Buying A New Car? Watch Out For Dealer Added Insurances! Part Two

31 Oct Buying A New Car? Watch Out For Dealer Added Insurances! Part Two

Often clients come into the office wanting to know if they can set aside a vehicle purchase because they say they did not realize that the monthly note was going to be as high as it was. Many times when this is the case the client has purchased several of the insurances that we discussed in Part One.

When asked why they purchased all of these insurances I am frequently told that they weren’t given time to read the purchase agreement.

I also recently had a client (client one of this saga) tell me that he was told that he had to have the insurances if he wanted to buy the car. This is simply not true, but this is a common tactic used with customers with less than stellar credit to get them to sign a purchase agreement. They fear that they will not get the loan if they don’t sign.

Be aware that the failure to read a contract that you signed is not a valid reason to cancel the contract. When a person signs an agreement it is presumed that they have read the agreement and have understood it.

Do not let a car salesman pressure you into signing something that you have not had time to read. You must be willing to get up and walk away if you feel pressured.

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I've been a consumer bankruptcy lawyer for nearly 25 years. Since that time I have helped many people resolve their financial problems. I have been practicing law since 1986 and I am licensed to practice in all state and federal courts in the State of Louisiana. Because I am a sole practitioner, you know that your debt matters are being handled by me personally. In addition to my work with consumers, I am also frequently asked to speak at local seminars on bankruptcy law. I am member of the following organizations: • Louisiana Bar Association • National Association of Consumer Bankruptcy Attorneys • Bankruptcy Law Network My office is located at: 3920 General DeGaulle Drive, New Orleans, LA 70114 Telephone: (504) 368-4101

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