Legal Question in Credit and Debt Law in New York

I signed a credit agreement with a local auto dealer,credit was approved, I took posession of a vehicle, made my first payment then recieved a letter from the dealer thelling me that the interest rate would be higher.I feel this is the old 'bait and switch', must I accept this and be forced to pay a higher rate? Can I return the car and cancel the contract since it is not what I agreed to?


Asked on 4/12/12, 4:12 am

2 Answers from Attorneys
David Slater David P. Slater, Esq.

Read your agreement. Does it permit this increase?

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Answered on 4/12/12, 5:00 am
Michael Markowitz Michael A. Markowitz, PC

It is very difficult to answer this question without reading the agreement. However, if you feel that this was a bait and switch, you can contact the NYS Attorney General's Office, Consumer Frauds and Protection Bureau at: 1-800-771-7755.

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Answered on 4/12/12, 5:03 am


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