Is there a car lease to cancel in this case, or does the lease agreement not hold in this case?

Ask the Hackrs
1

My dad went to a dealership in Massachusetts and signed a car lease, also agreeing to trade in his car. However, we found out that his current car is valued more for than what the dealer’s mechanic evaluated it for, and the dealer also misrepresented which car he was describing to my dad- my dad thought he was signing a lease for car A, but the dealer used unclear terminology and was referring to car B (the lease is on car B).

The dealer also told my dad his credit was Tier 4, but looking around on the internet, I think it’s Tier 3 (650s). But I don’t understand how the dealer thought he could evaluate the credit without seeing it since a freeze is on it, so I think he also misrepresented the situation here.

MA doesn’t have a 3 day cancel period. The gist of the situation is that he signed the agreement, but the bank has not approved anything yet because I have to unfreeze my dad’s credit in order for the dealer to finalize the lease with the bank.

Does a car lease technically/legally exist in this case?

Edit: just an update on this, my dad hadn’t signed any legally binding docs, so we were able to talk about and then went with another car.

2

The deal seems to be valid, but if the bank does not approve/fund the deal, it cannot go through.

3

Since his credit report is frozen, that’s seems to be your saving grace. Just don’t release it to them until you get the deal you/he was expecting, and the problem will solve itself within a few weeks at this point, when a year-end deal doesn’t materialize.

4

@CaptQ sorry, what do you mean by tear-end deal? And do you mean we can keep re-negotiating even though he signed the paperwork? Since it’s the weekend, none of the registration paperwork has been done, but he did sign the agreement.

5

Year-end, which is what the dealer is looking for. I had editted my post to correct, I guess you replied within mins/secs of my post LOL

6

Okay, gotcha- thanks!

Also, does it matter that he has neither traded in his current car, nor taken possession of the new car? I am reading mixed things on this.

7

If you haven’t done those, then for sure this deal isn’t valid yet.

8

@Jon, phew, thanks for the input. I am thinking we’ll just go to the dealer tomorrow and get rid of the paperwork he started, and that’s that hopefully.

9

You signed and drove off of the lot. Not a good thing if you want out now. I don’t know about unfreezing the credit, but it seems you acting in bad faith. That could be a slippery slope. You should consult an Attorney vs soliciting information off of the internet.

10

He did not take possession of the car per his post a day ago