Last night I put a down payment on a certified used pontiac. However, the deal is not complete since I need to get my own insurance and they need to shop around for a bank to give me a loan. Looking at my finances though, I dont't think I can afford this car and want to cancel the deal. Can I do this?
2006-10-05 02:19:47 · 8 answers · asked by LG 1 in Cars & Transportation ➔ Buying & Selling
Move quickly! There is generally a 72-hour period in which you can get out of any money deal, based on the idea that you need that long to think it over. This was enacted many years ago after people complained endlessly that they had been suckered into a deal by a smooth-talking salesman. So call at once and tell them you want to cancel, and follow it up in writing TODAY!
2006-10-05 02:28:43 · answer #1 · answered by auntb93again 7 · 1⤊ 0⤋
Not to be trite... but ask them! Each dealership has different policies on what they do in situations such as this. They might let you have "buyers remorse" on the deal. How much money are we talking? How did you pay them? If it is as simple as you writing them a check, you can, if worst comes to worst stop payment....
2006-10-05 09:28:27 · answer #2 · answered by akaivyleaf 2 · 0⤊ 0⤋
It sounds like you have not signed a legally binding contract to purchase the car. In this case, the car is still in the dealership's name and not yours. They have to refund your money since you have not purchased the vehicle.
2006-10-05 10:41:29 · answer #3 · answered by Stumpy 4 · 0⤊ 0⤋
Most dealers will return your down payment. In Massachusetts the dealer can't keep the deposit.
2006-10-05 09:43:33 · answer #4 · answered by R1volta 6 · 0⤊ 0⤋
Look over any paperwork you may have signed (or not signed). If it's a legit dealership they should be up front with you about everything.
2006-10-05 09:24:00 · answer #5 · answered by noonee333 4 · 0⤊ 0⤋
yes you can
You have 72 hours to negate any contract like that... even with buying a house.... there is 72 hours to change your mind... it's the law!
2006-10-05 09:27:41 · answer #6 · answered by Paul A 2 · 0⤊ 0⤋
sure ..first off tell them you don,t like the interest rate there giving you
2006-10-08 22:56:17 · answer #7 · answered by RC Hudson 2 · 0⤊ 0⤋
why would you do something like this without first knowing your price range? thats stupid!!
2006-10-05 09:23:57 · answer #8 · answered by doogie494 2 · 0⤊ 0⤋