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Car Buying Advice - questions regarding contract and cancellation for a 2017 Sonata

maximuspersiemaximuspersie Member Posts: 2
edited July 2017 in Hyundai
Hello everyone,

I am in somewhat unique situation and was wondering if someone can give me some advice. Last week I went in to a dealership and negotiated a good deal with my trade in for new Hyundai Sonata limited. They did not have the car on the lot but said they localized the car in a different dealer and will bring it within 2 days. I signed an initial contract which did not contain any information on the odometer of the new vehicle but did have the VIN number I believe. They offered me a loaner car meanwhile, but I took my own trade in car home since we didn't do anything with its title and left the rest of the paperwork for when the car comes in. I did not leave a deposit either because the difference between my trade in and the car was going to be financed.

I was notified that the other dealer sold the car in the interim after I did not hear from the dealership and called them. They told me they will locate another vehicle with same specs for me for same exact price, but it has been a week and they have not been able to.

My question is, I am kind of getting cold feet with this dealership and feel like I am being stringed along, and would rather go elsewhere and make the deal since they are great deals right now at end of the month, do I have any current legal obligation to them with the paperwork I signed, given the fact that the specific car was sold elsewhere? and is this going to cause issues with the bank I was going to finance with in case they submitted that paperwork? I did not receive a copy of any of he paperwork since they told me the bulk of paperwork is going to be done when the car comes in.

Thanks!
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    MichaellMichaell Moderator Posts: 241,316
    maximuspersie said:

    Hello everyone,

    I am in somewhat unique situation and was wondering if someone can give me some advice. Last week I went in to a dealership and negotiated a good deal with my trade in for new Hyundai Sonata limited. They did not have the car on the lot but said they localized the car in a different dealer and will bring it within 2 days. I signed an initial contract which did not contain any information on the odometer of the new vehicle but did have the VIN number I believe. They offered me a loaner car meanwhile, but I took my own trade in car home since we didn't do anything with its title and left the rest of the paperwork for when the car comes in. I did not leave a deposit either because the difference between my trade in and the car was going to be financed.

    I was notified that the other dealer sold the car in the interim after I did not hear from the dealership and called them. They told me they will locate another vehicle with same specs for me for same exact price, but it has been a week and they have not been able to.

    My question is, I am kind of getting cold feet with this dealership and feel like I am being stringed along, and would rather go elsewhere and make the deal since they are great deals right now at end of the month, do I have any current legal obligation to them with the paperwork I signed, given the fact that the specific car was sold elsewhere? and is this going to cause issues with the bank I was going to finance with in case they submitted that paperwork? I did not receive a copy of any of he paperwork since they told me the bulk of paperwork is going to be done when the car comes in.

    Thanks!

    If no money has changed hands, and you haven't taken delivery of the new vehicle, you should be able to work with the dealer to 'unwind' the deal.

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    kyfdxkyfdx Moderator Posts: 237,185
    @maximuspersie

    No car = no deal

    Just call the dealer and tell them you changed your mind. Simple as that.

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    isellhondasisellhondas Member Posts: 20,342
    A smart dealer would have put you through finance and RDR'd the car to you. This would have prevented them from selling it to someone else. Giving them the benefit of the doubt, they were simply sloppy and they left the door open for this to happen.

    You never took possession of the car so, yeah, tell them that under the circumstances that you've decided to go in a different direction!
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