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?
1 Answer from Attorneys
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.
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