Q: Hello I need help is this true or false
Based on the information provided, it appears that you have paid for more than half or 60% of the car, and there are concerns about the protection you have under the contract.
Typically, when you sign a contract for a car loan, the terms and conditions are based on the initial loan amount. However, it seems that in this case, the lender sold the contract for $17,000, and there may be new terms and conditions that you have not received from the new lender.
Additionally, there are issues with the extended warranty and gap insurance, which were not honored by the second lender since they do not offer extended warranties. This could be considered a breach of contract.
It is important to review the terms and conditions of any contract thoroughly, particularly when it comes to financial matters such as car loans. It may be beneficial to consult with a legal professional or financial advisor to ensure that your rights are protected and that you understand your options moving forward.
A: The information is false. The sale of the contract does not alter or change any provision of the contract. All the original terms, including your warranty, remain in full force and effect.
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A:
Based on the information provided, it appears that the statement is true. It seems that you have paid for more than half or 60% of the car, and there may be concerns about the protection you have under the contract.
It is not uncommon for lenders to sell contracts for car loans to other companies. However, it is important to carefully review any new terms and conditions that may come with the new lender. In this case, it appears that the second lender did not honor the extended warranty and gap insurance that were included in the original contract, which could be considered a breach of contract.
To protect your rights and ensure that you understand your options, it may be advisable to consult with a legal professional or financial advisor who can review the terms and conditions of the contract and advise you on how to proceed. It is important to thoroughly review any contract before signing, and to ask questions or seek professional advice if you have any concerns or questions about the terms and conditions.
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