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I signed a loan agreement, now they want to change it?
I bought a used Nissan truck from a Honda dealership. I put $3,000 down and signed an agreement for 72 months at $220.90 per month. I got a call today, six days later, saying they couldn't finance the loan at that rate, but could for $17 more per month.
Can they do that? That's another $1,200!
3 Answers
- 9 years agoFavorite Answer
That's illegal. A contract binds both parties.
Report them to the State bureau of licensing and regulation.
And put the vehicle where repo agents can't find it.
You may also have to file a lawsuit for breach of contract.
- Anonymous9 years ago
Somewhere on the contract you signed, it says something to the effect of "pending credit approval". If they can't find a bank to finance you at that rate, there is no deal. You either return the car or accept the new terms.
- gLv 79 years ago
Bruce,
Sure they can do that. But you do not have to agree to their terms. Get a loan independently from the car dealership, you will get a much better rate. Go to your bank or credit union to find better terms.
