Dealer contract rewrote?

Question

we bought a 95 gmc suburban 2500 for $4995.00 it was advertised for

$4995.00 here

http://www.getauto.com/autolinks_cardetail.html/adid-13232837/e_dealer_id-/inventory-/x_dealer_id-

we signed a contract stating the price as $4995.00 we paid $1000.00 down and got the rest financed thats ok today i got a new contract in the mail saying that the price of the vehicle is now $5395.00 and that if i don't sign the contract i have to give the car back is this right? i know if we couldn't get financed for the original amount we wanted that the payments and stuff might be more because of a higher interest rate or something but to raise the price of the car after you already told us it was $4995.00? how can this be please any help would be appreciated

Answer 1

If you ave the original contract and receipts go to the dealer and ask for the Office Manager, Sale manager or the Owner... (don't deal with the sales rep). Show him both the old and new contract and the receipt for the $1.000 dollars and ask him to make sure that the finance company gets the correct information. The should be able to contact the finance company at that same moment (eve small dealers do) demand to be on that call, get the finance reps name and phone number. Dealer should be able to fax the new contract to the finance company. Then wait a couple of days and call the finance company to make sure they have changed the financed amount. I wish you the best!

Answer 2

Sounds like they are trying to rip you off. They shouldn't be able to change the price once the contract has been signed.

Answer 3

It sounds like they couldnt get your original contract through final approval.  Its common practice for dealers to sign you up before they have a final approval.  You probably were turned down by the lender and they got you approved somewhere else.  That lender probably has some fees for the approval and the dealer is passing it to you.