Legal Question in Consumer Law in New Mexico
I have a signed auto contract and have had the vehicle for 10 days and now the dealership wants me to sign a new contract with a higher percentage rate...what are my rights to sticking with the original contract?
Asked on 2/21/11, 11:54 am
1 Answer from Attorneys
Charles Aspinwall
Charles S. Aspinwall, J.D., LLC
Assuming the present contract is valid and signed by all involved, you have no legal obligation to sign a new agreement for any reason. What do you gain if you sign a new contract with a higher interest rate? If the answer is 'nothing,' then stick to your guns and hold them to their agreement.
Answered on 2/22/11, 7:18 am
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