Legal Question in Consumer Law in California
auto contract
I have bought a car from a dealership, and was given apr, and monthly payment rate. 4 days later they call me and tell me that my apr couldnt get approved, but that i got approved on a higher one. Can i return the car because of that? or what are my rights, what can i do
2 Answers from Attorneys
Re: auto contract
your rights are defined by the terms of the contract. you need to read it.
Re: auto contract
The standard auto contract provides for a 10 day rescission period if financing falls through, so if they notified you in writing during that period, the deal is off and you must return the car. Insist on seeing the denial letter from the finance company that supposedly turned down your loan, because some dealers lie about approvals to get you back in to sign a new (and expensive contract). Also, make sure you get your down payment back, which the dealer must do.
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