Last night I went into a Honda dealer and agreed to purchase a new car. I
really wanted to pay at most $300 a month, over 5 years, but the dealer said
that would not be possible because of the overall cost of the car.The initial
quote the dealer gave me was $395 a month for 5 years. I said that was too
much.Then he asked "Could you do $330 a month?" and I said ok. . I thought he
meant $330 a month for 5 years. Wouldn't you? . So,as I was going over the
contract when I went home, the contract said over a period of 6 years, not 5.
I had told the dealer that I could not do 6 years and yet, that was what was
on the contract. I was so tired last night that I do not know how I could
have signed the contract. Anyway, this morning, I went back to the dealer and
told them that I did not realize that it stated 6 years, after we had
discussed 5 years.The thing is, I had made a $1000 deposit, which I was told
is non-refundable if, after they order the car and it comes in in 2-3 weeks,
I decide I don't want it anymore. I would get back the money if after
ordering the car and it arrives, I take the car. Listen, I ordered the car
last night and I went back to the dealer this morning,less than 12 hours
after. The car won't be at the dealership til 2-3 weeks. Why can't I get the
money back? Is that legal for them to keep it, when I was told that I would
NOT get it back AFTER the car arrives and I decide I don't want it anymore?

 

Legally the situation varies by location. Some places have a "cooling
off period", some do not.

Always read any contract terms very carefully. Tired and late in the
day generally doesn't cut it as a reason to back out of a contract.

John

 

BTW, if you really want out, by all means stop payment on the check.

John

 

Nope, not on auto loans. If the contract is transacted on the dealers
property, it is binding. No Backsies!

"Grumpy AuContraire" <Grumpster@GrumpyvilleNOT.com> wrote in message
news:44556611.F76DBD25@GrumpyvilleNOT.com...
> Virtually all consumer contracts have a three day "cooling off" period
> which is mandated by federal law. IOW, you can back out of a signed
> contract. Regarding a "non refundable" deposit, consult an attorney if
> necessary.
>
> JT
>
>
>
>
> IrieDahta wrote:
>>
>> Last night I went into a Honda dealer and agreed to purchase a new car.
>> I
>> really wanted to pay at most $300 a month, over 5 years, but the dealer
>> said
>> that would not be possible because of the overall cost of the car.The
>> initial
>> quote the dealer gave me was $395 a month for 5 years. I said that was
>> too
>> much.Then he asked "Could you do $330 a month?" and I said ok. . I
>> thought he
>> meant $330 a month for 5 years. Wouldn't you? . So,as I was going over
>> the
>> contract when I went home, the contract said over a period of 6 years,
>> not 5.
>> I had told the dealer that I could not do 6 years and yet, that was what
>> was
>> on the contract. I was so tired last night that I do not know how I could
>> have signed the contract. Anyway, this morning, I went back to the dealer
>> and
>> told them that I did not realize that it stated 6 years, after we had
>> discussed 5 years.The thing is, I had made a $1000 deposit, which I was
>> told
>> is non-refundable if, after they order the car and it comes in in 2-3
>> weeks,
>> I decide I don't want it anymore. I would get back the money if after
>> ordering the car and it arrives, I take the car. Listen, I ordered the
>> car
>> last night and I went back to the dealer this morning,less than 12 hours
>> after. The car won't be at the dealership til 2-3 weeks. Why can't I get
>> the
>> money back? Is that legal for them to keep it, when I was told that I
>> would
>> NOT get it back AFTER the car arrives and I decide I don't want it
>> anymore?

 

Nope, not on auto loans. If the contract is transacted on the dealers
property, it is binding. No Backsies!

"Grumpy AuContraire" <Grumpster@GrumpyvilleNOT.com> wrote in message
news:44556611.F76DBD25@GrumpyvilleNOT.com...
> Virtually all consumer contracts have a three day "cooling off" period
> which is mandated by federal law. IOW, you can back out of a signed
> contract. Regarding a "non refundable" deposit, consult an attorney if
> necessary.
>
> JT
>
>
>
>
> IrieDahta wrote:
>>
>> Last night I went into a Honda dealer and agreed to purchase a new car.
>> I
>> really wanted to pay at most $300 a month, over 5 years, but the dealer
>> said
>> that would not be possible because of the overall cost of the car.The
>> initial
>> quote the dealer gave me was $395 a month for 5 years. I said that was
>> too
>> much.Then he asked "Could you do $330 a month?" and I said ok. . I
>> thought he
>> meant $330 a month for 5 years. Wouldn't you? . So,as I was going over
>> the
>> contract when I went home, the contract said over a period of 6 years,
>> not 5.
>> I had told the dealer that I could not do 6 years and yet, that was what
>> was
>> on the contract. I was so tired last night that I do not know how I could
>> have signed the contract. Anyway, this morning, I went back to the dealer
>> and
>> told them that I did not realize that it stated 6 years, after we had
>> discussed 5 years.The thing is, I had made a $1000 deposit, which I was
>> told
>> is non-refundable if, after they order the car and it comes in in 2-3
>> weeks,
>> I decide I don't want it anymore. I would get back the money if after
>> ordering the car and it arrives, I take the car. Listen, I ordered the
>> car
>> last night and I went back to the dealer this morning,less than 12 hours
>> after. The car won't be at the dealership til 2-3 weeks. Why can't I get
>> the
>> money back? Is that legal for them to keep it, when I was told that I
>> would
>> NOT get it back AFTER the car arrives and I decide I don't want it
>> anymore?

 

Nope, not on auto loans. If the contract is transacted on the dealers
property, it is binding. No Backsies!

"Grumpy AuContraire" <Grumpster@GrumpyvilleNOT.com> wrote in message
news:44556611.F76DBD25@GrumpyvilleNOT.com...
> Virtually all consumer contracts have a three day "cooling off" period
> which is mandated by federal law. IOW, you can back out of a signed
> contract. Regarding a "non refundable" deposit, consult an attorney if
> necessary.
>
> JT
>
>
>
>
> IrieDahta wrote:
>>
>> Last night I went into a Honda dealer and agreed to purchase a new car.
>> I
>> really wanted to pay at most $300 a month, over 5 years, but the dealer
>> said
>> that would not be possible because of the overall cost of the car.The
>> initial
>> quote the dealer gave me was $395 a month for 5 years. I said that was
>> too
>> much.Then he asked "Could you do $330 a month?" and I said ok. . I
>> thought he
>> meant $330 a month for 5 years. Wouldn't you? . So,as I was going over
>> the
>> contract when I went home, the contract said over a period of 6 years,
>> not 5.
>> I had told the dealer that I could not do 6 years and yet, that was what
>> was
>> on the contract. I was so tired last night that I do not know how I could
>> have signed the contract. Anyway, this morning, I went back to the dealer
>> and
>> told them that I did not realize that it stated 6 years, after we had
>> discussed 5 years.The thing is, I had made a $1000 deposit, which I was
>> told
>> is non-refundable if, after they order the car and it comes in in 2-3
>> weeks,
>> I decide I don't want it anymore. I would get back the money if after
>> ordering the car and it arrives, I take the car. Listen, I ordered the
>> car
>> last night and I went back to the dealer this morning,less than 12 hours
>> after. The car won't be at the dealership til 2-3 weeks. Why can't I get
>> the
>> money back? Is that legal for them to keep it, when I was told that I
>> would
>> NOT get it back AFTER the car arrives and I decide I don't want it
>> anymore?

 

"Carfan" wrote

> Nope, not on auto loans. If the contract is transacted on the dealers
> property, it is binding. No Backsies!

Is that different from getting a loan at a bank -- on their property? When I
applied, they wouldn't submit the paperwork for three days because of the
law we're talking about.

 

"Carfan" wrote

> Nope, not on auto loans. If the contract is transacted on the dealers
> property, it is binding. No Backsies!

Is that different from getting a loan at a bank -- on their property? When I
applied, they wouldn't submit the paperwork for three days because of the
law we're talking about.

 

"Carfan" wrote

> Nope, not on auto loans. If the contract is transacted on the dealers
> property, it is binding. No Backsies!

Is that different from getting a loan at a bank -- on their property? When I
applied, they wouldn't submit the paperwork for three days because of the
law we're talking about.

 

Howard Lester wrote:
>
> "Carfan" wrote
>
> > Nope, not on auto loans. If the contract is transacted on the dealers
> > property, it is binding. No Backsies!
>
> Is that different from getting a loan at a bank -- on their property? When I
> applied, they wouldn't submit the paperwork for three days because of the
> law we're talking about.
>



The "statute of frauds" may also be applicable in this case.

JT

 

Howard Lester wrote:
>
> "Carfan" wrote
>
> > Nope, not on auto loans. If the contract is transacted on the dealers
> > property, it is binding. No Backsies!
>
> Is that different from getting a loan at a bank -- on their property? When I
> applied, they wouldn't submit the paperwork for three days because of the
> law we're talking about.
>



The "statute of frauds" may also be applicable in this case.

JT

 

Howard Lester wrote:
>
> "Carfan" wrote
>
> > Nope, not on auto loans. If the contract is transacted on the dealers
> > property, it is binding. No Backsies!
>
> Is that different from getting a loan at a bank -- on their property? When I
> applied, they wouldn't submit the paperwork for three days because of the
> law we're talking about.
>



The "statute of frauds" may also be applicable in this case.

JT