Used Cars: Bought as is at note lot, jeep grand cherokee laredo, jeep grand cherokee

Question
My husband and I purchased a 2000 Jeep ( Grand Cherokee Laredo) form a note lot on Saturday May 10th 2008. We put $700.00 down + $290.00 for private insurance+ $800.00 for tax tags and title in two weeks. The jeep ran fine until the next day. The RPM's rev up to red line before it gets into 3rd gear, the breaks/roaters are now squeaking, and this morning I was trying to take my 7 yr old son to school and it wouldn't start. The gages were going crazy! It ran yesterday but the service light was on. We have only had the Jeep for less than a week. The dealer is trying to make us come out of pocket for the repairs, tow truck, and $800.00 for tax tags and title. We don't have it to give and they assured us that there were no issues with the vehicle when we bought it. What can we do? I don't want to pay for a piece of junk, but I also don't want to be out the money I've already put out. Should we just cut our loses?

Answer
I wish I could wave a magic wand and make your problems go away, but the keyword in your question AS IS says it all.

When you buy a vehicle AS IS it means just that, whatever problems the vehicle may have becomes your problems.
Take the Jeep for an independent complete inspection and then you figure cost VS loses.

Ray

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