I bought a used car and now finance guy says interest will be higher than he told me. Can I return it?

He said my interest payment would be around $199, but he called me today that because of higher interest, it will actually be around $230. I have not signed to finance the car with anyone yet, but I have had the car for two weeks. Can I return the car to the dealership?

I bought a used car and now finance guy says interest will be higher than he told me. Can I return it?
I had a similar situation. Wanted to buy a car, couldn't without a co-signer because I was only 21 and didn't have enough credit on my own. They let me take the car home without signing anything myself (because my father had purchased 6-7 cars from the same dealer). I had it for several days (4-5 I think it was) and when my father refused to co-sign, I gave the car back to them. End of story. This was in Washington State at an Acura dealership for a used car.





Take the car back to the dealer and hand over the keys. Sorry guys, not taking it when you can't deliver the payment you said I would have. Can't believe they let you have it for 2 weeks without having financing in place and papers signed!
Reply:Tell them no deal. Take it back.
Reply:I would say yes because you were smart enuf not to sign anything.. Turn it around on them and say they broke the agreement with you since they told you one amount but then did a bate and switch and now doing a different amount. Drive the car back and have someone follow you so you will have a ride back home. So no thanks!
Reply:You have no obligation and they were stupid for lettingyou take it for that long then lying.
Reply:take it back. if you have not signed anything you are fine. Then go secure a loan from a bank or credit union. Shop around at about 3-4 banks. Then, look for a car, but don't tell the sales man that you already have been approved for a loan from the bank. Then, negotiate the sales price. when you are satisfied with the negotiated price GET IT IN WRITING.
Reply:Even if you signed the contract for $199.... they didn't fulfill their end of the bargain, which means they breached the contract. So you have every right to return the vehicle without any cost incurred. Even if you drove it 1,000 miles, it was their fault for allowing you to take the car without first securing a loan. They took a gamble and lost. Now if you damaged it in any way, they have every right to collect the cost since they have every right to expect the car to be returned in the same condition.





Or if you love the car and the deal isn't too bad, you CAN sign the revised contract and keep it. It's up to you.





THERE IS NO 3 DAY COOLING OFF PERIOD (IN THE USA) WHEN IT COMES TO CAR SALES DAMN IT!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Reply:Yep, take it back! Talk to an attorney too. Do you have it in writing about the first amount you mentioned? Are you in the US? If so, you might have a lawsuit based on truth in lending act.
Reply:There may be different laws in your state, but in most areas, you wouldn't be obligated to this deal. That dealer took a risk in "rolling the deal" or a "spot delivery" as they call it, that's when they are so afraid that if you leave without the car, you won't be back.


That on it's own should lead you to question if you got a good deal or not, they may even have some extra garbage in your terms that you don't necessarily need.


I'd take your cash purchase price, and compare it at another dealership or 2 to make sure it's a good deal, and check your bank's interest rate to see if you qualify for a better rate.... also keep in mind that a dealer can bump your rate up higher for profit, called a finance reserve.... he may even just be trying to get greedy.
Reply:Probably not. Just get a loan elsewhere
Reply:yes
Reply:Probably 2 things happened... your credit isn't as good as he thought it was and the cost of credit has gone up since you bought the car.





You can accept or deny the loan but you can NOT take the car back... YOU HAVE BOUGHT IT.,
Reply:Possibly....what did you sign? A purchase agreement or no papers at all.....If you didn't sign anything there is a chance. Go see his manager at the dealership and talk to him about this...Possibly even an attorney
Reply:The grace period varies by state I believe. Check with your local Legal Aid Society or ask an attorney... You could just cold call a couple of other car dealers and ask...
Reply:A lot of times your finance charge depends on your credit score. If you have a low credit score you'll have a higher finance charge. I would say that if you like the car and you haven't financed it thru anyone yet then you should look around for the best rates. Banks are usually fair on their finance charges and you may be able to go to a personal loan company like Citi Financial (If there is one located near you), If you have someone with good credit that can co-sign for you it might help bring the finance charge down.
Reply:MOST LIKE NO AS STATED ABOVE BUT TRY YOUR LOCAL BANK AND OR THE CREDIT UNION.





Depending on what state you are in there might be a three day law. This would specific that by law you have three days to return a car from the date of purchase. If one was to return the car now, you would get resale value for it and car prices go down tremendously after having been driven off the lot. It will probably be better if he can find a private seller for it.





However in most states you do not even have one day, unless you are doing the 24-hour test drive program.