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  1. #1
    Join Date
    Aug 2008
    Posts
    1

    Default Motorcycle Dealership Won't Honor Contract

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

    My mother went into the dealer to buy a motorcycle, she had her credit ran, was approved, signed all documents (which included interest rate, monthly payments, total payments, total interest, term length ect...) On Monday we got a call saying that they couldn't do the loan at the original interest rate and we needed to resign at a higher rate. Is this legal? The original contract she signed has no "pending final approval" clause. The document is "retail installment contract consumer credit document Minnesota". This wasn't the credit application, this was after she had been approved from honda credit.

    Thanks for any advice!

  2. #2
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    16,307

    Default Re: Motorcycle Dealership Won't Honor Contract

    What was the reason given for the financing falling through?

    Had she actually been approved (was there documentation?), or was the rate she was quoted "pre-qualified"?

  3. #3
    Join Date
    Apr 2006
    Location
    IL
    Posts
    35

    Default Re: Motorcycle Dealership Won't Honor Contract

    This sounds similar to what happened to my friend for the same people "Honda". I wounder if there is anything wrong going on with this people. Hope not!

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