My issue involves a contract dispute with Bill Heard dealership they sold me a car (2003 Allero) in December and by February the deal was not closed although I'd completed all the required paperwork including getting a cosignor, (although I have a 630 beacon score), and I qualified for financing. The deal was incomplete because the sales department failed to close the deal while the end of the year rebates were available. The rebates would have covered the cost of my trade-in (which I was 6,000 dollars upside down.)
I went to them because my step dad is GMAC and I qualified for his discount and they were advertising rebates that would cover the negative equity., but since they failed to close the deal the incentives given by the manufacturer were no longer available. They asked me for more money or to take the car back. They continually lied to me about the status of the deal until the very end. "Oh yeah miss all the deals, fine—don't worry!" I gave the car back and said I would call an attorney.
Currently I am three months behind on the vehicle traded in and my credit score is shot because they never paid the vehicle off. I Don't have the car though I have a contract, the only loophole was that if financing could not be secured the contract would not be binding. Financing was NOT an issue. It was the loss of rebates and their failure to follow through on the paper in a timely manner the sales floor manager even admitted to that. Can they do this even by agreeing to the deal aren't they binded to honor it if I met my end of the deal (qualifying for a bank loan)? Now my credit's screwed and I probably can't get another vehicle. Let me know what can be done.
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