tricked into financing a car; high interest rates! any legal ramifications for car salesmen to refund money?
I know someone close to me who while literally off his med, financed a 2003 Buick LeSabre for something like 13,000, the actual amount of the car is about 8000. He had the money to just buy the car but the salesman insisted he finance it (to build credit) the car broke and needed repairs 2weeks later and since then my friend has given the car back and has not received any money and is just wanting to be rid of the car. HE LET THEM KEEP THE MONEY! What can I tell him to do to get some sort of reprieve from these people who think it is okay to take advantage of someone! PLEASE HELP
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- Call your local county prosecutors office. There's not much you can do about the financing, but giving the car back and them keeping the money is not allowed. The legal ramifcations vary by your friends condition and the state where he lives. But I'm sure they would be happy to help. Good Luck, and be ready for a fight !
- Something similar happened to me. Bought a truck ($14,000.00). Couldn't make payments without borrowing from someone & I kept deeper & deeper in debt to who I was borrowing from. I turned the truck in. Which I thought was the end. But.... no, they auctioned it off & billed me the difference of what I had paid, minus the auction price. Over $4,000. which again I could not pay for. They harrassed me for almost 7 years before it was all over. It was a write off for them. But, now my credit is shot cause of the ordeal.
- Try the local media consumer protection reporter....
- If paperwork has been signed whether financed or paid cash, it's a done deal. Congrats, you own a vehicle. The reason for the price difference is due to interest rate. Seems a little high but I don't know the details. Most dealerships I have worked with in the past, have some sort of 30 day mechanical warranty. If they bought from a "Buy Here, Pay Here" used car lot, they usually don't. Your friend owns the car. He can take it back to where they bought it, but nothing will happen. Eventually, it will get towed. Buying a car is not like buying clothes. Shirt has a snag, I can take it back. We're talking about something that might cost a few bucks compared to a vehicle that cost thousands. The thing with the meds, well, if your friend didn't show any signs of mental illness( other than what's normal when buying a car), then how would the dealership know. Your friend needs to go to where he bought the car and talk with someone. Don't give up. The higher up the food chain you go, the better the results. If you do that and still are not happy, contact anyone and everyone that you think might help. Local news station, newspaper, BBB, Attorneys, whoever you want. If there is anything that can be done, you'll find out.
- When he gave the car back it became a repo which means it will be auctioned and if they get more than he owes on it that will be returned to him. But they can charge him for lots of things like storage etc etc etc... I hate to say it but he has messed up, he shoud ask if he could get his car back, and just stoke this one up a loss. Good Luck 10 years auto experience
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