QuestionSaturday night me and my girlfriend went and bought a new used car. we jumped into the deal pretty stupidly after learning our current cars transmission is just about on its way out and we were kind of desperate. so, we signed the contracts and finance agreement that night and we took delivery of the car by driving around the block, we had to leave it there because we didn't have full coverage insurance. when we got home we were pretty shell shocked and couldn't believe what we had just done. on Sunday, i called geico for an insurance quote and they told us that what we thought (after being told numerous times by the salesman) was a 2009 was in fact a 2008. i checked the paperwork and sure enough all the papers from the finance dept. say 2008 while all the papers from the salesman say 2009. we weren't happy, and needless to say we want out of the deal. after looking over the credit sale contract, i noticed that my signature wasn't present anywhere on the paper, although my girlfriends was, i am the buyer and my girlfriend is the co-buyer. is this document valid without the buyers signature, only the co-buyers? also, they asked me to bring in a pay stub to validate my income, which i have not yet supplied. they are also missing a lot of our references for the financing. i went down there today and talked to them about the year mix up and that we weren't very happy with the deal and wanted to void the contract. they said they would lower the total price by 3000 dollars / 50 dollars a month, but we couldn't just walk away from the deal. if i don't supply them with a pay stub would they be unable to finance me thus voiding the contract? is there any other way out of this? thanks in advance.
AnswerI can only go by reading into your questions, wish I could view the paperwork, The mere fact dealer will lower price by $3000. is a huge amount that not only tells me you were vastly overcharged to start with and they don't have a firm commitment in hand.
I will guide you out of this mess if you care to answer a few questions.
1, Did you sign a Retail Installment Sales contract ? if you did then navigate to this link on my website for a full understanding http://usedcartips.org/installment.html
2, Your location zip code
3, Describe the papers that say 2008, my guess is you don't have copies ?
4, Let me confirm, you are saying all the paperwork is in your name, but only the co buyer signed ?
5, Did you leave a deposit or down payment ?
As for your pay stub, that will be up to the lien holder whom in some cases will let it slide. If you care to reply check the box that says private.
Ray
http://www.usedcartips.org/
