Legal Question in Credit and Debt Law in California
Car loan gone wrong
i took out a car loan, it was approved. I went to a car dealer. I got a car. the car dealer has over written the loan. they keep calling me to come back and re-sign the loan. now they want to take away more than what i signed for. I want to keep the agreement, but they keep on changing it. Now they want to drop my gap insurance, and sign a new agreement. I've had the car for two weeks, why should I agree on less than what we origianlly agreed on?
1 Answer from Attorneys
Re: Car loan gone wrong
Thank you for your inquiry. I agree with you -- you should not have to agree to something less than what was already agreed to between you AND the car dealership. They didn't have to sign (or have their representative sign) -- and you are actually in a better position, since you hold a contract that is binding between both parties until a new contract is signed.
I'd shop around for gap insurance on your own, and insist that the original contract (the better deal for you) should stand. They will be hard pressed to actually do anything but eat their loss on the anticipated benefit of the bargain under the contract if you are unwilling to sign a new contract.
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