I havent had Credit cards or anything at all. 0 rating as bad as it gets, at least its no credit not bad credit.

 

On the back of my contract it says this... I'm sure its the same for yours.

Sellers right to cancel

a. Seller agrees to deliver the vehicle to you on the date this contract is signed by Seller and you. You understand that it may take a few days for Seller to verify your credit and assign the contract. You agree that if Seller is unable to assign the contract to any one of the financial institutions with whom Seller regularly does business under an assignment acceptable to Seller, Seller may cancel the contract.

b. Seller shall give you written notice ( or in any other manner in which actual notice is given to you) within 10 days of the date this contract is signed if Seller elects to cancel. Upon receipt of such notice, you must immediately return the vehicle to Seller in the same condition as when sold, reasonable wear and tear excepted. Seller must give back to you all consideration received by Seller, including any trade-in vehicle.

c. If you do not immediately return the vehicle, you shall be liable for all expenses incurred by Seller in taking the vehicle from you.

d. While the vehicle is in your posession, all terms of the contract, including tose relating to use of the vehicle and insurance for the vehicle, shall be in full force and you shall assume all risk of loss or damage to the vehicle. You must pay all reasonable costs for repair of any damage to the vehicle until the vehicle is returned to seller.

 

14.98%? What is your payment, $600 a month? Geez. I'm no psychic, but I'm guessing you live with your parents.

 

Just take the car back. They can either accept it and cancle the deal, or they can sue you.

Hint: They ain't gonna sue you-you got nothing to take.

bill

 

Seems to me that based on the language of the contract that silverZ2006 provided, that you just take the car back. It will be put back on the lot as a "rewind" and sold to someone else. They cannot force you to buy another car and must return your old car and any down payment if they could not get financing. They seem to be playing a little bit of hardball just to make a buck or two. Depending on where you live though, this could be different. I had to wait until I was 30 to get my first Z, but it is much more worth it when your insurance and payments are lower. This way you can actually enjoy the car instead of stressing about it. Good luck, man, and keep the faith; if you want it, it will come!

 

Just take the car back. They can not force you to buy another vehicle.
It's that simple.

 

My payments are $470 and no I dont live with my parents.

And thanks guys Ill just have to hold off untill I can better afford it. It will make me appreciate it more, not that I have a problem with that anyway, and it will also keep me working alot harder for the next year. Ill keep you guys updated.

And silverZ2006 thanks for taking the time to type all that you guys have been really helpfull.

 

I don’t know what you should do. If Nissan cannot find a lender – they cannot find a lender. Essentially you are driving the car temporally. Keep in mind that the dealer has not applied for a title (no lender – no title).

 

The contract is contingent on a loan. You have no loan – so you have no contract. Yes you can return the car, hand them the keys and say Thank you very much gentlemen goodbye.

 

Thats what Im getting talking to my lawyer so thats what Ill do. Their SOL. I overpaid anyway. At least I got to drive a Z for a week for free! I drove the **** out of it too!!! Haha. Oh well Ill be getting one soon enough. 2008 here we come!!!!!!!

Thanks guys, I really appreciate it. I am really bummed though Ive wanted a Z for a long time. And I can really only blame myself, if I was smart about it I would have had credit established and played my cards right. You live you learn. Young and stupid, but at least Ill admit it. Now, whats the minimum salary I should have to be able to afford a Z?








*just kidding*
See you guys around,

~Fleshstorm

 

Heres the deal, I dont think that I can do anything untill the dealership officially asks for the car back, (which they give themselves 10 days as per the contract). So they could still possibly find someone to take my loan. Unfortunately at this point I would rather just give the car back and buy from somewhere else.

 

Ive since learned that once the dealerships 10 days are up they have the option of taking on the loan themselves. What are the chances that they will end up going this route? Does anybody know? I would rather give the car back at this point, and get it from somewhere else.

 

Well I don't know if this helps or not but I'm 23 and I work full time, however I did get my mother to co-sign for me and I did get the loan through her credit union, since I was getting a better interest rate which was 4.5% at the time and I financed for 3 years so my payments are $660/mth. Kinda pricey but I'll pay my car off sooner, I can pay more then $660 and not get penalized, and the faster I pay off the car the less fees I'll be paying off in the end. Point of this is that if your young its always smart to get someone older and wiser who has good credit to co-sign for you and also shop around for the best place to get a loan...just cause one place is to high or won't give it to you doesn't mean that another one won't. And most importantly, RESEARCH the financial aspect of buying a car just as much as studying the car itself. my 2 cents

 

My friends girl had the same situation. She went to the dealer to look for a new car and she drove homw in new car finanaced @20%!!!

my friend went there a few days after he found the contract and returned teh car. he said that his girl is on some medications and if they dont take the car he will sue them.

do something similar.

 

See thats where I went wrong. I researched the car knew I could afford it, and didnt care about anything else. I wish I had someone to co-sign but I dont. I could spend some more time shopping for a loan but I havent found anything close to what my dealer found for me. Im starting to realize just how bad this timing is for me. If I can wait for another year I will be in much better shape to be buying this car.

Where it stands now is they have untill Monday to get my loan approved if they cant then they will either take the car back or theyll have to become the bank and take on the loan themselves. Does this give me any benefit vs having the loan go to a broker?

 

How long ago was this? And how long was a few days?

 

I will say probably 2-3 days

 

apparently they passed a law recently stating that a buyer has 3 days and 250 miles to decide if they want to go through with the sale, upon returning the car the buyer must pay a restocking fee if the selling price of the car is under 20K its $250, and if the car is over 20K its $500. Did your friend meet this criteria? And did they have to pay the restocking fee? Im past the 3 days so I dont have this option. But it works in my favor cause if the dealership breaks the contract then I shouldnt have to pay the restocking fee.

 

Why get a car you can't or don't want to afford. They can't get you funded so take it as a sign and maybe get a SEARS card or something.

 

i feel bad for the next person to buy this z.. after u beat the **** out of it