Q: Dealer wants me to return to dealer to make a new contract with higher interest rate? Legal? Approved and home.
Bought motorcycle 5-1-19, signed and agreed to everything then drive home. Dealer calls wanting me to return to change my rate from 11 to 15.4 due to an employee error. Dealer had 3 hours to go over paperwork with me and verify everything was correct prior to leaving. They are calling and sending emails telling me I need to return to make a new contract or return the motorcycle.
A: Obviously a lawyer would need to read the contract to advise you if this is allowed, but many contracts state that the financing is subject to final lender approval.
A: Your question would require an in person consultation to read and review the contract. Every contract is of course subject to the ultimate decision of the financing company. If there was an employee error, chances are they will be able to charge you the higher rate. Good luck.
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