Legal Question in Consumer Law in Texas

Installment Contract

My daughter wanted an atv. She used me as a cosigner. We signed the papers, and took delivery of the atv. The contract states number of payments, payment amount and 0 down payment. Now the salesman is calling saying that she was supposed to put money down and wants to resign papers. Also the lending company has sent letters saying that credit could not be extended to us at this time, yet we have a signed installment contract and possesion of the atv. Are we good and the dealership just made a bad mistake on their part or will we have to give the atv back and cancel our contract?

Asked on 8/04/08, 11:11 pm

2 Answers from Attorneys

TC Langford Langford Law Office

Re: Installment Contract

If your contract is signed and complete, then you have a binding contract. Complain to the Texas Attorney General and the Texas Department of Transportation Auto Dealers Enforcement Division. Send a copy of the complaint letter to the dealer.

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Answered on 8/06/08, 8:35 am
Melissa Palmer The Law Offices of Melissa E Palmer, PC

Re: Installment Contract

Be sure that the contract is not contingent on the lender's approval. Is the contract signed by the lender or did the seller agree to the financing?

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Answered on 8/06/08, 9:06 pm

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