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  1. #1
    Join Date
    Aug 2011
    Posts
    1

    Default Dealer Wrote Wrong Trade Value on Signed Agreement

    My question involves a consumer law issue in the State of: New York

    Hi,

    I have signed an agreement on purchase price with a local dealer. They initially told me $2500 for my trade in, but on a the contract that we both signed it says $5,000 under Trade-Actual Cash Value. At the time I was a little confused but signed because it was in my favor. After researching it seems this indeed was a mistake. I am wondering what recourse, if any, the dealer has? I plan to show up with financing approved at the prices on this contract. There are only 2 sentences below the mathematical calculations, and they read:

    "Signature below indicates FINAL agreed sale price between dealer and buyer. Final payment, amount financed and cash due may vary if additional options or product are added prior to delivery" (and I will not be changing options, product)

    Should I be approaching this situation differently? I asked one of my friends that is an attorney their opinion (haven't heard back yet) but would like to know what some others think.

    Thanks

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Dealer Wrote Wrong Trade Value on Signed Agreement

    A mutual mistake can provide a basis for amending a contract.

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