Can They Do This????

[lilval2]

My husband went to Route 73 Chevy on 4/26/08 and purchased a 2007 chevy truck, he traded in his old one.
Was told he was approved was given the payment amounts due dates ect.
Tonite at 6;30 his cell rings they tell him to come in to sign some paperwork, He gets there they tell him his loan was not approved and he has to sign for a new one, That was Double the rate of the origional paperwork.
He called me, I told him no way, they told him if he pulled it off the lot that they would have him arrested.( I called the local Police dept. as long as we have the paperwork were ok) I hope:(
He then told them ok then get my old truck and put back in my stereo and ect, then they told him to come back in the morning.
When he went there origionally it was advertised they pay for tax and title on the tv and radio, but when we got the paperwork we paid for that too, I should have known then something wasnt right.
I dont know if he legally has to sign for a higher rate that we cant afford, if anyone can answer that i would deeply appriate it.
Thank You

[Eagle]

The Dealer is trying to pull a fast one on you and if they don't take the truck back and refund all your monies then you can sue them for consumer fraud and win. DO NOT SIGN anything else at this point because you don't legally have to. Make sure you have all the original paperwork in case you have to sue them.

Tell the dealer that you are aware of the NJ Consumer Fraud law and they have clearly violated it.

Let me know if they don't refund everything and give you the old truck back. I'll tell you what you need to do if they give you a hard time or try to cheat you any further.

[Diesel]

Just got the call from the dealership telling me, "Good news the bank wants to lower your payement." This sounded fishy so I started checking. I haven't gone back yet. However when I went to check my paperwork what I thought were copies of my loan are just warrenty information papers folded up, lemon law form, . I have no copies except a form I signed from a major bank where I agreed to obtain insurance on the vehicle. Called that bank they have no record of me, a loan app, the vehicle, or a loan. Am I under contract to buy this car now? I've had the car 10 days now. When I signed I was told interest rate, bank, payments, and first payemnt date. Now I don't know what is true. Any recourse? Would obtaining a lawyer help?

[Eagle]

Did you sign a sales contract and if so do you have a copy?

[Diesel]

I thought I was signing a loan, but I might have just signed a sales contract. I was not given a copy. The only forms I have are the ones listed above. I was planning on going in there this evening as that is when this loan guy will be there. Any suggestions?

[Diesel]

As I was understood it they had secured a loan and I signed for it. But after the strange call about lowering my payments I went and checked and found out I had no paperwork on warrenty info. If tonight they want to get me in a loan that I don't want, can I walk away?

[Eagle]

If you don't feel comfortable then you should tell them you want out. According to the truth in lending laws the dealer should have given you paperwork disclosing the details of the loan. It is illegal to hide that stuff from you. By the way, the "Loan Guys" that work at dealers are about as honest as a New Jersey Politician - so beware of them.