Auto dealer said they’d pay off my other loan if I purchase a car but didn’t
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Auto dealer said they’d pay off my other loan if I purchase a car but didn’t
Auto dealer said, ‘Put down 2000, we’ll pay off your loan’ I downsized to a less
expensive car Buick and they took my Mercedes Benz and agreed to pay the rest of
that loan but instead tacked the whole thing onto the car payments for the buick
Asked on December 3, 2017 under Business Law, Michigan
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
If they lied about what they would do with the loan to get you to buy the car, they committed fraud: fraud is a knowing or deliberate misrepresentation (lie) about a material (or important) fact, upon which you reasonably relied (i.e. no reason to doubt them). Fraud can provide a basis to either void (rescind or undo) the transaction (i.e. you return the car, the financing is cancelled, and get your old car and money back, less possibly some small amount for the use you did in fact make of the new car) or to seek monetary compensation. You would do these things by lawsuit (that is, suing them for fraud.) Sometimes, when it is a consumer fraud (e.g. a fraud by a car dealer against customers), you can get enhanced or additional compensation. Based on what you write, you may therefore have legal recourse; it is worth your while to consult with an attorney to explore your options.
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