Loan and Car buiying question

[yz250roost]

Hey everyone, the other day I went to the local dealer and my fiance and I drove away in a 00 Celica. that's the only good part of this story. We didn't really realize that on the contract there is this service fee, which is a fee they charge for first time buyers, also the price of this car got way out of hand, now we owe about 14,000 for it. We didn't like the way they handled our financing,(just a note, CA doesn't have a cooling off period) The one thing that may help us get out of the deal is that our loan agent had to fabricate information about my fiance to get a good APR, he said that she was a manager at a hair salon when she is actually self employed as a hair dresser, he also stated that she makes 2800.00 a month when she only makes 800.00. If I call the credit union we got the loan through and told them this, will they nullify the loan, meaning we could return the car? Any other insight would be greatly appreciated. thanks in advance
Jeff

 

[JWW]

Can you get into any trouble for signing the paper that said she makes $2800?

 

[gwcrim]

I think there are consumer protection laws that give 72 hours to back out of a deal. Talk to an attorney if you know one.

HURRY!

And don't let anyone buffalo you. Car sales places are great at stonewalling. If it's been less than 72 hours, take the car back and leave it there immediately.

Good luck.

 

[JWW]

Im pretty sure the "No cooling off period" protects the dealer from bad decesions or deals on the buyers part.

 

[490Dave]

I believe gwcrim is right, it seems to like here in NM most dealerships advertise a "3 day moneyback" deal if not satisfied. Howcome you let it get out of control? always remember, you're in control when dealing with those people.

 

[Nevada Sixx]

i think you should get a home equity loan if you can and pay the car off with that loan. if you tell them that about the 800 dollara, they may call the loan back, but you may not can simply return the car, you'd have to sell it to pay back your loan i'd think.

 

[mx547]

i realize that you don't want a lecture but it sounds to me like you screwed up and now want an easy way out. find a way to make the best of it but don't blame the dealer. remember, you are the one with the power to say no. what would you do if you sold someone your bike and they came back three days later saying, "i think i paid too much. i want my money back?" i bet you would say "no way!"