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This is a financing question. I purchased my touareg 10 days ago and today my dealer calls me and says that I'd need to put an extra 1000$ down and my payments would go down a lil bit. I told him I don't want to do that and he said he'll get back to me.

now - what are my rights in case the dealer or the bank want to change the terms ? can I give him the car back if I don't want to comply with them ? can I insist on the original deal ? what's the scoop ?

thanks.
I.
 

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Disclaimer: I am not a lawyer. This is opinion only.

What you signed is a legal contract. The terms are layed out and both parties agreed. Unless there is a clause that allows the bank to change the terms (with notice, presumably), then they can request you to do this.

However, I do not believe this is possible. I believe the rates and other terms are locked in for the length of your term.
 

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I'm also not a lawyer, but as long as you signed the agreement that they presented, then both parties are bound to the agreement.

Mike is also correct that if there is a clause where the bank can change the terms after the fact, then they could have wiggle room. This would be a pretty sleazy thing to do, and if it's a reputable bank, they probably wouldn't do such a thing. My question for you is did you read everything you signed?

It's likely that they've got some addtional incentive going on with the dealership. You should check to see what the difference in your rate would be. Also check with the dealership. If they do have an incentive deal going on with the bank, you might be able to get them to split the incentive with you, which might make the extra $1000 doable.

Brad
 

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And by all means, check with another dealership. Don't do biz' with someone who tries to change the deal after you are hooked. Find someone honest who will support you later if you should need it.
 
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