- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Friend bought new truck, dealer reneged on sale price
Posted on 4/5/18 at 1:18 pm to MrLarson
Posted on 4/5/18 at 1:18 pm to MrLarson
quote:
That's why they have 7 year loans.
While I agree it is dumb to take a long loan over anything above the rate of inflation, I will let them extend 0-1% as long as they will allow.
0
Posted on 4/5/18 at 1:20 pm to Tiger Prawn
quote:
Does your buddy have loan paperwork signed by him AND the dealership? If so, he needs to tell the dealership he wants the same truck and same interest rate that's on the sales and financing contracts THEY signed or else he's going to be the one calling his lawyer.
Jesus Christ people....
Try reading the first fricking sheet of paper you sign. I hate dealers as much as anyone, but not reading what you sign is your own fault.
Eta: downvotes away. The conditional delivery is required in Louisiana for this exact reason.
This post was edited on 4/5/18 at 1:24 pm
Posted on 4/5/18 at 1:23 pm to X123F45
quote:
Try reading the first fricking sheet of paper you sign. I hate dealers as much as anyone, but not reading what you sign is your own fault.
So because of the fine print on that particular document, what's stopping every dealer from reneging on a price on a deal and citing clerical error, etc?
Posted on 4/5/18 at 1:24 pm to X123F45
quote:
downvotes away.
Don't worry, we will.
ETA: There is no way a legit screw up was made that adds $100 to the monthly payment. This dealership is being shady.
ETA 2: Oh yea, and it took them two months to catch this legit error? GTFO.
This post was edited on 4/5/18 at 1:28 pm
Posted on 4/5/18 at 1:26 pm to deltaland
quote:
bought a new F150, drove it for 2 months. Papers were signed
the dealership must eat this one....they have no right to it...papers signed hands were shook....moving on
that would be like him calling the dealership and saying hey this truck is not as smooth of a ride as you promised i want 5k back of my money...they would laugh their asses off at you.
tell your buddy to tell them to lose his number and tell everyone who would listen including the news how shitty that dealership is.
This post was edited on 4/5/18 at 1:35 pm
Posted on 4/5/18 at 1:27 pm to 50_Tiger
It isn't fine print. It is the sole purpose of said document.
The sale is not finalized when you sign. The sale is finalized when the dealership is paid by the financing body. If they are not, or the financer changes loan requirements or terms, you are legally obligated to resign or return the vehicle within...24 or 48 hours of them telling you.
If you do so, you can walk away from the sale, no penalty. If you don't, youre liable for all expenses and depreciation.
It is there to protect both parties. Not just the dealer.
ETA: I have had to do this before.
He should have read the paperwork and stuck them with the slightly used vehicle.
The sale is not finalized when you sign. The sale is finalized when the dealership is paid by the financing body. If they are not, or the financer changes loan requirements or terms, you are legally obligated to resign or return the vehicle within...24 or 48 hours of them telling you.
If you do so, you can walk away from the sale, no penalty. If you don't, youre liable for all expenses and depreciation.
It is there to protect both parties. Not just the dealer.
ETA: I have had to do this before.
He should have read the paperwork and stuck them with the slightly used vehicle.
This post was edited on 4/5/18 at 1:31 pm
Posted on 4/5/18 at 1:32 pm to X123F45
Fair enough 
.
So what about OP's friend? He was driving around for 2 months. I haven't heard of a dealership needing two months to obtain financing for a vehicle or getting paid for one.
We use to have to make sure our deals were closed out by the end of the month.
. So what about OP's friend? He was driving around for 2 months. I haven't heard of a dealership needing two months to obtain financing for a vehicle or getting paid for one.
We use to have to make sure our deals were closed out by the end of the month.
Posted on 4/5/18 at 1:33 pm to deltaland
Your "friend" is an absolute moron.
What did they give you in return, beside the BBC?
What did they give you in return, beside the BBC?
Posted on 4/5/18 at 1:35 pm to X123F45
(no message)
This post was edited on 5/8/18 at 1:41 pm
Posted on 4/5/18 at 1:36 pm to X123F45
quote:
It isn't fine print. It is the sole purpose of said document.
How do you feel about the following?
quote:
BEWARE OF 'SPOT DELIVERY' AND DON'T BE PUT ON THE SPOT!
So you purchased a beautiful new car, signed all the necessary paperwork, and drove it right off the lot with a big smile on your face. The dealer got you approved "on the spot" – or so you thought.
A few days or weeks later, the dealer calls and asks you to return to "sign a few more papers." They say, "We couldn't get the car financed, and you need to sign a new loan with another bank," or "You need someone to co-sign," or "Give us another $1000 and we can do the deal," or "We need to increase your monthly payment to get this done."
The dealer may even have delayed paying off a traded vehicle loan or refused to mail registration papers, all to place additional pressure on you to either do as instructed, or face dire consequences to your credit.
Sound familiar? It gets worse.
If you refuse, the dealer may threaten to repossess the car, tell you that you have no legal entitlement to keep it, or even make you wait for hours at the dealership under some excuse, just to wear you down. This situation is most common involving consumers with bad credit, since dealers perceive that such people are vulnerable and easy to take advantage of.
Most consumers assume the dealer is telling the truth and will do whatever the dealer says, resulting in higher payments, additional money being spent over the life of the loan, and/or thousands of dollars in increased "hidden" costs. Those who refuse see their cars repossessed.
What is happening here? It's a scam. Dealer fraud. Unlawful. Illegal.
Call it what you will. The industry has given it a name: Spot Delivery, a description which refers to the dealer placing a consumer in a car "on the spot," to get the sale, only to "yo-yo" them back at a later date for additional funds. Played to perfection, a dealer can reap thousands of dollars in unearned fraudulent gain.
What You Should Know About Spot Delivery
If you signed purchase documents and registration applications and if you obtained insurance for the vehicle, had a new license plate put on the car, and/or had your old plate transferred, the car belongs to you.
Spot Delivery happens to unsuspecting consumers throughout the United States. It is very popular with dealers in Louisiana, Texas and California. If you find yourself in this situation, the chances are good that you have legal remedies available to right this wrong.
Posted on 4/5/18 at 1:37 pm to deltaland
quote:
Said they refuse to honor the loan and he had to come resign for new loan agreement.
He (you) just gets dumber. If they told me they wouldn't "honor" the loan, I would have told them to tear the paperwork up and send me the title.
Posted on 4/5/18 at 1:37 pm to shawnlsu
Yep, hes as dumb as dog shite.
And the part about demanding something equal to trade value....OMG, is he too stupid to know that trade value is LOWER than actual vehicle value?
This friend is yours wife will cheat on him
And the part about demanding something equal to trade value....OMG, is he too stupid to know that trade value is LOWER than actual vehicle value?
This friend is yours wife will cheat on him
Posted on 4/5/18 at 1:39 pm to 50_Tiger
quote:
So what about OP's friend? He was driving around for 2 months. I haven't heard of a dealership needing two months to obtain financing for a vehicle or getting paid for one.
Dealership actually only has 30days from the submission of his app to be funded.
They either didn't send it or didn't notice they weren't paid.
He had the perfect opportunity to bend the over a barrel.
He could have renegotiated at used or demo pricing.
I'd have gone in dry on that finance guy.
Posted on 4/5/18 at 1:41 pm to X123F45
After 2 months, that paperwork is void, baw. He should've fought them.
This post was edited on 4/5/18 at 1:42 pm
Posted on 4/5/18 at 1:43 pm to Hogwarts
quote:
A true hot head would have driven around the parking lot doing donuts with the finger out the window yelling, "come and take it!!!".
Kenny Powers style!
Posted on 4/5/18 at 1:43 pm to LNCHBOX
quote:
How do you feel about the following?
...you didn't read what I wrote did you?
He wouldn't have had a permanent plate. The vehicle was never registered. The dealership eould not have paid taxes on a unit they werent paid for.
The vehicle is not his.
BUT... THE CONDITIONAL DELIVERY RECIEPT ALLOWS HIM TO DROP OFF THE TRUCK AND WALK AWAY SCOTT FREE.
Not only that, if he had a trade, they are required to return it to him AND reimburse him for any damage or mileage incurred.
Once again, y'all really need to read what you are signing
Posted on 4/5/18 at 1:44 pm to TH03
I would have just kept paying the payments on what was agreed. Guarantee whoever he's paying to is accepting his monthly payments.
Posted on 4/5/18 at 1:44 pm to TH03
quote:
He should've fought them.
No... He should have used it to his advantage.
Why the hell would you not break it off in the dealership?
Posted on 4/5/18 at 1:44 pm to X123F45
quote:
...you didn't read what I wrote did you?
He wouldn't have had a permanent plate. The vehicle was never registered. The dealership eould not have paid taxes on a unit they werent paid for.
The vehicle is not his.
BUT... THE CONDITIONAL DELIVERY RECIEPT ALLOWS HIM TO DROP OFF THE TRUCK AND WALK AWAY SCOTT FREE.
Not only that, if he had a trade, they are required to return it to him AND reimburse him for any damage or mileage incurred.
Once again, y'all really need to read what you are signing
He had it for two months, GTFO with this nonsense. You're spouting off like a know it all when you just look like a fool.
This post was edited on 4/5/18 at 1:45 pm
Posted on 4/5/18 at 1:45 pm to X123F45
One could argue in court that two months is more than enough time and the vehicle is legally his.
Page 5 of 11
Popular
Back to top
Follow TigerDroppings for LSU Football News