The dealership we got my wife’s X3 from has stated they need to send us a new contract to sign. They did not inform my wife as to why the contract needs to be re-signed, they only said there was some sort of error and our payment is going down (though they did not specify by how much). The dealership is a couple of hours away from our house, so they said they will overnight us a new contract that we could sign and send back. I’m all for a lower payment, but want to know what other areas of the contract I should pay special attention to to ensure they’re not changing anything else that’s going to put us in a bad position. Thanks.
Terms as in mileage, length, extra miles charge. Or call them see what the error was.
Did you ask the dealership as to why they are asking a new contract to be signed? You need to understand the exact reason and I hope the dealer does not provide you with a ridiculous explanation. Compare the original contract with the new one. Go through the new contract line by line. Identify anything that was not mentioned in the old contract. If you are not sure or don’t understand any item in the new contract…than do not sign it.
Good Luck
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Unfortunately we haven’t spoken to them directly yet. They informed us about this via voice mail, and my wife has contacted them back twice now and hasn’t actually spoken to anyone.
As RcNiSMo said, get the new contract, put em side by side and compare line by line. You shouldn’t look for something specific, you should look at it completely.
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I did F&I for years for Benz and we had to overnight contracts all the time because there were errors in the residual, price was typed in wrong, maintenance was residulaized incorrectly or as simple as the paper contract didn’t line up.
Match up old and new and call finance manager to walk you thru the differences.
I recently had a similar experience. Finance guy said the salesman used residual and MF for a 2018 and my car was a 2017. He assured me my payment was the same and they would eat the difference.
I was concerned and ran the issue by a family member who is an attorney. He advised me to do the following:
- Call and ask them to explain specifically what were the errors, changes and the reason they were asking me to sign a new document
- Send an email restating what they told me were the reasons I was being asked to sign a new contract. State I do not have to sign it but as a courtesy I will
3 and of course as others have stated do a side by side, line by line comparison of both contracts before signing the new one.
In my case in addition to sending me the new contract they included two new documents with language indicating that I agreed to rescind the old contract and sign a new one. Both also added paragraphs stating I understood that the new contract might result in additional charges to me, blah blah blah. I crossed out those lines, initialed them and wrote in that I understood that the new contract would result in no additional charges to me. I sent the email, kept a copy of the new contract and additional documents and returned the new ones. That was over a month ago and I haven’t heard a peep from them since. Subsequently I received my “welcome” letter from Genesis finance and my license plates so apparently the revisions I made to the documents were accepted. Good luck with your situation.
That document was never even looked at.
The only form the lender looked @ was the contract, which was just scanned by a computer anyways.
You’re ok w/ the revisions as there was nothing that could have changed the deal.
@coolryans is right on the money too - we constantly overnighted new paperwork as something was wrong or missed.
It’s sadly a common thing in the car world.
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