First, apologies if there is a better subreddit, more automobile-focused, in which to ask this question. If there is, I'd be happy to learn about it.

I'm trying to help out a friend who was in a traumatic situation last month and made some unwise decisions while trying to get out of it, motivated partly by panic and partly by a lack of life experience.

One of the things that she did was to purchase a brand new SUV in a city 3 states away from our currently location (they fedexed her the paperwork and had her fedex it back to them), in a city in which she has no friends or family. She does not currently have stable employment and when she gets it it will likely be at a low wage, possibly minimum wage, so she is ill-equipped to afford that car note. After speaking to myself and a few other friends in her support circle, she has decided to undo that car sale by whatever means available and acquire a cheaper car in her current city, so long as that can be done without a huge financial loss.

I've spoken only briefly to the dealership at this point; I have not yet spoken to the bank that is her lender for the car note the dealership set her up with. A brief query of the internet on this topic indicates to me that there isn't any simple way to hit "undo" on the purchaing paperwork she has signed. She didn't keep a copy of what she signed, and the dealership has objected to sending us a copy of it by email, citing privacy concerns; she had been telling them that she would come to the city in person to pick up the vehicle, so they had been intended to give her a hard copy. Regardless, they say that the sale is final and can't be reversed, and my understanding based on google searching is that that is indeed the standard for car purchases.

In my brief conversation with them, the dealership indicated that her options were to sell the car back to them or essentially do a trade-in for another vehicle, but they wouldn't quote me a price because she wasn't on the line with me at the time, and they objected to speaking about her transactions without her present (understandable). We are inteneding to call them back soon together to find out what price they would offer her.

I don't know what price she paid, but it was a new Mitsibishi SUV so I imagine it was in the ballpark of $30k. I believe her interest rate is in the neighborhood of 8%. She was not able to put any money down. The dealership is in Tennessee.

As you can tell from some of these details my friend was not in the best state of mind while making this purchase, but in the dealership's defense she may very well have been presenting as a reasonable person making a rational decision. She doesn't have any current disability status or diagnosis of mental illness, although that might be something she will look into in the near future, and she did sign legal documents without coercion…so I don't know if there is any case that could be made that the transaction should not have been valid.

My questions are:

  1. Is it correct that selling the car back to the dealership might be her best option for undoing this decision and recouping most of the loss? Or are there other options that I could pursue with her?

  2. In this situation, what would you consider to be a fair price for them to offer her, relative to the price she purchased it for? She hasn't driven the car off the lot, but I understand that conducting the sale requires some labor on their end that should be paid for, and I also understand that the basic rules of supply and demand are different when selling to a dealership vs. buying the same car from a dealership….and furthermore I understand that if selling the car to them is truly her best option, they have her at an incredible bargaining disadvantage.

Thanks for any advice you can offer!

submitted by /u/Hayes77519
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