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The problem I am having is that I’ve had this car for 7 months and they are still not reporting to the credit bureaus as promised; it is doing nothing to help my credit score. I have made every payment on time and would like to trade it in for something newer. Can I legally turn it over to the finance company without recourse due to misrepresentation?
Asked on April 18, 2012 under General Practice, Michigan
Answered 12 years ago | Contributor
Do you have the representation in writing from the seller of the vehicle regarding reporting to third party credit bureaus that payments are being timely made or was the representation orally made?
If the representation concerning the reporting is in writing and you have a copy of such, I would go down to where you purchased the vehicle and speak to the manager as to why the representations to you have not been honored concerning the credit bureaus.
If your request is not honored, your recourse would be to contact your state's department of motor vehicles which oversees and regulates auto dealerships as well as fields consumer complaints. You also can consult with an attorney that practices in the area of consumer law about your situation.
Unfortunately from what you have written, you do not have a basis to cancel your purchase of the vehicle that you have written about and turning the car over to the lender will do you more harm than good from what I presently see in your question.
I suggest that you continue making your payments on the vehicle that you bought to the lender.
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