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Started By
Message
re: Friend bought new truck, dealer reneged on sale price
Posted on 4/5/18 at 8:44 pm to X123F45
Posted on 4/5/18 at 8:44 pm to X123F45
Was there a misrep of the vehicle or a term not met? Maybe loan verification not completed? Its certainly busy season for auto financing but 60 days is a bit extreme to fund.
Would love to know the original numbers of the contract.
Would love to know the original numbers of the contract.
0
Posted on 4/5/18 at 8:49 pm to deltaland
quote:You have a stupid friend.
He gave the truck back told them to find a truck equal to his trade in and give it to him.
quote:Nevermind, redundant, you’re all stupid
deltaland
Mississippi State Fan
Posted on 4/5/18 at 9:39 pm to deltaland
I would probably end up splitting the difference with them...but since they came with the threatening bullshite, I would bluff the shite out of them.
Posted on 4/5/18 at 9:43 pm to deltaland
All sales are final.
Posted on 4/5/18 at 10:29 pm to el Gaucho
quote:. No one is doing that. Quit blaming others for your shitty sales tactics. You don’t have to agree to sell it for what the customer wants. That is your fault.
you jerks come in with your internet deals and your 5k off you're taking food out of our kids mouths
Posted on 4/6/18 at 12:07 am to deltaland
Their F-UP. He should be fine. Screw em!! 
Posted on 4/6/18 at 4:50 am to deltaland
quote:
He gave the truck back told them to find a truck equal to his trade in and give it to him. Which IMO was stupid I would have told them to piss off and kept driving the new one
Your friend is a dumbass.
He needs to put this on blast and shame the dealer into bringing him in for a free truck or something.
Posted on 4/6/18 at 4:56 am to TH03
quote:
Let's see what a judge says about a signed contract that you made an oopsie on
This, this, and more of this.
Posted on 4/6/18 at 5:16 am to starsandstripes
I've never heard of these things happening when paying with cash.
Posted on 4/6/18 at 7:24 am to CAD703X
quote:
lol dealer signed the paper right?
LOL @ dealer.
all of this
Posted on 4/6/18 at 8:00 am to deltaland
You should have told the dealership to frick themselves. A signed legal agreement is binding for both parties. They can’t just “not honor it”. They didn’t check their work, they can lose their money. And it would hold up in court every time
Posted on 4/6/18 at 8:57 am to jchamil
quote:
Who would he be making the payments to if the loan hasn't been funded? Payments straight to the dealership?
He made a big payment to the dealership in the form of a trade in...dumbass
Posted on 4/6/18 at 9:01 am to the LSUSaint
quote:
He made a big payment to the dealership in the form of a trade in...dumbass
That is not a payment towards the loan. That is a payment before the loan originates. You would be given your trade in vehicle back in this instance, plus any damages for extra mileage on it.
You could, for a dumb hypothetical, put down $25k on a $26k vehicle, finance $1k and still have to bring the car back if the loan never funds. Either that or pay the balance out right.
Posted on 4/6/18 at 9:05 am to deltaland
If the dealer signed the documents, they're screwed.
It would be fun to hire an attorney just to frick with 'em.
It would be fun to hire an attorney just to frick with 'em.
Posted on 4/6/18 at 9:05 am to TH03
quote:
That is not a payment towards the loan. T
It's a payment by one party to the other. If the loan is a 3rd party, so what. Party 1 made a payment to party 2 and BOTH signed
Posted on 4/6/18 at 9:24 am to Tempratt
My brother is 20 plus years in financing in auto dealerships...I have a call to him to clarify
But my hypothetical is leaning towards the finance company had an issue....but let's be clear, 99.9% of these deals are done electronically with the paperwork from finance companies being printed on the spot after approval. And signed there.
Finance company may have gone out of biz...been bought out, etc right at the time this transaction was to clear. Terms were studied and the BUYER'S credit may have gone down (for several reason) They contact the dealer and let the dealer know the only way to get those terms with this buyer is to get another 5k down. Dealer runs the app thru every lender available and can't find any to buy the loan...after exhausting all options, they contact the buyer and explain options.
Buyer agrees because there is something we don't know that made him cave.
Now here's the sticky part...he asked for something of equal value to his trade because the dealer has already shipped his trades vehicle to auction and it's gone!
IMO that's where the lawyers would get involved because you have one of the 3 parties (buyer seller financer) ACCEPTING PAYMENT in the form of trade and reselling that trade. And its party 2 and 3 that have an issue AND A CONTRACT between themselves (dealer and finacer) that becomes the issue. The dealers contract with the finance company was the issue....so the question is why? Let's assume the credit company is still operating and all good...why did they refuse the signed deal from the dealer? Answer is dealer mistake of some kind..just hard to pinpoint because it is double and triple checked by a 3rd person at dealership...that's why you get sent to a different person for final signatures.
And then comes the 60 days...wtf happened? I think he could have come out of this with a victory and somehow held the dealership yo the terms. But all this means nothing if it was found by the finance company that the buyer misrepresented himself somehow (income, etc)
But my hypothetical is leaning towards the finance company had an issue....but let's be clear, 99.9% of these deals are done electronically with the paperwork from finance companies being printed on the spot after approval. And signed there.
Finance company may have gone out of biz...been bought out, etc right at the time this transaction was to clear. Terms were studied and the BUYER'S credit may have gone down (for several reason) They contact the dealer and let the dealer know the only way to get those terms with this buyer is to get another 5k down. Dealer runs the app thru every lender available and can't find any to buy the loan...after exhausting all options, they contact the buyer and explain options.
Buyer agrees because there is something we don't know that made him cave.
Now here's the sticky part...he asked for something of equal value to his trade because the dealer has already shipped his trades vehicle to auction and it's gone!
IMO that's where the lawyers would get involved because you have one of the 3 parties (buyer seller financer) ACCEPTING PAYMENT in the form of trade and reselling that trade. And its party 2 and 3 that have an issue AND A CONTRACT between themselves (dealer and finacer) that becomes the issue. The dealers contract with the finance company was the issue....so the question is why? Let's assume the credit company is still operating and all good...why did they refuse the signed deal from the dealer? Answer is dealer mistake of some kind..just hard to pinpoint because it is double and triple checked by a 3rd person at dealership...that's why you get sent to a different person for final signatures.
And then comes the 60 days...wtf happened? I think he could have come out of this with a victory and somehow held the dealership yo the terms. But all this means nothing if it was found by the finance company that the buyer misrepresented himself somehow (income, etc)
This post was edited on 4/6/18 at 9:25 am
Posted on 4/6/18 at 9:42 am to Upperdecker
quote:
You should have told the dealership to frick themselves.
Agreed.
quote:
A signed legal agreement is binding for both parties.
Agreed. For both parties.
quote:
They can’t just “not honor it”. They didn’t check their work, they can lose their money. And it would hold up in court every time
They didn't change his price. His interest rate changed because they had to go through another lender.
Did you even read the thread?
You certainly don't read your paperwork when buying a car.
Posted on 4/6/18 at 10:30 am to the LSUSaint
quote:
He made a big payment to the dealership in the form of a trade in...dumbass
Ok, but that's not what I was replying to. The poster I was replying to was clearly talking about making a payment on the loan, not a down payment on the vehicle. A down payment on the vehicle whether it be by cash or trade-in doesn't have anything to do with financing being secured within the days stated in the contract, the only thing the trade-in/down payment has to do with that would be the dollar figure for the amount of the loan
Posted on 4/6/18 at 10:32 am to the LSUSaint
quote:
It's a payment by one party to the other. If the loan is a 3rd party, so what. Party 1 made a payment to party 2 and BOTH signed
It’s a payment in connection with a loan. The trade in is specifically mentioned in the contract as being returned in the event of the loan not funding, with additional damages paid in the event of extra mileage being put on that trade in. You know, the contract BOTH signed.
You’re wrong here, man. Sorry.
Here's my agreement from last summer
Trade in is specifically mentioned as returned.
This post was edited on 4/6/18 at 10:48 am
Posted on 4/6/18 at 11:06 am to X123F45
Why would you sign a conditional agreement? I never sign anything conditional, refuse doc fees and no prepayment penalties, have walked out for as little as $600. I don't have to buy, they have to sell at some point.
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