Legal Question in Consumer Law in California
Dealer sent rescission letter
i purchased a car on june 1,2007. on june 10, i get a rescission letter from the dealer saying they cannot find anyone to finance me and have to return the car. i go to the dealership and they say ''oh, its just a law that we have to send that letter but we found one that would finance you but you have to resign a contract'' after telling them, NO they tried to convince me that the finance company would only approve me IF the contract was revised. I said NO. I just want to return the car. ended up talking to the financial director, pushed me to sign another contract and i said NO.
he said ok. i guess we'll just use the old contract that you signed. Does that sound right? why send the letter in the first place if wouldve worked anyways???? now, i dont even want the car after all the crap i got from them...is the receipt of the rescission letter enough for me to just go there and say i want to return the car? i am scared if i wait too long just to find out no one would finance me, something wouldve happend to the car already ( like dings and dents)
2 Answers from Attorneys
Re: Dealer sent rescission letter
They have 10 days to notify you if they can't place the deal with a finance company. If they cannot, you have to give the car back. Some dealers send out the letters prematurely to protect themselves. That may have been what happened here. They may have decided to finance it themselves if you would not sign a new deal.
You should be able to return the car to them. Call DMV if you don't get a good answer from the dealer. They regulate car dealers and can be quite helpful.
Re: Dealer sent rescission letter
The practice you are describing is depressingly familiar and is called a "yo-yo sale" (google for it) If they won't give you the car on the original terms, getting a phone call or a letter from a lawyer might well help persuade them.
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