basically went to dodge dealership. got a 06 dodge charger, but my mom had to co sign. so they overnighted the papers to her. i just got it monday. my dad thinks that since i got the car based on my moms credit, that we should have gotten the 0% financing. however, the charger does not offer 0% financing. anyways, the monthly papers are gonna be way higher than i expected and i calcualted the insurance. if i want to take the car back , stipulations include if i wnat to take the car back or exchange it, the stipuatlions are 50 cents per mile, 5% restocking fee. pay taxes and tags.
i mean all i am trying to do is exchange the car. get sometthing cheaper, the stratus most likely. if my mom's name is first on the list as the general person and mines is second on the list. and my mom has not co signed yet. is this contract still valid?? can someone please help?

 

If your mother has not signed yet, then I'm assuming that the financing has NOT been approved, nothing is done until its signed. Tell mom not to sign anything but send the paperwork back to you - not the dealer. When you get the paperwork back from your mother, then take that to the dealer and tell them your mother would not co-sign cause things are too high. Tell them to work up a Stratus or whatever and see where you stand then as far as monthly payments, insurance, etc. If that works for you, then send off to your mom to co-sign.

dave

 

so i just got the car monday. i keep reading rules on the net that if you drive the car off the lot, you own it. however, once you test drive a car and the miles go past 0. isnt the car still considered used. whats the difference here??

 

Technically - A used car is one that has had a title issued. That is why some program cars and dealer demos are not considered used because an original title was never created.

I agree with Dave. The risk was the dealer's when they let you drive away with no money in their pocket. Get the (unsigned) papers back from mom and give them the car and the papers back and tell the dealer you would like something more affordable. You will consider buying it from them based on how they handle this transaction. My bet is they will cut their losses in order to get something from you.

Good luck!

 

ok i am in delaware. my mom is in virginia. they said to return the car, i have to pay 50 cents per mile, 5% restocking fee. pay taxes and tags. does this apply if my mom hasnt signed the papers?? also, the longer i keep the car, i think the worse off its gonna get. should i just take it back today without the paperwork??

 

Sounds about right ^^^
Its still a new car. And it was your dealers risk when he let you drive home a new car that was not paid for yet.
We never do! That car is MINE until I have money.
Might be a little dirty, but totally legit to just hand them the keys and walk away.

A new car is still a new car reguardless of miles. Only when it leaves the possesion of a franchised dealer does it become "used".
And since your mom did not sign for it, and obviously could not title it, it was still technically in the dealers possesion.
The 30 return policy should not come into play on this deal

 

wow, thanks guys. so basically dodge is just trying to scare me off. im trying to do business the right way. i already have a better off from toyota on a matrix for 7% financing. just about everyone is getting the foregin cars and not american. yes people say the matrix is a girl car. but its in my budget. hey if anyone can find some legal documentatiion on the net about this thing, i would greatly appreicate it. also, will dodge charge me anything? i put down $1500. do i get my money back???

 

Well first dont confuse DODGE with YOUR DEALER.

DODGE, does not have any of your money yet - not without a signed contract anyway.
Your DEALER has your downpayment, and I would think it would be pretty low to keep it - but I would bet legally has a right to keep it.

I can't believe he let you take the car home, with you thinking you owned it, without a signed contract (not just a buyers order, but a CONTRACT). Sounds like you guys didn't even discuss what your payments would be... I just think this salesman jumped the gun - bigtime. But whatever you do, if there are not two sigs on the contract there is no way you bought that car and therefore you would be exempt from the 30 day return - since you never owned it to begin with.

 

Is there ANYTHING that you signed whereby you agree to the $.50 per mile, etc.? My guess is that there is nothing to that effect. They should give you back your down payment, since that was contingent upon your mom co-signing a contract - I'm sure the contract indicates your $1500 down payment.

I bought a Plymouth Sundance once. Took it home, a couple days later decided I wanted the "Duster" (the one with the V-6). I took it back, and, after a bit of arguing with the dealer and my salesman (I had known the salesman for quite some time), they gave me full credit towards the car I wanted. If this dealer wants your business, he will do all he can to do the same thing. After, not before, he takes the current car back, AND you have your down payment back, then start talking about possibly a Stratus or whatever. You can always, at this time, hit him with the Toyota deal.

Good luck, but you should get everything back - no harm, no foul.

dave

 

does anyone have anything in writing stating that if the cosigner does not sign a legal contract, then that contract is not valid??