Legal Question in Consumer Law in California

Purchase Contract 10 day option

I purchased a car on February 10th 2009 and now the dealership is telling me that they cannot get the loan purchased and I need to sign at a much higher interest rate (17% vs 9%). They are also telling me they can put me in a newer car if I want. The prob is I like the price of the used car I purch and they dont have anything comparable to switch me into. They did NOT send me a 10 day recission letter and didnt even make me aware of the issue with the bank until I called in over two weeks later to have my due bill honored (minor repair promises and extra key). Now they are telling me they are not going to honor the due bill and they wont put anything in writing explaining why they think the contract is voidable. As far as I am aware they cant back out of the contract nor can they ask for additional stipulations (proof of income etc) at this point. The F&I Director is now starting to call me daily (since last Thursday). He is threatening lawyers and I dont know what my rights are per se since they did not send out the recission letter.

Do they have to eat the contract themselves? Do I have to provide anything they are asking for? Do I have to take car back? Can they legally refuse to honor the due bill?

Thank you!


Asked on 3/16/09, 9:18 pm

1 Answer from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: Purchase Contract 10 day option

Write them a letter, certified mail RRR, telling them to go pound sand. If you want it on my letterhead, my fee for go-pound-sand letters is $100, payable by PayPal.

Read more
Answered on 3/16/09, 9:30 pm


Related Questions & Answers

More Consumer Law questions and answers in California