Consumer Law, Warranties Rv Loan Argeement/Invoice Fraud?

[mirael]

Bought a used RV. When I went to sign the papers and take possession of the RV, the agreed sale price was $13,900.00. When the salesman was explaining the paperwork to me, he showed me that the sales price listed on the invoice and the loan agreement was $15,600.00. The salesman said that the differance, $1700.00, would be paid by the dealer. As I did not understand why this was being done, the salesman explained that it was for the loan company to make the loan. I still did not completely understand, but figured the dealer sells Travel Trailers for a business and know what they were doing. I am still not sure, but think there is something not right about this transaction. Is this fraud? If so, is this a legal transaction? Is the invoice void? Is the loan, based on the fraudulent loan form void?

 

[dee_dub]

Without knowing the details it is impossible to say. The loan might be void if obtained under false pretences. I also suspect that if it is not void, you might be on the hook for the full amount of the loan notwithstanding what the dealer has said to you. Bottom line, if your tummy tells you there is something fishy, don't do it. Surely if you could qualify for a loan for $15,600, you would qualify for a loan of less than that.

 

[Michael Wechsler]

I don't know of a law offhand or see a reason why you couldn't take out a larger loan with the dealer subsidizing you by giving you cash immediately. Here's what I don't understand. When is the 1,700 supposed to be paid by the dealer? I'd want a cashier's check or money order immediately and a writing to certify that the dealer is under obligation for this amount.