Legal Question in Business Law in Texas

Vehicle Purchase Terms
I have purchased a vechile from a dealership and the dealership has failed 2 times to submit the GMAC application to get funded on the sale. Now they are asking for a check in the amount of 7/mos so they can submit the financial paperwork to GMAC. I am looking over my paperwork and notice on the back of my purchase agreement, ADDITIONAL TERMS AND CONDITIONS, item 14:
If for any reason you and we do not complete the Vehicle sale and purchase, financing is not obtained, or this agreement is declared void, this section applies. You will return the vehicle to us. You will pay us the greater .30/mile or $20 a day for use of the vehicle. When you have paid us the amounts you owe under this agreement, we will return the Trade-In. If you fail to return the vehicle within 24hrs of notice you agree that we may solely at our option, cncel the sale and and retake immediate possesion, in addition to those charges you agree to pay expenses, etc.

This amount is less than the 7/mos they are asking for. Can i request we go this route and ask the delearship to take car back. I am upset that this has happened 2 times. I signed paperwork the first time, then they called and said it was wrong paperwork, so i had to do again. Now this!

Asked on 9/12/07, 5:24 pm

James Grissom Law Office of James P. Grissom

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Re: Vehicle Purchase Terms

I doubt that you will get your trade-in back. It's probably sold by now. If not, go for it.

Answered on 9/12/07, 6:20 pm

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