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From thread http://www.mycarforum.com/forum/SBW474X_VT...349102/#2349102 Just helping a newbie post his question Xbaobei asked. Recently i have signed a contract to buy a honda, and i will be trading in my car, and the price they offered for the trade in is lower than the deregistration amount, which i understand from my friend, it shouldnt be. Contract has already been signed. Few days later, i was flipping through the paper, and saw that there is any dealer who is offering a much lower price, and i contacted them, and the trade in my price for my current car was much more higher. I intend to cancel my contract with the first dealer which i signed, but they are charging me a penalty for that. Loan was not disperse to them yet, and they dont allow me to cancel it. They are saying that either i pay the penalty of 5k or its a court case. What you guys think i should do? Should i pay? The loan interest that the first dealer has secure for me is so much higher than the second dealer. Therefore i has decided to purchase my car from the second dealer. but what should i do? fight laywer case? or just bit my mouth and pay them the 5k? Pls give me your advise, i am at my end... dunno what to do anymore.