Question about second chance financing and returning a lemon.?
You bought a car. You did not have it checked out by your own mechanic prior to purchase, You took delivery of the car, and signed the finance contract. You had several problems with the car, which the dealer attempted to fix under warranty for you. They were unable to duplicate the problem that you are complaining about, and unless they can, they can not fix it.
You now want to trade the car for another car. The dealer is willing to do so, but they are charging you a price that you consider to be too high. You have two choices, you can keep the first car, and make your payments, or you can trade it in for the second car, at the price the dealer is charging.
If you just bring the car back and drop it off, it will be considered a repossession. The finance company will sell the car, and the amount of the sale, less all costs of title, towing, storage and sale will be deducted from the sales proceeds. This will be applied to your loan balance, and you will be sued for the difference. The finance company will get a judgment, attach your wages and bank accounts, and ruin your credit for 7 years.
Any money you put down would be gone, and you would have no car, and still owe money.