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Is It Still A Binding Contract

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  • 09-04-2007, 03:45 PM
    MINDYj
    Is It Still A Binding Contract
    :After trying to return the car because i wouldnt lie to the bank stating that my bills were less than they were i was denied the loan , the cardealership said i still have a legal binding contract and if i dont make the payments they
    can reposs the car i told them that i would return the car and how could they reposs the car and have it put on my creidt report if iwasnt even approvred for a loan,if i return the car could i still be legally responsible for the car even though i wasnt approved for the loan?
  • 09-04-2007, 04:12 PM
    aaron
    Re: Is It Still A Binding Contract
    Read your contract. Is there a contingency in the contract that, if you can't get financing, you are released from the contract?
  • 09-04-2007, 04:25 PM
    MINDYj
    Re: Is It Still A Binding Contract
    [QUOTE=MINDYj;127049]It doesnt say anything about finacing in the contract, but if i am not finaced how do they expect me to pay for the car or where to make the payments at shouldnt that mean that the contract is void if i could afford to buy a car without a loan i would have done so.
  • 09-04-2007, 08:33 PM
    Mr. Knowitall
    Re: Is It Still A Binding Contract
    If you bought the car, and contracted that the deal was not contingent on financing and that you were solely responsible to secure financing, you have not provided any information which would suggest that they have breached the contract or that you should otherwise be permitted to escape the contract you signed.

    Obviously I cannot interpret a contract I have not seen.
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