Q: Just purchased a car from a dealership and afraid of yo-yo financing scam
On the contract, it states "How this contract can be changed: Important: Read before signing. The Terms of this agreement should be read carefully because only those terms in writing are enforceable. No other terms or oral promises not contained in this written contract may be legally enforced. You may change the terms of this agreement only by another agreement."
The dealer swears that this means that himself, the bank doing the lending, and myself would have to agree to a new contract in order to change this current contract. It doesn't spell that out and I'm a little paranoid with all of the yo-yo scams that dealerships do where they require the user to come back in "because the financing fell through". Which they then refinance it for several interest points higher. When this says "You may change the terms of this agreement only by another written agreement", was the dealer telling the truth?
A: That language won't necessarily prevent other language in the agreements you signed from giving them wiggle room on financing. Hard to say without reading all the agreements.
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