Conditional Contract for buying a car?

Question

Hi all

Today we went to see a Toyota corolla 09 which my mom liked but we didn't like the price. We might go thru with the deal since I'm getting 2.9 percent interest. However, the salesman (and manager) offered me a conditional contract. Both stated several times that it was not a committment to buy - just it was putting a hold on the car so that it won't be sold to anyone else. The manager also confirmed. I read the first paragraph of the contract and it said "buyer agrees to buy if there is a mutual agreement" blah blah but I forgot what else it said.

I looked online and the sources say these are pre-committments. We are not 100% sure we are going with the deal, can we still back out? The contract had no numbers, figures, NOTHING but those statements I typed. I hope I wasn't blatantly lied to. :(

Thanks for your help.

Answer 1

Dont sign anything until you find out exactly what you want, what the final numbers are and then even after all that, shop 2 more places. Dont give any money to hold a car, they make millions of cars, they will make another one.

Answer 2

a hold on the car? thats the stupidest thing i have ever heard..a 2009 Corolla is not that hard to find..plus dont buy that peice of c**p car..we bought a camry last year and it depreciated 7k!

also what do you think they get out of signing that contract if it benefits you?..nothing! so what was the whole point..some way there are gonna s***w you!

Answer 3

Personally, I wouldn't sign **** with them. There's plenty of dealers you can deal with, and right now you can get financing anywhere from 0%to 2.9 % depending on the length of the agreement 3,4,5 years and your credit. I don't trust these guys. Don't give them a deposit or sign anything. Shop around and take you time. Good Luck.

Answer 4

Since the 'document' you signed had no numbers on it, no money was exchanged and no vehicle was taken, the only purpose of this was for the salesman to get spiffed on a 'write-up'.