Car dealership is trying make me sign new contract?

This seems to a some sort of common problem now, I am not sure why. I see a lot of yahoo posts on this same subject. They should not try to push you to a new contract. Can you imagine if after a week or two you went back to the dealer and said, I think 25,000 was too high a price, we need to re-write the contract at $24,000. They would look at you like you were insane. Your first contract may or may not have been approved, you just don't know. If like you think it was actually declined then they will call you back with some other other story, and then you say I only want to do one thing, reverse the transaction, I give you your car, you give me my car, we are all done. If it was approved, it could be that they made a contract error and are being required to pay some fee you should have been charged, or they do this on purpose as they will make a few hundred more dollars in loan origination commission from the other lender. If your contract was approved, then I think he will finish that rather than not get paid 24k by the lender. If you really don't want the deal, then your only option it to consult with an attorney. Write down a list of things that happened, photocopy all documents, meet with atty for 15 min, they will review and most likely contact the dealer and say due to your attempt to force another contract on the customer with a valid contract you have acted in bad faith and I want you to void the first contract. Dealer may say sorry, sue us. not voiding original contract. At that time not much else to do. a

Its too late! You bought the car and signed the contract. If the new contract had lower payments, how could the interest be higher for the same term length?

take the car back and get your old car and money back DO not sign a new contract.