Legal Question in Consumer Law in California
We signed a purchase agreement to buy a travel trailer in California. After the contract went to the finance department they told us they could not obtain the finance rate that was stated on the contract. It would be higher than stated on the contract. Is this grounds for us to cancel the contract because they were not able to meet their promise on the contract?
We told them we did not agree to the increase of the percentage rate. They said they could not get it for us. Even if we put more cash down, it would still not bring it down to the contract promised amount. We have not received delivery yet because this process needs to be complete first. They are holding a $2000 check deposit for good faith (in their words).
1 Answer from Attorneys
If the dealer can not obtain financing for you on the terms stated on the purchase agreement you are NOT required to sign a new contract. If you have not taken delivery and they can not get the trailer financed then the contract would not be enforceable. You can request they refund your $2000 deposit if you are not satisfied with the terms they are now suggesting.
Related Questions & Answers
-
We have an internet provider, we wanted to lower our bill. We asked for a lower... Asked 10/07/11, 9:41 am in United States California Consumer Law
-
Is there a 12 months warranty on plants purchased by law Asked 10/07/11, 9:34 am in United States California Consumer Law
-
We agreed to an internet provider to recieve their service, but not their terms,... Asked 10/07/11, 9:19 am in United States California Consumer Law
-
I bought a refrigerator May 09. Since then it has been serviced 7 times. We have... Asked 10/06/11, 8:40 am in United States California Consumer Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
