Legal Question in Consumer Law in Utah

I purchased a 2008 Dodge Magnum 7/5/2010- signed a Retail Installment Contract and Security Agreement as well as a Motor Vehicle Contract of Sale with an APR of 12.99%. I got a phone call from the finance manager on 7/6/2010 stating I need to come in and sign new paperwork. My APR is now 16.88%- Do I have any recourse on this? They lowered the purchase price by $3333.37, however my finance charge with the increased rate is $1,118.80 more. They also tacked on a $1500 Service Contract fee which I said I do not want but they claim is required. The new contract is also "predated" for 7/5/2010 and I do not feel comfortable signing back dated docuements- I am supposed to re-sign today.

I was initially looking at 2 different cars. They ran numbers for me on both- one was significantly more expensive and they wanted $2000 more of a down payment. I looked online at their website and the car they said was the "more expensive" car was listed for almost $5000 less than the car I purchased- I feel like they completely lied to get me into a more expensive car


Asked on 7/08/10, 3:51 pm

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

You do not need to sign the new documents. They must sell you the car you purchased for the terms in the original contract. You are not required to spend more.

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Answered on 7/09/10, 8:14 am


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