well after dropping my car off for some flaws in the paint at the GM body shop, i got a call from the finance guys apparantly they gave me an interest rate that they couldnt live with and now want me to resign all the paper work for a higher rate same montly payment

what you guys think
tell em to **** off, i didnt ask to renegotiate the sale price when i got home and that they should eat this one?\\

or should i get a lawyer for attempted breach of contract?

keep in mind i have had it almost a month and have 1432 miles on it already

 

You don't have to do anything, you have a signed agreement. If they try to make you sign anything, or take action against you, then you should get a lawyer. If the paperwork is done then it should not be a problem. Contract law does not allow a seller to reneg on a deal because they made a mistake. Their problem, not yours.

 

I would be very suspicious. First how can they raise the interest rate and not the payment? Only way I can think of is the extend the loan. In the end

For example:

20,000 over 48 months @4.9% interest is : 459.68/month ( 2064.66 total interest paid)

So lets kick it up to 6.9% and extend the loan 3 months

20,000 over 51 months @6.9% interiest is: 453.58/month ( 3132.66 total interest paid)

payment is a bit lower but sudden you just paid 1068 extra in interest. Yep, you just paid an extra 1000 bux in your loan. I am not sure who you finance through but chances are the dealer is making extra cash on the deal as well.

 

they want to lower the selling price to make up the diff. of the higher rate
i am going to sit on it until they say anything else
my 1st payment is sceduled for direct debit on the 14th and they cant do anything at that point so i am going to ride it out, meanwhile my car is accros the highway at the bodyshop.
can they initiate a repo or cancel the loan?

 

0h it is GMAC i am finaced with and they want to go to another lender

but either way they claim the rate must be raised

well sounds like BS to me

 

Tell them you knwo a guy on the corner that will sell the some more crack cause thats what they are on.....

NO reason for that, unless they are going to lay out a killer deal for you tell them to stop screwin around with you, you dont even haev to deal with them you can take your car to any chevy dealer... tell them your never stepping foot on their lot again if they keep it up and you will tell everyone they are scammers

 

I would hope not, you have the car titled in your name correct?

If you made a bad deal and wanted to reneog. I am sure the dealer wouldn't let you either...


I am with Chevy4Life85, they are trying to pull a fast one on you. You could call GMAC and talk with them about it and see what they say. I wouldn't deal with the dealer at all.

 

If you have an agreement in place, either written or verbal, they have a legal and moral obligation to honor the arrangement.

I think it would be a good idea to just ride it out as you stated previously. Don't get aggressive or upset, because it might cause you to do something which could effect your situation negatively.

You could still investigate what they want exactly, ask what they are offering, and how it would benefit you. Entering negations does not imply you will agree to anything.

Just don't let them talk you into anything without adequate proof or explanation.

 

Agreed. And don't sign any paperwork when you pick your car up from the bodyshop. They might slip in that they are raising your interest rate in the middle somewhere .

 

Exactly...................don't sign anything from this dealer and take your car in to another dealer to do the work. They are trying to scam you for more money. A deal is a deal. Call GM directly if you need to and complain about the harrassment.

 

I had the same thing happen for me but in a good way, they called to say they screwed up and gave me a higher interest rate then what I should have gotten. I was set at 5.9% and they lowered it to 4.9%. Payments were cheaper and they didn't won't make anymore money off me then when the original deal was setup.

I would be cautious. Don't sign ANYTHING except your paper work to pick the car up from the dealer. They should eat it. If they threaten legal action, get a lawyer and a copy of the written agreement of the sale and take them to court and make some $$ in the end. This can work in your favor.

 

well i was told that i would get it back on thurs so we shall see if so then i will get the windows tinted same day

hopefully the finance dept cant pull my loan or anything and it gets nabbed

ill be happier once the first payment is taken out on the 14th

BTW my bday is Sat. im getting drunk

 

I remember reading something awhile ago, something like "things to know before buying a car"

they had something on there about SLAMMING. where the dealer lets you take the car.. but calls days later to tell you that something came up and they can't give that interest rate. i cant find the article but sounds like something that is happening to you. i would have to say though that if you have a signed contract... they cant do anything.

so tell them to do a dance

 

Listen your getting pulled around... Your done, the finance dept at the dealer ahs nothing to do with it as long as you signed a paper for the loan on the car. Its yours not theirs, you dont even ever have to go there again. They cant take away your loan, dont worry about it, classic greedy dealer is what it soudns like to me, let me call my buddy though he works at a dealership... i'll be back

 

I couldnt talk to long he was at an auction but he sain as simple as possible (excuse his french) TELL THAT DEALER TO GO F*** THEMSELF.....

As long as you already have a loan they are just tryin to sucker you in so they can make more money

basically my advice but with stronger words

 

well see tomorow, im takin pics done or not
also no calls today from the finance punks
I really appreciate everyones input on this matter esp all those that asked someone else ie zinner and chevy4life85



Im gonna get a lawyer if this is taken to a further level



but look forward to pics of it after P & B and tint

 

and they wonder why they call them stealerships......


f'in scum plain and simple, get the BBB involved with this if the harassment continues and you might want to send an email to a local paper to get some media involved....this should shut them up for good, lost business can cause them to lose way more than gain!

 

The first time I bought a car, I had that happen to me. I had signed a ton of papers, signed the title of my old car over to them for trade in, and was told everything was set and good to go. That was on a Thursday. Come Monday, I got a call from the dealership saying that they couldn't get me financed without a co-signer or more money down. I told them that I couldn't do either, so they said bring the car back. I was out of town for work and told them I wasn't going to be back until Tuesday. They then told me "if the car isn't back at the dealership by closing Tuesday night, we're going to report it stolen". So I put another 800 miles on it (1100 miles total) and then returned it to them Tuesday night.

My room mate around the same time went out to another dealership on a Saturday and had something similar happen to him. They told him they could get him financed and sent him away with the car. Later that same night he wrecked it into a guard rail (he was drinking) and took out the whole passenger side. Monday the dealership called and said they couldn't get him financed and to either get a co-signer or bring the car back. He waited till after they closed and then brought the car back and left it, not telling them anything about what happened to it over the weekend. The dealership was calling my apartment every 15 minutes the next day looking for him. As it turned out, he had lied about his driver's license being legit, it had been suspended and he reported it lost so that he could still have it for ID at the local watering holes. The salesman was in so much trouble over this that he offered to co-sign on the loan if my room mate couldn't find anyone. My room mate left for the Marines a week later. The salesman got screwed.

 

MKEN,

Ouch. Since you mentioned wrecks and drunks. Here is my story.

I was coming home one night from work (11pm, I work swing shift) and I noticed a Vette had hit a guard rail and was pinned under it. So I pulled over to help. There was already a guy there and another trucker also walking over The guy was in the drivers seat with the car at full throttle in reverse trying to back out.

Now the front end was totally fucked the wheels where pinned under the rail and folded in on their sides. The guy was SMASHED and was trying to get lose before the cops showed up. So we are all standing there asking if he was ok ect, trying to get him to calm down when a cop pulls up.

The guy gets out of the driver seat, hops the guard rail and goes down the bank running for his life. I can only imagine what would of happen if the car broke lose and he went shooting back into traffic (65 mph interstate).

 

The same thing happened to me about 8 or 9 years ago when i tried to get a mitsubishi eclipse. Signed the paperwork, traded the car, took the new (used) car. They called a couple days later and said the same thing....couldn't get financed... want the car back.... (although they didn't threaten me with calling it in stolen....)

What was great is i lived about three hours away from where I bought it. So between those miles and the miles i put on it just because....

Needless to say i had fun.

I was young though.. About 19 i think. They really do try and scam you whenever they can.

 

lot has happened,
i went to pick up my car from the body shop and they told me to go see finance before i could even SEE my car

i went to the finance dept, lawyer on call
after an talk, i said keep the car, well i would have had this 790 dollar charge on mileage, plus the Down payment wouldnt be in my account for another week
i was forced to sign a contract(under duress as the law says)
the conversation was audio recorded and now im getting some help

but still have the car, paint looks great
bout to go have it tinted in a day or so but today is my BDAY im 21

im getting drunk, work let me split at noon to go to tha bar

keep ya posted

 

well that sucks. Good luck with everything. Hopefully they will have to change the contract later again and waste there time and yours to do it. Hopefully you can prove a point to them.

 

Doesnt sound right man If you already had a contract signed then you got screwed really good. Do yourself a favor and call a lawyer if you didnt already and make sure everything was done legally

 

This is the point where you should get a lawyer.

Hearing about stuff like this kind of gets me fired up and ready for a fight

What you signed is a voidable K(contract). That means it's not valid due to the fact you did not have "contractual capacity".

Contractual Capacity = mentally competent adult of sound mind & free of undue duress.

Apparently, from what I read you were under "undue duress" during the signing of the K.

You should not have signed anything in the first place though. If you already have had all the papers signed then you had no obligation to resign anything, you would be well within your rights to tell them where to lodge their new offer. Did they tell you they had a lawyer on call? If they did, that was meant to scare you into doing what they want.

Did you record the conversation or did they? If you did without their knowledge it may not be admissible in court so be careful with that.


I don't know the full story or what they said to you, but based on what I read I think you're best course of action is to contact a lawyer. If they threaten you with a lawyer again simply get up and walk away, and say you'll have your lawyer contact them on this issue. (It is common business pracice that when the term "lawsuit" arises all communication will be cut except from the 2 parties' legal representation.)

Looks like they want to play hardball, you need to let them know they are out of their league.

 

what was wrong with the pain?