I need some advice. I recently purchased an automobile and all of my contract paperwork list a specific company as the lien holder. Several days later, a representative from AmeriCredit called asking questions. Yesterday, the title to the auto came and the lien holder is listed as AmeriCredit.
Our contract has a 'No Cooling Off' Period which states that "State law does not provide for a 'cooling off' period or cancellation period for this sake. After you sign this contract, you may only cancel it if the seller agree or for legal cause. You cannot cancel this contract simply because you change your mind. This notice does not apply to home solicitation sales."
The contract further states: "How this contract can br changed. This contract contains the entire agreement between you and us relating to this contract. ANY CHANGE TO THIS CONTRACT MUST BE MADE IN WRITING and we must sign it. No oral changes are binding. (signatures) If any part of this contract is not valid, all other parts stay valid. We may delay or refrain from enforing any of our rights under this contact without losing them. For example, we may extend the time for making some payment without extending the time for making others."
Now, my question is this. Because the finance company listed on the contract is one completely different from the one on the title, is it within my legal right to return this car and cancel the contract?
When I spoke to the dealership to ask them about this discrepancy, I was told the computer was down and he could not look into the account, and that he would call me on Monday. But then he also said that he knew we were not financed through AmeriCredit... So if the computers are down, how does he know this? And if AmeriCredit is not the financier, why are they on the title as such?
Does anyone have any ideas? Your help is greatly appreciated.
Eastern Shore, Maryland