car trade in gone wrong

[passenger]

hi,

I need some legal advice long story short I recently trade in my 2008 BMW for a new nissan. I went to the dealership and the salesmen hook me with a new car and made me a deal real fast. they gave me the new car and told me everything was fine I was good to go, the next day the manager calls me and tells me I needed to go right away because something went wrong with the finance and they needed more money to get me a better interest rate with another bank so I went and was not happy but I gave the money. I had to sign a new contract and apparently everything was fine now. 2 weeks later the manager calls me again saying they tried to sell the car in a auction but they inspected the car and apparently it had a previous car accident something that I honestly didnt know about cause I have had the car only 3 months. so now he wants at least 5 thousand dollars more or to undo the deal even though the deal its been do e with the new bank and everything. he keeps harassing me . please what can I do I have consulted with other lawyer's and they all say the same that it should not be my problem but the dealership is going to try and make mine

 

[army judge]

hi,

I need some legal advice long story short I recently trade in my 2008 BMW for a new nissan. I went to the dealership and the salesmen hook me with a new car and made me a deal real fast. they gave me the new car and told me everything was fine I was good to go, the next day the manager calls me and tells me I needed to go right away because something went wrong with the finance and they needed more money to get me a better interest rate with another bank so I went and was not happy but I gave the money. I had to sign a new contract and apparently everything was fine now. 2 weeks later the manager calls me again saying they tried to sell the car in a auction but they inspected the car and apparently it had a previous car accident something that I honestly didnt know about cause I have had the car only 3 months. so now he wants at least 5 thousand dollars more or to undo the deal even though the deal its been do e with the new bank and everything. he keeps harassing me . please what can I do I have consulted with other lawyer's and they all say the same that it should not be my problem but the dealership is going to try and make mine

If the bank stands behind the loan, you should be okay.

The dealer is hounding you to try to intimidate you into making them whole.

I suggest you speak to one of those lawyers, and ask him/her to write you a legal opinion about this dilemma.

He'll likely charge you $200-300 to do that, but if the dealer sues you, you can base your defense, among many things, relying on a legal opinion.

It won't prevent the dealer from suing you, but it'll assist your defending the lawsuit.

If what you represent is accurate, I see no issue here for you.

But, that won't prevent him from suing you.

You also need to know that the dealer is de facto a co-signer on many auto loans UNTIL a time period has passed, or you have made the first payment.

read your loan contract, if you can stand the boredom, to truly know.

If that is applicable, you could possibly lose the car you have (the new one).

Again, ask the lawyer about that.

We don't really have the time, nor do we care to know all of these details.

You need to know them and more.

 

[passenger]

If the bank stands behind the loan, you should be okay.

The dealer is hounding you to try to intimidate you into making them whole.

I suggest you speak to one of those lawyers, and ask him/her to write you a legal opinion about this dilemma.

He'll likely charge you $200-300 to do that, but if the dealer sues you, you can base your defense, among many things, relying on a legal opinion.

It won't prevent the dealer from suing you, but it'll assist your defending the lawsuit.

If what you represent is accurate, I see no issue here for you.

But, that won't prevent him from suing you.

You also need to know that the dealer is de facto a co-signer on many auto loans UNTIL a time period has passed, or you have made the first payment.

read your loan contract, if you can stand the boredom, to truly know.

If that is applicable, you could possibly lose the car you have (the new one).

Again, ask the lawyer about that.

We don't really have the time, nor do we care to know all of these details.

You need to know them and more.

thanks for the reply, yes I need to check the contract but like the bank has already sent me all my new acc info and the date is set for the first payment can the dealership cancel my loan woth the bank even if the bank does not have anything to do with the dealership?

 

[army judge]

thanks for the reply, yes I need to check the contract but like the bank has already sent me all my new acc info and the date is set for the first payment can the dealership cancel my loan woth the bank even if the bank does not have anything to do with the dealership?

In many cases,banks require the dealer to be a co-signatory to ALL car loans until a set time has elapsed, or the buyer has made the first payment.
This happens one of two ways: language in the contract, or by operation of state law.

Why not read the contract, and/or inquire of the bank's lending department?

In some cases these days, as lending practices change, this requirement has been eliminated, or ignored.

In fact, yours may be such a case.

Nonetheless, reading your contract is never a bad idea.
However, reading it after having already signed it, well you know.