My question involves a consumer law issue in the State of: TN
Hi to all and thanks for looking at my thread. Here is my dilemma and I need some true expert advice..
So basically me and the wifey bought a older car from a dealership maybe 2 years ago and i still have the contract. $3,000 is left on it and now the dealership has sold our loan to MID ATLANTIC FINANCE. Basically Mid Atlantic buys car loans for 60% of the loan and take over the loan. Seriously if they would have taken 60% I would had paid the original buy here pay here car lot off myself truthfully for 60%.
I called and told the BUY HERE PAY HERE lot that the contract I signed was with you and not another company such as Mid Atlantic. They got quiet and said its in the contract, I advised them it is no where in the contract that states my loan can be sold to a 3rd party nothing of that nature. The guy says he will have to pull my contract and see. basically the dealership knows that there isnt anything in the contract in regards to that and they thought I was dumb and wouldn't check up on it.
so my question is what can i do, I dont want my loan with this 3rd party and I feel violated because they sold the loan off without my consent.
Can i sue the Buy Here Pay Here for damages, for selling to a 3rd party, breech of contract? I want my loan back with the buy here pay here company? better yet I want out of the loan contract now since they breached it
aGHHH Did some more reading of contract and it says this:
Assignment: We may sell this contract for an amount that is more than or less then the amount financed. We may sell or assign our rights in this contract without your permission
am i screwed?