WWYD - Price of Car Changes After Purchase

[Anonymous]

This didn't happen to me, but to a friend a while back. They bought a new car from a dealership. They agreed on a price and drove the car off the lot. A week later they got a letter in the mail saying that the car was sold to them at the wrong price, but not to worry, the dealership would adjust the car loan to the new price. The payments would stay the same, but the term would be longer (84 months instead of 60). This was a difference of about $3K.

What would you do? When it happened, I told them to take the car back, drop the keys on the manager's desk, and demand a refund.

I thought about it when I read that Amazon was cancelling orders of the Echo Show that were ordered for $0 after a system glitch.

[Anonymous]

I would return the car.

I doubt its legal for them to adjust a sales contract that has been signed by both parties!

[Anonymous]

I'd keep the car and say you don't agree to the loan being adjusted. They can't legally just change the loan terms without your consent. They screw people over all the time, they can suck up $3,000. If it was so out of the ballpark, why did no one on their end notice it. If what they were trying to do was legal, they'd do that to people all the time.

[Anonymous]

^^^Forgot to say that that situation was very different than the Amazon situation. Did any of those people actually think that the echo was actually $0? Doubt it.

[Anonymous]

I'd return the car and figure out who to report them to. State Attorney General maybe?

[Anonymous]

What did your friend do?

[Anonymous]

I hope your friends retuned that car. It’s illegal to alter the contract and loan amount after both parties have signed. However, I’m sure they were counting on your friends not knowing this and just paying.

[Anonymous]

That's super bogus.

[Anonymous]

I would have hidden something smelly in the car and then returned it a la Grumpy Old Men.

[Anonymous]

classic bait and switch. return.

[Anonymous]

They did not return it. According to them, they were able to clear up the price issue to their satisfaction but also said that it wasn't a problem because the payments were the same. Ultimately, the car is a lemon. It's on it's 3rd transmission (in 4 years)...

[Anonymous]

Anonymous wrote:They did not return it. According to them, they were able to clear up the price issue to their satisfaction but also said that it wasn't a problem because the payments were the same. Ultimately, the car is a lemon. It's on it's 3rd transmission (in 4 years)...

They deserve that car. LOL

[Anonymous]

It is a common trick of car dealers. There was an article about I a while ago and sellout in the Morning talked about on his show. I think the consensus was it is not ok and they can’t change anything but most people panic and make some deal because the amount is not “that much” and they want to get over the hassle. But is is basically a scam

[Anonymous]

OP, it's not a a Dodge/Chrysler/Jeep by chance?

60*250=15,000
84*250=21,000

Your friend sounds a little dull.

[Anonymous]

How can they change the terms of the loan?? Did they finance thru the dealership? We financed through our employee credit union and I don't understand how a car dealership could change those terms.