I was looking over a bad deal that my wife got before I met her and there was binding arbitration which gave up her rights to sue the dealership but they could sue her and also dictate terms that were very one sided. How do you guys handle it? Do you simply refuse to sign it ?
K
I don’t believe the idea of being a LeaseHackr has to do with trying to reinvent all the paperwork required by the government / DMV. Most of the time, that’s what an arbitration agreement is… but if it’s something that is not required, I guess you could ask otherwise and they might just deny you the deal altogether.
Like anything else, you have to read it carefully.
Some arbitration agreements state that both parties agree to resolve disputes through arbitration rather than sue in court. That’s not necessarily a bad thing, since most cases involving car dealerships and consumers are for relatively low dollar amounts, so the delays and time you would otherwise spend will be substantial. Arbitration is useful for such smaller cases.
What you’re describing (giving up your right to pursue a claim against a dealership) is a flat-out release of your rights. That I wouldn’t sign under any circumstances. I’d trash an entire deal over that.
Did the language you get say that your wife gives up all of her rights to assert a claim, or just that she agrees to forego public courts for binding arbitration?
So you would/have Signed them with no problems?
Toyota’s contract has it on there. Basically if you don’t sign you don’t get the car. It’s not optional
Like I said, it depends on the language used. Post a screenshot, and I’ll tell you what I think.
EDIT: sorry, just realized that question wasn’t to me.
Those contracts aren’t optional and probably pretty standard.