In WA state their original (written) agreement would be legally binding. If it was me, and in WA, I would simply tell them that its their responsibility to uphold the contract as written.

If the dealership needs to buy the loan from the creditor and your payments go to the dealership thats fine with you, you dont care. But a breach of contract lawsuit will cost them more than simply buying out the loan and upholding the contract through the dealership.

Case in point, dealerships buy the cars from the manufacturer and lease them until sold (in this case, to you).

However, I am uncertain of TX's contract regulations. It would be worth your time and energy to consult a lawyer and if it cost you an hour of his/her time that would only be a few hundred dollars. And if they needed to draft a letter to the dealership with a clearer picture of the dealership's legal obligations it would further save you energy.

 

I agree that you should not go out of your way for the dealership in any way.

But the thing that i dont get, so what if you cant get the 0% for 36 months. Get an outside loan and pay the 3-5%. maybe even extend it for 60 or 72 months if DTI (debt to income ratio)becomes an issue, You might even get approved that way without a co signer.
I cant even imagine paying a $37,000 in 3 years if i did not have a bunch of money saved up for it. Thats a $1027 monthly payment.

 

The OP is in California. I don't think (at least until Rick Perry is elected president) that Texas law applies there.

 

these kind of things stem from poor judgement on the dealership's part. it is completely 100% their fault

but that doesn't mean you have any legal right to keep the car, so don't bother trying to argue that. the contract you signed has no merit because it was a projected contract - they wrote it up on the loan they thought they would get approved easily later

I would complain up to the GM about the time and money wasted for you having to bring the car back since it seems like it would cut into your work heavily. You could easily go to court over the money it cost you over their mistake

but you don't have any legal merit to even try and fight for keeping the car, so I wouldn't waste your time arguing that. just focus on arguing how the dealership is going to make up for your wasted time

 

You paid too much. Be happy you are getting to walk away. Next time, get your financing in order from your own bank or credit union then go shopping.

P.S. My friend paid under 30k for his new year end 2010 GSR from Southcoast. They will be just as desperate to move those 2011s soon enough.

 

Are you HD from StarCraft 2?

 

As it has been said over and over again in this thread.

Tell them to send a driver to pick the car up and go buy one somewhere else especially since you paid to much.

 

Give the dealership two options, either they uphold their end of the agreement with respect to payments and interest rates, or you return the car and walk away from the deal.

 

until the OP comes back to tell us what is happening, I think we're all just ...

 

Just see if you can get a loan elsewhere. As some others have said, those monthly payments are crazy. That tells me that you can afford quite a bit and shouldn't have much of a problem putting at least something down. See if they can get you financed for a longer term with 20% down. If they won't help, go to a bank or credit union. Even if you have to pay 3-6 percent, it isn't really that bad. I'm 29 and I think mine is like 4.XX %.

 

$37k for a GSR! That's more than I paid for my barely used 2010 MR!

 

37k is nuts. What options came with it?

 

37K for a brand new car. I'm guessing thats with liscense and registration completed. I know some dealerships do that here in WA. They give you the car to take home, then a few days later...ring ring, sorry the loan didn't go through, we need you to come in with a bigger down payment or another cosigner. They tell you you can take the car home so you can feel the ownership of the car, so when they say you have to return it, you already feel like you own it and don't want to give it back and will do anything to keep it.

Best advice. Have fun with the car while you have it.

Find a credit union for a loan. Never ever let the dealership find a loan for you, why would they go through all that trouble to not get something in return....incentive.

Don't tell them your credit score, they can't check it without your permission. (make sure you have a loan from a credit union before you go in)

Don't tell them you have a loan. Listen to their offers and work them down best you can. Once you feel like they are giving you their best offer, low price and low apr. If they bring up an apr that sounds rediculous, bring up your loan.

It's alway good to be a step ahead of someone that wants your money.

One thing, don't expect to get a brand new evo X for dirt cheap. So you gotta be resonable with what your willing to pay.

 

He doesnt state the state in his info. If I told you I was from "puyallup", "nanaimo", "Everett", "Des Moines", "South Bend" or "Illwaco" would you know what states those are from?

And regardless of what state, I gave valid info for my state and encouraged him to do some research into his state's governing laws.

Which is a whole **** ****ing **** more info than you gave him.

 

^yes he does... he said he bought it from a dealership in san jose, california...