Bronx, NY asked in Banking, Civil Litigation, Consumer Law and Gov & Administrative Law for Florida

Q: what are my options once contract signed for car loan process, same day dealer drop price and continued advertising new

After singing and in processing used car loan agreement contract, in the same day local tampa bay dealer drop car price continue advertising price drop. Am I entitled to new car price drop, even loan contract signed,send forbank approval?? what are my options. Thanks,

2 Lawyer Answers
Bruce Alexander Minnick
Bruce Alexander Minnick
  • Business Law Lawyer
  • Tallahassee, FL
  • Licensed in Florida

A: The (amazing) fact that the dealer lowered the price on the same used car that you were purchasing that same day has nothing to do with your transaction. The written contract you signed was complete when signed.

Charles M. Baron agrees with this answer

Charles M.  Baron
Charles M. Baron
  • Consumer Law Lawyer
  • Hollywood, FL
  • Licensed in Florida

A: No, not unless the dealer advertised (or had in a contract) that they will match a price drop that occurs after a deal is done (which no dealers do). But do make certain of the timing of the price drop. If you can prove that it dropped BEFORE the deal, you would have a case for false advertising.

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