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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 The sale is then rescinded unless the customer can procure his or her own financing.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



  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! :)

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