I bought a used car in nj. The bank wants to cancel the deal bcz they thought it was a 3.0 not a 2.5 Xtype.?

Question

The bank wants to cancel the deal or have me put $4000 down. What can I do? What should I do?

Answer 1

Something does not sound right because there is not a $4000 difference in those cars because of the engine size.  A J type vs. an X type I could understand because they are completely different models.  I would suspect if the salesmen told you this, he made a mistake with the numbers and is trying to cover it up and keep the deal going.

Answer 2

Put four thousand dollars down or cancel the deal.

Answer 3

Did you/they already sign the deal? if so its a legal document said and done,have you made a payment yet?. You have to ball in your court its not your fault they didnt do their homework. tell them you want compensation for your time and effort and for making you go looking for another car due to lack of due dillegence. This happened to a friend of mine he said that he would not cancel the contract and told them for 1500.00 he would,they cancelled for 750.00. Good luck.