When is the Car Deal Really Final?

Q: My husband (co-signer) and our 20-year old daughter (first time buyer) went last night and found a used vehicle at a dealer. The “deal” was worked on, the salesman in and out, finance/credit applications were signed. Since the “deal” was being worked out near the end of business hours, my hubby and daughter have to go back today and “finalize” the paperwork. The finance/bank company the dealer uses was not open at that hour. They did not bring any paperwork home, other than Carfax report, no signed copies of anything. Our daughter did put $400 down (through her Visa debit and part thru her Visa credit card).

Once home, it was an eye opener when our daughter realized what the full coverage insurance would be. Since they have to go back today to “finalize” the paperwork, and no vehicle went off the lot, does this mean the DEAL is NOT actually FINAL? She had changed her mind. Thank you for your assistance.

Daphne R. – Wooster, Ohio

A: With no vehicle delivery there is no legal deal in my opinion. If the customer signed an agreement that says that the customer will forfeit their deposit or down payment, the customer may be out $400 for great lesson. Some credit card companies can help recover frivolous charges like these.

Agustin Vasquez, Jr., General Manager, Mack Massey Chrysler Jeep Dodge, El Paso, Texas