Leased a car near closing time. Signed all the docs on paper, came back the next day also to pick up old car and sign contract in person. I was given a stapled stack of papers (the copy of the contract and application for DMV registration etc).
Am told the next day deal can not be funded unless an e-contract is signed. (slightly different numbers but also a different date).
What’s going on here? Really don’t want to sign all over again, even if it is e-contract. And frankly the numbers on the deal weren’t the best, either. Should I push for roll-back? What’s the story?
Ok, if you choose not to to sign, they will likely ask for the car back … if a deal doesn’t fund, it’s not your car bc the bank hasn’t bought it from the dealer
Will they return my downpayment, though? The salesman said they need to charge depreciation if they take it back. But they let me drive away with a printed contract and all.
Depending on their buyers order / purchase agreement (don’t get hung up on the word purchase), they could have a clause to charge you ‘rent’ for the time you had it… however, this is very unlikely.
This salesperson sounds like an idiot, so I’d ignore that.
Respectfully, don’t mistake this for a time when you can negotiate a better deal.
Call the sales manager and ask your options or decide whether to keep the car and sign.
The dealer didn’t do this on purpose. Occasionally contracts are off by a little bit which in this world means it needs to be re-signed in order for it to be funded. If you read your contract, there is typically a paragraph or two that addresses this….that perhaps you didn’t read at signing.
If you want to give the car back and get your money back that’s fine, or sign the new contract. If you want a different deal it would be better to return this car and start completely over somewhere else.
You can just be honest and just tell the dealer you are having second thoughts on the car/deal and do not wish to proceed. Drive the car back, give them the keys, thank them for their time and walk away.
They will be pissed at losing a sale but life goes on.
When a contract that has a provision for getting rejected by the bank does get rejected by the bank, everyone has the same choices: sign a mutually agreed new contract or unwind & walk away.
Ok.
It seems they haven’t even submitted to the bank because they want signatures from me. I just don’t see how I could have signed something on paper which they can’t submit to the bank. Why can’t they submit the papers that I signed in person?
