford Focuses (Foci?), and after making it quite clear that I was not interested, I was direct to their Used Car sales and after a fair amount of back and forth, I was talked into the 2012 Focus.

    Thing is, is that given the time, I was not really afforded the opportunity to properly inspect the vehicle, much less actually test drive it. On one hand I can see how I did this to myself; I should have stopped and demanded a test-drive. However, I was given the impression that the 2012 Focus was quite similar to the 2014 I had driven earlier in the night, both inside and out. To further compound matters, I was given use of a loner while things were taken care of. The loaner was a 2013 Focus and, again, I was given the impression that this would be similar to what I had purchased.

    Unfortunately, this was not the case. There are a number of issues that I have with the gauges (such as only having one trip odometer and being unable to monitor my MPG), the vehicle has no cruise control (I occasionally take long trips, and cruise control is a frikkin' lifesaver!), only the front windows are power windows (back are hand-crank, and I prefer to drive with all of the windows down as opposed to running AC when possible), there is noticeably less space (both in the driver/passenger area and trunk) and the best is that when coasting at 15mph or less, the car vibrates and when I'm stopped, well, I am sure an epileptic chihuahua shakes less than this thing does.

    Is there anything that can be done about this, something that I can take to the dealership and get this resolved? I mean, after having the vehicle for a week and driving it for less than that, I really just want my old Fusion back.

  183. 183. Mad Marv [ November 28, 2014 @ 09:15AM ]

    Sorry to hear about this, Joshua.

    After a week of ownership, the title work and all other legal documentation has already been handled which would make it very difficult for the dealer to unwind this sale. Things would get more complicated if you financed your car. "Difficult" doesn't mean impossible so try meeting with the General Manager in person to see what he can do to satisfy you.

    Good Luck!

  184. 184. Beth [ November 29, 2014 @ 05:01AM ]

    My husband and I have been looking at buying a Toyota Camry for a few months now. We've known the exact model and options we wanted. We went in yesterday with the understanding they had located exactly what we were looking for but once we were there and so they could close the deal on black Friday we were pressured into the stripped down model because it was there and available. We had spent half our day there and hours of research and my husband became increasingly impatient to the point of doing anything to get out of there. Can this deal be un-done less than 24 hours after signing to get the model we went in there after?

  185. 185. Mad Marv [ November 29, 2014 @ 07:19AM ]

    Good Morning, Beth.

    Buying a car can be a lot of fun but you must be determined to get what you want if it fits your parameters. I always encourage friends and family to be a little flexible when car shopping because dealers can't stock every trim and option configuration. This is where patience comes into play.

    Unfortunately there isn't a cooling off period where car purchases are concerned though you may still be able to get what you want. As I've responded to many readers here, the dealer can unwind at his discretion. I would immediately return to the store and ask for the General Manager to see if he will do so in exchange for you getting the car you really want. If the trim level and options are available, they may be able to locate it at another store and brought to you for delivery.

    Try it and see what happens.

    Good Luck!

  186. 186. Alfred [ December 02, 2014 @ 08:58PM ]

    Last Nov. 26 me and my wife went to a car dealership, and make the story short bought a car specified as Certified Used Car. We like the car, no question about. So after talking with the salesman and the sales manager for the agreed final price and the trade in of my old car we were directed to the finance manager and did all the paper works. After a long and tedious negotiations with the APR and how many mos. to pay we signed all the documments, paid a downpayment thru my credit card and then out from the office of the finance manager. So, my salesman incharge directly guided me to where the purchased vehicle parked. Before we went out from the dealership lot i realized that there was only one key available and the GPS cd for navigation is lost, so i cannot use the GPS. I told my the salesman that i need the extra key and the cd and i will just comeback next day. The following day i went back to the dealership and ask the salesman and the sales manager for the spare key and the cd, but they said they dont have it and i just have to buy it personally.
    After counple of days went back again to the dealeship and talk the salesman and salesmanager about the spare key and the cd, and still the same answer that they dont have it and instead i will just have to buy.
    Because of my dismay went out and drove back home. Honestly, i fell like i was being cheated and very disappointed with how they treat me after the purchase was done.
    Now my question to you,,,,,can i cancel/dispute my downpayment paid thru my credit card and even thingking of returning the car and just getback my traded car. Also, finance manager keep on calling me now and demanding for some prof of income and prof of address in which until now i just ignore his demand so instead the bank wont approve the loan and instead bring back the car. Hope i can get your advise and comment about this,,,,thanks

  187. 187. Mad Marv [ December 03, 2014 @ 10:44AM ]

    Sorry to hear about your troubles, Alfred.

    If the loan documents are in order and signed it will be very hard for you return the car and unwind the sale. I understand your feeling ill toward the staff over a couple of small issues but those two things probably aren't enough to warrant backing out of a car purchase.

    I would advise you consult an attorney before disputing the charge on your credit card.

    If the dealer can't get the loan accepted by the original lender they will continue until they find one that may not need proof of your income or residence. Since you really like the car, why not provide them the items needed and ask the General Manager about the extra key and navigation CD. You may be surprised at the outcome.

    Good Luck!

  188. 188. carmen [ December 04, 2014 @ 07:17PM ]

    I went into the car dealership to buy a 2014 Dodge Journey and I wanted to trade in my leased Mini Cooperthe Dodge Journey costs $16,999 and I owed 19504 the Mini Cooper leased car that's how much it was worth to them so there was about $3,400 in negative equity.they approved me for a loan from Wells Fargo and we signed a contract on November 12 and then 2 weeks later not quite 2 weeks later a week and a half later they called me and said that I needed to come back in and sign a new contractI was very confused and upset and everything I read online pretty much stated that once you sign a contract a contract is a contract and it's a legal binding documentso now I am I called the bank I called Wells Fargo tonight and in there paperwork they said my loan was closed out on 11:28 and the reason was unwind so I am asking for advice and I'm very very confused. I have already receive paperwork in the mail stating that I am the owner of the car I've already made one payment on the car and I don't know what to doI called many financial services and my old leased car the Mini Cooper Clubman has already been paid off by Wells Fargo but yet when I go to try to make a payment today they said the loan was closed out on 11:28 so my question is if I return the car what will happenbecause the rust darrow dealership that I bought the dodge journey from gave me 16 1050 dollars for a trade in on that car and man and then they took that meant that money and they paid of the many financial services but now wells fargo say I don't even have alone with them so it's very complicatedI have been in touch with the institution for financial matters in Wisconsin and they are the one school monitor car dealerships and license car car dealerships in banks to make sure that they're dealing with customers in a proper manner and I told Wells Fargo I will be reporting them and I will be reporting russ Darrow on this practice

  189. 189. carmen [ December 04, 2014 @ 07:22PM ]

    I'm sorry for all the typos I am using my voice recognition system since it's been a very long and stressful day with this car problem I am seeking any kind of advice I can get right now because I am a single mom with 3 kids and I am a teacher I don't make a lot of money and I can't afford to make any more financial mistakes I have I need this to be rectifiedplease email me with any advice of the sooner the better today is Thursday and tomorrow I is Friday and I hope to be clearing this up soon I just don't know which way to turnthank you in advance for your help

  190. 190. carmen [ December 04, 2014 @ 07:24PM ]

    I'm so sorry I left out the most important part of the information which is that the rust Daryl dealership said that the reason they needed to cancel the first contract was because I needed to pay tax on the least Mini Cooper so in other words they made a mistake with the contract and they forgot to add it in so that's why they want to redo the contract they want to add a thousand dollars on to my loan which is already over $23,000

  191. 191. Rob [ December 05, 2014 @ 03:38AM ]

    I went to a Harley Davidson dealership to buy my first Harley. They said they had me approved with a 2.7 % then 17 days later tell me they don't have the fiancing and I need to switch to Harley Finance at higher rate. I said then let's just forget it then I find out they have already got rid of my trade what can I do?

  192. 192. Mad Marv [ December 05, 2014 @ 04:50AM ]

    Good Morning, Carmen. So sorry to hear about your troubles though I'm certain this will work out and everything will be just fine.

    As I've advised others here, make an appointment with the General Manager at the dealership this morning. Don't waste time dealing with anyone else because they all answer to this person. He has the power to correct the mistake. Make sure to bring your copies of the documents when you arrive and leave drama and emotions at the door. Calmly explain your issues and that you simply can't afford to increase your payment due to a mistake over the sales tax.

    My bet is the GM will make things right and you'll leave a happy customer. If not then quietly leave and make an appointment with an attorney. The attorney can research your issues and provide you with guidance.

    Good Luck!

  193. 193. Mad Marv [ December 05, 2014 @ 06:18AM ]

    Good Morning, Rob!

    I hate to hear stories like this. Both you and the dealership are in a bad spot. They obviously closed the deal without having a final approval in hand and now they've sold your trade and you're no closer to being a happy customer than when you first came in. Return to the dealership and ask for the General Manager. Explain what happened and ask how he is going to solve the problem. If they don't satisfy you then follow the advice I just posted for Carmen above.

    Good Luck!

  194. 194. Alfred [ December 06, 2014 @ 10:12AM ]

    1-2 - Hello Marv Alfred here again, 1st of all my millions thanks 2 u from the bottom of my heart and probably from all the people who got all ur warmth and very positive advices.
    Yes, i did, as per to ur advice and talk the GM, explained to him about my dismay with just a mear spare key and a CD Nav, with an initial positive answer(promise from GM) to comeback and i have to bring Finance Dept asking(prof of income, photo copy of SSS# & prof of address). So, yesterday I went back to the dealership but prior of going the GM's office talk to the service advisor and explained to him(service advisor) that i need the smart remote spare key and reprogram also the CD Nav and everything is "We Owe" as per approved by the GM. Without any delays the service advisor set up everything thru system but probably he needs approval the service advisor went to GM's office and called my attention. So with all the verbal promise and assurance from the GM, I handed down the paper requirments he was asking. Went back to service advisor and thought that everything has been done(spare remote key and CD Nav) instead, he told me blantly that GM didn't approve it and you can leave now,,,,,,Wooooowww!

  195. 195. Alfred [ December 06, 2014 @ 10:14AM ]

    2-2. Marv it was really,,,,,
    Wooooooooowwwwww,,,,i was surprise and fell like being fooled and tricked, (terrible as at may sound haaaa). So to my dissmay and still stay calm, went to Finance Dept and I saw the papers that I have submitted was on top of his table, so i took it and went back to the service area and drove off the lot and went back home. After few minutes I recv a call from the Finance Manager telling me to go back and handed down back the papers I took and even told me that with all the fraud and wrong statements I stipulated of my income in my appllication I will be in legal trouble.
    Honestly, in which I think it is very much obvious that the GM tried to trick and fooled me. I haven't recvd any call from the dealership anymore and promised myself never to go back there, but of course i'm still open for renegotiation but of course be cautious this time.
    Now, my question is:
    1.) Can I just cancel the deal, get back my trade-in, unless car is already registered @ DMV.
    2.) As I've told you paper works all signed up manually and electronically, would I still be approve for financing?
    3.) Am I facing any Legal problem?

  196. 196. Mad Marv [ December 07, 2014 @ 05:57AM ]

    Alfred, I suggest you contact an attorney to mediate on your behalf.

  197. 197. Tonia [ December 07, 2014 @ 09:22PM ]

    I just purchased a car tonight, solely by monthly payment. I had planned on talking dealer down in total cost but he wanted to see if I could even finance. I wanted to wait until Monday because my job offers low financing he said they could get close. He came back 5 times with monthly payments and finally got one we could agree upon. Not realizing all he was doing was getting interest rate changed it was not a deal :-/ and said he gave me the Internet sale price which was a lie it was 400$ cheaper. This was closing time and I was in his office for over 2 hours figuring the deal. Felt obligated to purchase after he finally met my monthy payment then I went to sign papers thinking I had gotten a reduced price on the car to make the deal... Was not the case and my interest is 5.9 I can do that thru my work and 2.39 since its a 2014. I wish I would have gotten the car fax
    Report because I found out it was a rental so did not want to
    Purchase a previous rental. I signed a spot agreement but he said financing was already verified I just had to sign. I was totally disappointed in the sale never have I gotten a car without floor mats, empty gas tank and after getting home seeing the paint chips missing from good of car along with the scrapes on back bumper and the stain in the back seat I was told was from cleaning the car but has yet to go away and feels dry. I emailed them
    With comcerns and ask about return and / or return of warranty extension I purchased but yet to hear back. Any way possible this car can be returned feel
    Like me being a girl and being emotional for purchase since it was first time purchasing without my dad since he had
    Passed got them
    What they wanted and not me

  198. 198. Mad Marv [ December 08, 2014 @ 07:24AM ]

    Good Morning, Tonia. Sorry to learn about your dissatisfaction.

    As you've probably read in the previous responses, I usually recommend customers return for a meeting with the General Manager in these cases.

    Call your finance source and get a firm offer of credit on the car you bought and then present it to the GM for them to match and ask them to rewrite the contract. Then ask for the things you want such as the floor mats and the paint problems to be corrected. Be sure and mention that the internet price was not observed and that you expect that number as well. While everyone in the dealership may not be as eager to satisfy you, most are including the General Manager. Do remember to manage your emotions and keep this as a business deal. I'm certain you'll leave satisfied and happy.

    Good Luck!

  199. 199. Nadarah [ December 11, 2014 @ 11:27AM ]

    Back inJuly I went to Dealership in PA traded in 2005 Jeep Grand Cherokee for a 2011 Hyundai Sonata. Three months later dealership said financing fell through and that I need to return the vehicle, I contacted Attorney General and notified dealership of my intention to follow through, they ask me back in the dealership to resign new paperwork because now they have a loan for me, I go in sign paperwork and now three months later in the middle of the night a tow truck shows up to my house to tow the vehicle, Police are called, tow truck made to drop vehicle, I am fed up I go purchase a different car from a different dealership. What is my recourse here, I have made serveral upgrades to the vehicle, my loan is being reported 211 days late over 40 inquires on my credit report...and not to mention the chrome wheels I purchased that will not fit my new vehicle? What can I do?

  200. 200. Mad Marv [ December 11, 2014 @ 12:54PM ]

    Good Afternoon, Nadarah.

    Whew! I don't think I've read a situation quite like yours before. Six months is an awful long time for the dealership to not have found a lender to buy the contract. Since you're being reported to a credit bureau 200+ days past due, I can only assume the dealership is doing the reporting since they've been the initial creditor from the beginning and I'd like to believe they've sent you payment notices but I suppose not.

    You automatically give the holder of the contract security interest of any upgrades you do to the car which in this case it appears that means the dealer since they've not sold the deal to a bank.

    You can purchase at another store though the payoff will likely have to be remitted to the original dealership since it appears they don't yet have you financed. This is certainly one way to relieve yourself of the problem. If you want to keep the car then I suggest an attorney at this point.

    Good Luck.

  201. 201. Rashida [ December 15, 2014 @ 06:14PM ]

    Mr Marv,

    Please render me some advice if you will. I went to the dealership to look around for a vehicle I am almost out of a bankruptcy and so my situation is different. Well I knee what I wanted and the dealership didn't have it so they talked me into a new 2015 Nissan Pathfinder with a reasonable apr 13% at a car note I can afford without GAP so after being there for 6 hrs with my daughter I signed at a higher car note with GAP I lost sleep and went back the next day. I really wanted out the deal all together because I found a used one with less miles and less money but a 2013 which I was okay with. But feeling compelled they let me get into a 2015 Nissan Altima with same APR. Now I told them I couldn't make a down payment until later in the month which they agreed and put it in the contract that is due on the 30th. Well I got a call today from Financing and they said that the lender wont hold on to the contract that long so what can I do can i go back and give them the car back because I'm not giving up a down payment until the said date. Also I have driven the car since I got it December 7th. Please help!!!

  202. 202. Mad Marv [ December 16, 2014 @ 07:26AM ]

    Good Morning, Rashida.

    Sorry about your troubles.

    It sounds as if the dealer correctly noted on the contract that the down payment would be due at the end of the month. However, few lenders allow this. This does not mean you can return the car. Depending on state law, if everything is in order with the sale documents then the dealer could simply hold the contract in house until you pay the down payment and then sell it to a lender with proof you paid the down payment.

    Contact the dealer and see what alternative arrangements they're offering.

    Good Luck!

  203. 203. Patrick [ December 19, 2014 @ 10:15AM ]

    A few days ago I signed for a ram pick up truck in colorado, and since then the dealer asks for information needed for the lender. He asked me for a bill to prove residency, but the problem is I am military from out of state. I told him that I wasn't a resident of colorado and was planning on getting it registered in my home state. He told me I couldn't do that and to send him a bill. What are my options? please help!

  204. 204. Mad Marv [ December 19, 2014 @ 06:45PM ]

    The lender has asked for your residence proof because the address you stated on your application and your credit report don't match. These must agree for the lander to feel confident your identity hasn't been compromised. I would suggest the dealer re-apply for the loan using the address you plan to use when registering the car. Since you can easily prove this, you shouldn't have a problem. New documents will have to be signed with your correct address including the finance contract. This may affect your taxes and registration fees but is necessary.

    Good Luck!

  205. 205. Dallas [ December 21, 2014 @ 07:51PM ]

    Marv, I purchased a vehicle in August of this year and still have not gotten my plates for it. The dealership had not been returning my calls so I contacted their corporate office. I was contacted the next day by the GM who informed me that they were waiting on the MSO and it would be 15 days. I didn't know what an MSO was until reading this article and some of the questions/responses. The vehicle was sold to me as a "new" vehicle with 4300 miles on it. When I asked why it had that much mileage i was told it was a demo vehicle. After reading some of the other postings I decided to pull a carfax report on the vehicle I purchased. That report shows that the vehicle has been sold by the same dealership twice, me being the second. Do i have reason enough to have them pay me for the depreciation or unwind the deal?

  206. 206. Mad Marv [ December 22, 2014 @ 04:55AM ]

    Good Morning, Dallas.

    The likely reason your plates haven't arrived is the dealership is trying to return the status of the vehicle to "new" by way of retrieving the MSO from the state. If they are able to do this then everything will be as the documents state which indicate "new". In the event this can't be done then you would likely be asked to sign new documents accurately reflecting the "used" status of the car. This would change everything since the value obviously would be affected. Stay in close contact with the GM on this. He's probably embarrassed it's taken so long.

    Good Luck!

  207. 207. Leeann [ December 22, 2014 @ 11:40AM ]

    Hey I've been financing a 2014 Chevy Silverado since September 30th of this year and I just can't afford the payments like I thought I could. Is there anyway I can just return it?

  208. 208. Mad Marv [ December 22, 2014 @ 12:50PM ]

    Good Afternoon, Leeann.

    Well, you could ask the bank to come pick it up since it's unaffordable which is known as a "voluntary repossession" but it would harm your credit and you'd likely be subject to pay the deficiency they would lose at auction. I wouldn't recommend this. Instead, try returning to the dealership and see if they can trade you into something more affordable. Another option would be to try selling the car yourself though you might have to write the bank a check if you can't get enough for it through a private sale. I've also heard of some banks willing to let a prospective buyer assume payments thereby releasing you from any obligation.

    Good Luck!

  209. 209. Nicole [ December 23, 2014 @ 02:26PM ]

    I bought a car but it has not been funded by a bank yet. It has been a week and a half. Can I get my trade back

  210. 210. Mad Marv [ December 23, 2014 @ 06:28PM ]

    Unlikely. Sometimes lenders have small issues that arise such as verifying insurance coverage, guarantee that title has been applied for and verification or your employment. Verifying these can cause funding delays to the dealer but aren't necessarily an indication that something is amiss that could cause the deal to unwind. As long as everything is correct with the documents you signed then it's just a matter of time before that occurs. Your obligation is not abated by the funding delay and you will soon receive a welcome letter from the lender with your account number.

    I trust the car you bought is everything you thought it to be and you're enjoying driving it.

    Good Luck!

  211. 211. Joe [ December 27, 2014 @ 04:27PM ]

    I bought a truck two weeks ago on a Friday. After some serious remorse I tryed to take it back Saturday morning. They said there's
    No way. They said it would basically be a volunteer repo at that point. I hadn't given them my paystubs at that point though. I had been approved by a bank though. Anyways since they said there was absolutely no way to reverse the deal I gave them my stubs.
    Now upon doing more reconisense it looks like the deal would not have been completed if I didn't give them the stubs. Is that possible? Was I lyed to? Could they have reversed it. I really swallowed my pride trying to take it back but I new It was the right thing for my personal situation. Thanks in advance. Oh I'm in Washington state and I did sign a no cooling off period paper. I just hadn't given them my paystub till they told me there was absolutely no way to reverse the deal. And this is a major dealor in the northwest!

  212. 212. Mad Marv [ December 28, 2014 @ 01:42AM ]

    Good Morning, Joe.

    As I've pointed out to others in this article, the dealer is the originating creditor and as such owns the contract rights until it is sold to a bank or finance company. The dealer needed your proof of income in order to satisfy a condition of the lender. If you had not submitted proof then the dealer could have continued submitting your application to other sources until they found one to buy the contract as it was originally written less proof of your income. They also could have collected payment themselves as per the terms of the contract since they're the holder of the contract. And to answer your main question. Yes, they could have unwound the deal the next morning however, buyer's remorse isn't usually a valid reason to unwind a car deal. Though I mentioned it in the article as something for the dealer to consider, I was talking about customer dissatisfaction with the protection products purchased at the time of the sale-not dissatisfaction with the car deal. Both you and the dealer signed binding documents and as such the dealer was simply asking you to fulfill a requirement by producing the pay stubs.

    I sincerely hope the car meets your needs and you enjoy years of happy motoring.

    Good Luck!

  213. 213. Chrissy [ December 28, 2014 @ 09:13PM ]

    I purchased a car on Saturday night... I spoke with the mgr because the price was different from the special pricing I was quoted. They stated it was due to my ability to finance through the special financing company. However since I wasn't approved, I cannot get this deal. I spoke to my credit union who offers the deal and they advised me that this is a special deal for being a member of the credit union. The dealer lied to me. I did notice I signed a waiver of promotion. I assume this voids the deal. When I left the dealership they reminded me that I must submit court orders for my child support, since I recently moved I cannot find the documents. What will the consequences be? Also, would it be too late to ask them for a price match since I also had another dealer put in writing the same negotiated deal from credit union for me? What would my options be at this time. Only one day has passed since I took possession of the vehicle.

  214. 214. Mad Marv [ December 29, 2014 @ 04:19AM ]

    Good Morning, Chrissy.

    Sorry to learn about your confusion.

    Manufacturers often offer extra rebates exclusively available when you agree to finance with their respective financing arms. I have heard of special pricing or additional discounts for people with certain club memberships and on occasion, period specific discounts for credit union members. These are conditional offers and not everyone qualifies. However, since the CU is willing to extend the offer to you then ask the dealer if they will rewrite the deal with the matching discount. Can't hurt to ask.

    Contact the attorney or court who has the records of the original order for your child support proof and make certain all copies are submitted.

    Good Luck!

  215. 215. Rashida [ December 29, 2014 @ 09:37AM ]

    Hello Mr Marv,

    I'm back asking for your advice. Well the day has come for me to make the down payment I was awaiting a big paycheck and did not get it and I can't pay the down payment what are my options? When I spoke to dealership I brought it up the what if and the finance person said they would have to speak with the GM about that. I will be calling them today to inform them about my situation just wanted your advice before doing so.

    Thank you so much in advance

  216. 216. Mad Marv [ December 29, 2014 @ 09:50AM ]

    In this case the dealer may try and get the deal approved at another source without a down payment which will affect the monthly payments. This means you would have to sign another installment contract reflecting the new terms. As far as I can tell, you are not required to do so and if you decide against this route, the original deal would become void. In any event, you should seek out the General Manager with a personal visit and see what can be done to keep you in a car and satisfied. You've already invested quite a bit of time on this and it appears they're trying to help you so bear with them a little longer.

    Good Luck!

  217. 217. Rashida [ December 29, 2014 @ 10:00AM ]

    Thank you for the advice the note is already too high for a sedan vehicle but I agreed due to my bankruptcy situation and the apr being what is was vice what it could be. The lender wont finance the vehicle without the downpayment. Also I'm not in love with that vehicle it wasn't what I wanted just felt that since they was working with me I can work with them. I still have not driven the vehicle only to and from the dealership still less than 100 miles on it. So signing a contract with a higher car note I can not do.

  218. 218. Rashida [ December 29, 2014 @ 12:33PM ]

    Mr Marv,

    The deal was undone done. I didn't have to pay anything and the deal was never funded. I've learned my lesson and won't do this again.

  219. 219. Beth [ January 01, 2015 @ 05:52PM ]

    Hi, I signed papers to buy a used car from a dealer yesterday (Dec 31) late in afternoon and am supposed to give them a check tomorrow. Since today was a holiday and I doubt they processed any registration, can I still back out?

  220. 220. Mad Marv [ January 03, 2015 @ 03:50AM ]

    Good Morning, Beth.

    One of the signature lines of the contract you signed is emboldened in large text "NO COOLING OFF PERIOD". This means exactly what it implies which is the moment you sign the contract, you are obligated to the terms and conditions contained in it. Sound like you're having some second thoughts so return to the dealer and see what they're willing to do to help.

    Good Luck!

  221. 221. colleen [ January 03, 2015 @ 04:41AM ]

    Here's my situation, I'll try to keep it brief....Nov. 22 I purchased a pre-owned car from a local, reputable was s 2015 with just under 3k miles..when I aksed why it was returned i was told the person decided they wanted a truck...perfect! To make a long story short, turns out the vehicle was originally. A rental car, that was in an accident, that was sold st auction with structural damage, "repaired" & puchsed by this dealer, who sold it to me!!!!
    I took the vehicle back, told them what I discovered & gave them an opportunity to make it right. That same day they put me in a brand new car & said they could put me in a lease (which is what I originally wanted) for the same monthy payment..Great!! BUT now they're saying they're trying hard to get me in the lease .....right now, my original loan is still open, my first payment is due....Monday I'm supposed to have an answer on whether the lease goes through but it doesn't look good....what would you do?..
    ...sorry it's so long, actually this is the abridged version :)

  222. 222. Mad Marv [ January 03, 2015 @ 10:58AM ]

    Hello Colleen. Sorry to learn about your problem.

    Personally, I would wait for the result on Monday and weigh options.

    I assume you like the car you bought but are feeling it's value has dropped because of the fact it was a rental that had undisclosed structural damage and the fact someone at the dealership misrepresented the vehicle origin.

    If the lease isn't approved then ask for the General Manager. Present your case and see what he offers. You may be pleasantly surprised.

    The fact that the car was originally a rental doesn't affect it's book value. Even structural damage isn't addressed in the valuation guidelines but it's not a pleasant feeling to discover these facts especially considering auto history reports such as CarFax usually record them thereby making the car's history suspect. If the GM doesn't satisfy you, then you might want to consult an attorney or trade elsewhere.

    Good Luck!

  223. 223. Beth [ January 03, 2015 @ 03:47PM ]

    Hi Marv, thank you for your reply. I was able to go to the dealer and told them that I did not have enough money for the purchase of the car. They tried to get me to get a co-signer, but I don't have one. They were nice enough to not force me to go through with the sale even though I had signed tthe papers. I did ask for a copy of the agreement that I signed with "Void" written on it and initialed by the sales person. They were perplexed/not happy that I requested that but they did comply. Should I have or have not done that? Thanks for you help!

  224. 224. Mad Marv [ January 04, 2015 @ 06:27AM ]

    Glad it all worked out. Nothing wrong in asking for a cancelled copy. Sounds like a dealership you would have high on your list when you are ready to buy so give them first shot.

    Good Luck!

  225. 225. kathy [ January 09, 2015 @ 05:46PM ]

    My family purchased 2 vehicles at a used carlot. They called saying they had found better financing for us and we needed to come that day which was a saturday to sign papers. Upon arrival we found that in order to get this better financing we needed more down payment. Also on 2nd vehicle they insist a vin check needed to be done asap! Plus they want us to return on a weekday to have gps installed and said its mandatory. And...they insisted finance company needed title to my home to prove we own it! I didnt ever use my home for collateral so why should they need copy of title. Are we being scammed and need answers quick as we have a trip there tomorrow for said vin check. Thanks

  226. 226. Mad Marv [ January 11, 2015 @ 06:20PM ]

    Sorry I was unable to answer sooner.

    I don't think you're being scammed. It's likely the dealership spot delivered both deals before getting a final approval from the prospective lender they intended to assign the contracts to. The lower rate was probably a good thing but the lender obviously wants more cash down to do the deal. A VIN check may be a requirement of the lender but I've not heard of this since the dealer is required to perfect title with them as lien holder and an erroneous VIN wouldn't pass state DMV inspection so that's incumbent on the dealer to provide. The GPS requirement is a loan stipulation that wouldn't have been realized until the final loan approval was in and is common with some subprime lenders. As far as a copy of your deed is concerned, the lender needs it to prove you own the home. Perhaps you paid it off years ago and the trade line aged off your credit report or it may be inherited property. When a matured mortgage doesn't show in a credit file and someone claims they own it outright then the lender may require proof. Standard procedure.

    Good Luck!

  227. 227. melinda ado