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  1. #1
    Join Date
    Jan 2012
    Posts
    1

    Default Car Dealer Sold My Trade-in

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

    I am a service member. I live and work in NC but have temporary duty in Florida. I recently traded a truck in on a new truck. I was upside down on my car loan, but the dealer paid it off for me. I had financing in-hand but the dealer (Ford) ensured me that they could beat it. They secured financing for me through a local credit union, I signed the paperwork and drove off in my new truck.

    I was informed later that the credit union would not grant me a membership due to the fact that I was not a Florida resident. The dealership strung me along for 3 weeks, offerind me numerous high-interest deals. They launched over 6 hard inquiries on my credit report which caused my credit score to fall over 25 points.

    I returned the car today as they do not have a cashable contract. they refused to return my deposit and stated that they were going to press charges against me for the difference they paid on my trade-In (which has since been sold to an auction house).

    Do they have a legal leg to stand on? Am I contractually obligated to buy this car seeing as I signed the purchase order?

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

    Default Re: Car Dealer Sold My Trade-in

    Under your signed written contract to purchase the car, what are your obligations if your financing falls through or if you decide you don't like the terms of available financing and refuse to obtain a loan to pay for the vehicle? If the purchase was not contingent upon the approval of your financing, or you failed to abide by the terms of the contract by refusing available financing, then from what you've told us so far the contract would be enforceable.

  3. #3
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: Car Dealer Sold My Trade-in

    You are responsible for their loss on your trade and wear n tear on the new vehicle.

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