Posted by Ali/IL on 6/29/06 9:50pm
Msg #129744

I need advise please!

This has nothing to do with signing.

But, I need to help my children. My daughter is young and her partner too. They went last night and bought a car. The interest rate is too high!

The car was bought for $18,000 at this price do they have a right of rescission?

Tia

Reply by MistarellaFL on 6/29/06 9:57pm
Msg #129746

OMGosh!
I have't seen an RTC on any vehicle I have purchased, but I have never had a new car.
Check the paperwork 1st, if unresolved you may want to check with laws/statutes for your state. Maybe it would be worth it to contact an attorney if you can't get any answers yourself.

Reply by LkArrowhd/CA on 6/29/06 10:02pm
Msg #129747

Re: I need advise please!Wow that's a tough one but I think

once it leaves the lot, that's it. That's really a shame....

Reply by BarbaraL_CA on 6/29/06 10:15pm
Msg #129749

You don't say how old your daughter is or if she has any credit history. Interest rate on auto loans are determined on FICO scores.

Reply by Blueink_CA on 6/29/06 10:20pm
Msg #129751

I feel for you Ali. However, this will be a great lesson for your daughter. My daughter bought on impulse and the next day, when she found out how much insurance would be, she cried and wanted out of it. That was two years ago, now, she consults us before she does anything financially. Live and learn.

Reply by Erin C. Wall Signature Services on 6/29/06 10:40pm
Msg #129753

She will be fine.

She will learn. She did not consult you then, and she will not listen to you now. Allow her to suffer her own consequences. Only then will you ever hear that you were right...(10 yrs later) Enjoy it Mom!! Allow her to fly........Enjoy her .....She rocks and so do you. No worries....let life's education happen before Somebody U ..does. Just love her. that's all you can do.

Reply by TitleGalCA on 6/29/06 10:52pm
Msg #129759

Actually Erin

You are correct to a point, but fall short.

Correct? "and she will not listen to you now". You nailed it.

Suffer the consequences? Yes. Chalk another point.

Allow her to fly??? No Way, Erin. Here, you show your inexperience. A truly wise Mom will hang tough, in spite of the adversity.

"She rocks and so do you"???? Please, Erin. This is not a popularity contest. This is real life and this Mom is experiencing real consequences and difficulties.

"That's all you can do". No Flippin Way. It's so damn clear you are so very young. Please don't insult the real Mom's here with dribble. We know better.

Hey Erin, go for it with Notary Stuff, but don't mess with Mom stuff, that is sacred, and you dont' have it goin' on.

Reply by TitleGalCA on 6/29/06 11:02pm
Msg #129763

Your profile...is seriously disturbing

To click on it makes it abundantly clear...I'm just curious what you are trying to accomplish.

No signing service or Title Company will justify that pictoral of your profile and we all know it.

So, whats the justification? Darlin' if you know you have issues that's one thing. To flagrantly advertise them is another.

Without giving credence to your enemies...why are you making them correct???? Just have to ask.

Reply by Erin C. Wall Signature Services on 6/29/06 11:45pm
Msg #129813

Title Gal... You are old

I deal with old people who skate. Say what you wish, I have already been bashed here. That makes this place fun, my kids have parents who are in your line of work. They know me as the sk8 Queen. In this neck of the woods, they know who I am.

Reply by Signing_Doc on 6/29/06 10:36pm
Msg #129752

need to check your state laws....here in Nevada, there is a BIG radio/TV push on telling all that Nevada has NO right to recission on used car purchases. If you buy it, THAT'S IT. However, it doesn't state if you have or don't have that right to new cars. Not practising law or giving advise, but IMHO, if she is over 18...and the state advises you that you don't have a right to cancel, then...sorry to say she is stuck. As stated by others, interest rate depends on many things and this may factor into the price, however the bottom line is (i'm assuming), she is an adult and therefore, has to do with the situation. If she is NOT of legal age, then of course it is another story. Good Luck "Doc" (not a doctor, or a lawyer, and I don't give legal or medical advise) Just my opinion

Reply by rengel/CA on 6/29/06 10:51pm
Msg #129758

send her to the bank or credit union, get a better interest rate loan and pay off the finance co that the stealership hooked her up with.

Reply by MistarellaFL on 6/29/06 11:01pm
Msg #129762

Rengel, that is sound advice..... n/m

Reply by Missy_Lulu on 6/29/06 11:12pm
Msg #129767

Isn't the RTC option on the purchase of a vehicle only if the loan is secured by a principal dwelling?

There is a poet by the name of Kahlil Gibran who says:
The parent is the bow and the child is the arrow. The parent can aim the child/arrow with the bow but once it has left the bow they can only hope they have aimed them in the right direction. I have always felt that was a really cool metaphor.

Reply by TitleGalCA on 6/29/06 11:15pm
Msg #129772

Missy, since when is legal issues

equivalent to spiritual/religious issues?

For heaven's sake, you all need to go hug a tree for a week. It will cure you, the bark is rough on the skin.

Reply by Missy_Lulu on 6/29/06 11:21pm
Msg #129777

Re: Missy, since when is legal issues

Religious issues? Where is there any religious connotation to my post?

Reply by Erin C. Wall Signature Services on 6/29/06 11:56pm
Msg #129819

Apparently speaking up makes....

you a protestant, because you protest. This board has no credibility, nor does its insults. Worry not my sweet Iowa thing, this is only for fun.

Reply by Jahari Davis on 6/30/06 11:20am
Msg #129978

Re: Missy, since when is legal issues

TG, I've read the posts in this thread and Erin is right. Missy's metaphor is dead on as well. Missy's metaphor is philosophical much in the way of "If a tree in the forest falls with no one present does it make a sound?" and "Dont use a cannon to kill a mosquito." Perhaps you should look into eastern as well as greek philosophy. The Dali Lama is a great source of wisdom and philosophy as well. Regarding Erin's posts, she's right in that if Ali's daughter will not listen to her, life will teach her those hard lessons and she will go to Ali asking for advice. Erin's "just love her" philosophy is as good as it gets. The bible says love the sinner, not the sin. Same rule applies to parents and their kids and the mistakes they make. I had to learn my lessons just like I'm sure you had to learn yours. You cant tell me you did everything correctly in life with no problems. I couldnt buy that one bit.

Reply by ReneeK_MI on 6/30/06 6:42am
Msg #129903

IL law ...

Quoted from http://www.ag.state.il.us/consumers/auto.html

"NOTE: The Three-Day-Right-to-Cancel Law does not apply to an auto purchase, and Illinois Lemon Law applies only to new cars, not used car sales or leases."

I feel for you. My daughter did this same thing about 5 years ago. It's not easy being a parent - I don't think ANYONE can argue that! You surely have nothing to lose by trying to talk to the dealer's manager or owner. You just never know until you ask, and asking costs nothing.