Legal Question in Consumer Law in Illinois

used car

bought used car11998 dodge van-left dealer with signed contract stating the terms of the loan, there were no clauses stating anything about it being subject to approval. they ran my credit and new if i would be approved t. i drove the car for about 30 days and get a call saying i need to come in and redo loan because no lender will approve loan for a vehicle of 10 yrs, and for the price of $4500. so I am told that i need to let them find me another vehicle that costs 8000.-later model vehicle in order to be approved .or they have one lender but the interest rate is higher,500 .00 down payment and of course higher payments. this is 3/8/08 so finance mgr says i need to be back in by 3/12/08 to sign new loan papers. i would like to cancel this contract because i believe it was binding and they want to change it.i dont want to do anymore business with them. what legal rights do i have since they are trying to scam me into paying them more money when that is not what the original contract states. i left with a signed agreement with all terms stated , so if they couldnt finance me why dont they call me in like what 10 and i would return the car. yet they let me drive it around and try to force me to take their deal.what can i do


Asked on 3/13/08, 1:15 am

1 Answer from Attorneys
Lesley Hoenig Lesley A. Hoenig, Attorney at Law

Re: used car

I think the likely scenario is that they were lying to you about the loan. The loan was obviously approved, because they wouldn't let you drive off the lot with the car and sign loan documents if you weren't approved. You sound like (I don't know for sure because I haven't seen the documents) you have a valid loan, I don't know how feasible it is that you could cancel it, you should have an attorney look at the documents.

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Answered on 3/21/08, 2:50 am


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