Pmt is $476 per mo. $302 for interest and $174 to principal. It is a 2002 car. The balance
is $17,515.00. Is there any way out of this mess? R.P.Car is worth $5600 (High Blue Book)
Taking what Ron Burdge stated so eloquently one more step, you may wish to contact another loan company, even a local credit union, to see if you can do better on the interest. Perhaps you can take the contract (with interest) price down from 300% of the vehicle value to something closer to 200% or less? That is, assuming after your consultation with an atty there is no way to get out of this contract...
If you buy a used car and sign the sales paperwork and later on feel like you got a bad deal, can you get out of it? For that reason alone, the answer would be “no” - but without knowing more of the details, it is impossible to say for sure. In a used car sale, the general rule in every state is that your rights are mostly determined by the paperwork you sign and what the dealer said to you. There are often ways to cancel a deal that exist legally, but to really know if your deal is legally binding in your case, we really need to know more about what the dealer said and what all the sales paperwork said that you signed and any other details of what occurred. You can go to this web site page for a Free Online 50 State National List of Consumer Law Lawyers (http://www.ohiolemonlaw.com/ocll-site/ocll-locate_local.shtml) and find one near you (lawyers don’t pay to get listed here and most of them are members of the only national association for Consumer Law lawyers, NACA.net). You can also serach for one on Avvo.com under the Find a Lawyer tab or telephone your local attorney bar association and ask for a referral. But act quickly because for every legal right you have, there is only a limited amount of time to actually file a lawsuit in court or your rights expire (it's called the statute of limitations), so don't waste your time getting to a Consumer Law attorney and finding out what your rights are. If this answer was helpful, please give a “Vote UP” review below. And don’t forget to indicate your Best Answer too. Thanks for asking and good luck.
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