Re: Dealer Change The Deal Days After You Already Took It Home?
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Originally Posted by KJS
Got a call this morning from the Dealership about some story that there was an error in the numbers they came across when "completing the final processing". That they are going to try and work through it, but there is a possibility that the payment might have to be changed if they can not work through it? What kind of bull**** is that? Is that even legal? We signed everything and took the truck two days ago, is it not a done deal at that point?
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If you bought your Hummer on credit without prior bank approval then the dealer and customer are normally protected with what is referred to as a "McArthur Statement" either written in to the buyers order or a separate statement that you sign. They dub it the "McArthur Statement" because it says, "You shall return" the car if financing cannot be arranged at the rate you signed for. BUT... You have the power here. The dealer wants to sell the car but you do not have to re-sign the contract if terms change for the worse and your payment goes up. Dealers normally get their customers to sign because you have already taken the car home, told your friends... shown your neighbors and they bank on the fact that you have fallen in love with your vehicle and will pay a higher payment. A good dealer with a good finance manager will not have this problem. The safest thing is for you to always either pay cash or get your own money from your bank or credit union.
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2006 H3 - Luxury - Superior Blue - Sunroof - Chrome Pkg. - Chrome Step Tubes - AVN30D with rear view camera and iPod connection - Volant CAI - MagnaFlow dual exhaust - Throttle Body Spacer - Train Air Horn (to be installed) - More adds to come (New shoes & supercharger!)
1990 Porsche C2 (911) - Highly modified and very, very fast!
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