What kind of legal issues am I facing?
By Bella75
@nixxi76 (3191)
Canada
June 6, 2010 3:51pm CST
Was wondering if any of you mylotters have signed a contract with a company, then found better conditions from another place? The reason I ask is because tomorrow I am going to return my vehicle that I have been making payments on for two and a half years. I have already paid $15000.00 and that's just almost getting rid of the interest. I still have another $20,000.00 to go and that's when I'll be putting money towards my principle. When I signed for this vehicle, I wasn't told it was a lease?? They told me it would be mine when I was done paying for it and now I found out that when I'm done all my payments which will be in four more years that I will still have to pay $3500 for residual fees plus $699 for some other stupid nonsense.
I was approved for another vehicle at a dealership and they told me they've had a few customers that have dealt with the same place I am paying out to now, and have just taken the vehicle back and said they didn't want it anymore. I asked them what ever happened after they did that and they said they had never heard anything from them about it. They even tried calling those people for me to ease my mind.
If you google the dealership I'm dealing with now you will see all the complaints and even court issues with them. I even signed up in a chat forum to ask questions to people that know all about these crooks. Unfortunitly I didn't do my homework when I signed up for this vehicle and I wished I would have. I also have a cosigner for this one and am not sure if this is going to get them into some trouble as well. So if you were in this situation what would you do? Take the vehicle back and see what happens? Or what are some other options?
4 responses
@nixxi76 (3191)
• Canada
10 Jun 10
Well I figured out what this new dealership's motive was and that is to screw me over too! They wanted me to pay 29% interest for a year then if my credit score and payments are good for one year they will drop the interest down to 11%. The whole catch here and they knew this is if I return this vehicle I have now back to the dealership, it's going to screw up my credit so I'm going to be stuck paying 29% interest for the whole term. They wouldn't be helping me at all! They have been trying to call me all week and I'm just not answering them because I don't want to deal with them either.
I still have just over three years with the vehicle I have now but what I found out is that it's a lease! I didn't know I was signing for a used leased vehicle otherwise I wouldn't have. The owner wouldn't talk to me either, he's hiding being his employees on the phones it's pathetic.
So my next step is to form a civil law suit with a bunch of people who have taken him to court and pickit in front of his business. If I can't beat him in court I will provoke people from buying cars or trucks from him.
What a joke!
Thanks for your advice,
happy mylotting
@mickeydurkin (137)
• United States
6 Jun 10
I the contract is a lease then they have to take the vehicle back. It would be an early lease return, which is perfectly legal and happens often. If the contract is a purchase and you still owe money. When you drop the vehicle off at the dealer, that is considered voluntary repossession which will go against your credit and you may still have to pay some of the loan. If you believe the contract is fishy you should get a lawyer to get out of it the right way. Be smart, because right now they (the dealer) has the upper hand.
1 person likes this
@KarissaAngel (362)
• United States
6 Jun 10
The best suggestion, hope he takes it. I would have said exactly what you did.
1 person likes this
@nixxi76 (3191)
• Canada
7 Jun 10
I'm pretty nervous about tomorrow. I'm not looking forward into going in there and telling them that I no longer want the vehicle and I have a feeling they are not going to be cool about this either but you never know. I'm just wondering how other people dealt with it? I do know that the dealership has been sued way too much and is in and out of court so maybe THEY don't have a leg to stand on. I just wished I wasn't in a rush to get a vehicle when I felt I had no other choice but to deal with them. It seems they know to to screw desperate people.
Thanks for your reply,
happy mylotting
@scarlet_woman (23463)
• United States
14 Jul 10
you might want to call your local attorney general-they might be able to help.
if you abandon the vehicle so to speak,your co-signer will be expected to pay the remainder.
@ericpapasit (1274)
• Philippines
6 Jun 10
Oh bad
, But just keep on it, you can get over it...
, But just keep on it, you can get over it...1 person likes this
