Tips on Buying Cars: Retail Installment Contract (Dealer), retail installment contract, laws in canada

Question
Hi, I recently recieved a call from the dealer 2 weeks after the purchase of the car, advising for me and my wife to come in and sign a new contract because they made an error. That my interest rate was going up (3.9 - 11) and I will loose my extended warranty. I reviewed my contract and I can not find anything that says "Subject to Financing". What should I do? Can I make them honor my signed Retail Installment Contract?

Answer
Hi
I do not know the laws in Canada, but i would quickly consult an attorney. If they are trying to re-do the entire deal you may be able to negate it. Obviously your monthly payment will go up quite a bit...If at all possible cancel the deal...Good luck!

STEVE