[Spridgets] Car Dealer question, absolutely NO LBC

[corvallis at peoplepc.com]

Get an attorney and ask his advice. Depending on the state, you do have
rights. 
I would avoid co-signing anything with another adult. ...bill in oregon
====================================================
-----Original Message-----
From: spridgets-bounces at autox.team.net
[mailto:spridgets-bounces at autox.team.net] On Behalf Of mike rambour
Sent: Wednesday, September 23, 2009 2:07 PM
To: Spridgets
Subject: [Spridgets] Car Dealer question, absolutely NO LBC

  Hoping someone here might know my options.

 I have NOT read the contract yet, I am at work and the contract is at
home, so I have NOT done my homework yet.

 3 weeks ago my daughter (she is 19) without asking permission or first
talking to me, traded in her car 04 Mustang Convertible on a 06 Jeep
Liberty.  I was not too unhappy about it because it got me off her
Mustang as a co-signer, although I was unhappy she did it without
consulting me or my wife.

 Today the car dealership called and said she did not qualify for the
loan and she needs one of us to co-sign for the loan OR she needs to
bring in $1,400 to bring the loan down to what she qualified to.

 Now this is 3 weeks after she bought the car, everything was signed 3
weeks ago. I can't believe a dealership would let a car off the lot
without knowing exactly what she qualified for and without everything
taken care of but they are insisting that I or my wife come in and
co-sign or she write them a check.  She does not have the money by the
way, so I would have to give it to her.

 I am extremely reluctant to pay the $1,400 but I would do it to keep
her off my credit report. What are our options here ?  I realize none of
you have seen the contract either, can I make them unwind the deal and
give the Jeep back and cash for the Mustang that they have already sold
off the lot ?  Or force them to accept the deal as it was made 3 weeks
ago ?  We would lose a lot on the Mustang but I would prefer it as they
did not give us a lot on it but I would be ok with it.

 I prefer to unwind the deal by not co-signing and not giving her the
$1,400.  This is in Calif. if the laws make any difference.  And I will
be reading the contract this afternoon and going in to the dealership
and arguing loudly, thought I would get opinions first.

   Mike 

p.s. sorry for no LBC content but there could be a MGB in her future if
we can unwind this.
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