Legal Question in Consumer Law in New Mexico

I have a signed auto contract and have had the vehicle for 10 days and now the dealership wants me to sign a new contract with a higher percentage rate...what are my rights to sticking with the original contract?


Asked on 2/21/11, 11:54 am

1 Answer from Attorneys

Charles Aspinwall Charles S. Aspinwall, J.D., LLC

Assuming the present contract is valid and signed by all involved, you have no legal obligation to sign a new agreement for any reason. What do you gain if you sign a new contract with a higher interest rate? If the answer is 'nothing,' then stick to your guns and hold them to their agreement.

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Answered on 2/22/11, 7:18 am


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