Legal Question in Business Law in Maryland

Would like to keep the Trade-In

I purchased a new; The contract includes a trade-in value of $1000 for my old car. I would like to pay the $800 and keep my old car. Also, I like the new car deal, and would like to keep it. Presently, the dealership refused to accept the $1000 cash I have tried to put in the money in their hands, they want my trade-in. I have the new car, and all is paid for except the $1000. They(general mgr) will not accept the money. I still have the ''would be'' trade-in.

Where do I stand with keeping the trade-in?

Should I mail them the $800 to put it in their hands?


Asked on 10/13/01, 8:52 pm

1 Answer from Attorneys
Robert Sher Wagshal and Sher

Re: Would like to keep the Trade-In

If you have a fully executed contract that included your assigning the trade-in to the dealer, they have a right to it. If the contract gave you the option of paying them $800 cash in lieu of the trade-in, you have the choice. The dealer apparently believes it can wholesale your trade-in for parts and realize more than $1000 or they wouldn't be so insistent on getting the vehicle.

Read more
Answered on 11/26/01, 12:31 pm


Related Questions & Answers

More Business Law questions and answers in Maryland