What should I do if I purchase a car and then found out that the price I paid is higher than what was advertised on the internet

Asked over 2 years ago - Atlanta, GA

I recently went back to the dealership and showed them the internet printout. They cut me a check for the difference within the total amount. Should I have had a new contract written up with the adjusted price so that car note would be smaller or accept the check?

Attorney answers (2)

  1. 1

    Lawyer agrees

    1

    Answered . The car dealership gets paid in full by the lender. If they cut you a check, and did not have you sign anything for you to receive the check, then you may want to go back to them and work out a deal to take the amount off of the loan and rework the loan. The issue that the higher price you paid for the car will actually cost you more due to the interest rate charged on the loan. If you did sign something, you should have that reviewed by an attorney and discuss you options. Based on the outcome of you meeting with an attorney, you may want to go back to the dealership with the check, or you may want to take that money from the check and send it to the lender making sure that the amount goes straight to the principal.

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  2. 1

    Lawyer agrees

    1

    Answered . While I do not disagree with the previous answer, a quicker way aroun that is to take the balance you got to the back and demad that it be put into the principal of the loan. This would reduce the amount you owe, obviously, and, if large enough, would make a dent in your monthly minimum payments. How much was the original loan for, what was the interest rate, was it fixed or variable, and how much was the amount the dealer gave back to you?
    You might also look into your state's consumer protection laws. If tyhe dealer gave you money back, then they knew they were int he wrong, but what that might mean for you would depend on your state laws.

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