Think I got a bad deal. Are there any options that I can take from here?
2006-10-23 06:09:48 · 14 answers · asked by Bernard B 2 in Cars & Transportation ➔ Buying & Selling
In the state of PA the 3 day rights of recision does NOT apply to a vehicle purchase, you went to dealership, you picked out a car, agreed to a price, signed the paperwork and left with a car.
Your options are
1.) Trade the vehicle
2.) Refinance through another company
or
3.) Deal with it.
Sorry
2006-10-23 11:17:59 · answer #1 · answered by msdagney 4 · 0⤊ 0⤋
Just refinance it through your bank or credit union. They'll pay off the other loan for you.
I do this any time the dealers are offering rebates to take the factory financing. The interest rates usually suck, to offset the loss on the rebate. Get a far better rate from my bank and hand over their check when I take delivery -- or have the bank pay that loan off when the first payment is due.
The dealers and manufacturers hate this, but it's all perfectly legal!
2006-10-23 14:10:46 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Your options can vary by state. For example in WA there is a lemon law that lasts 30 MONTHS if there is a chronic issue with the vehicle. I would GUESS that if you've had the NEW car less than 30 days you would have a good chance of returning it (so long as it's in the SAME condition as purchased).
You should check your State Government website. It should have the information you're seeking. Good Luck!
2006-10-23 13:13:16 · answer #3 · answered by Scotsman 5 · 0⤊ 1⤋
This depends upon what you mean by a 'bad deal'. Some states have a return policy for financed vehicles but this is generally based on the vehicle having mechanical difficulties and with in a very short period of time.
So.. if the car has major mechanical problems, then I suggest you contact the dealer and see what you can work out.
If your 'bad deal' concerns the price you paid for the car... unless it was misrepresented to you on the papers you signed... then your really out of luck.
Hope this helps.
2006-10-23 13:13:23 · answer #4 · answered by wrkey 5 · 0⤊ 1⤋
Briefly explain the deal and we'll let you know.
In NY there is no "cooling off" period unless the dealer delivered the car to your home.
In any event, even if your state does have a cooling off period, just get over it and pay for the car.
It's no body's fault but your own that you make uneducated decisions.
2006-10-23 15:39:20 · answer #5 · answered by jay 7 · 0⤊ 0⤋
refinance the loan and get a better deal if you can.
depends on how long it has been but sometimes there is a buyer's remorse law in your state and you can return the car and get out of the deal. you could always get an attorney and sue if you think they did something illegal.
2006-10-23 13:17:41 · answer #6 · answered by Sufi 7 · 0⤊ 1⤋
Trade for a better deal, search for someone to take over payments. Oh and once you sign a contract there are no legal limits on days to back out of it, at least not in Oklahoma. I work for an auto finance company.
2006-10-23 13:11:28 · answer #7 · answered by Cynthia S 4 · 0⤊ 1⤋
Some contracts allow you to have someone take over your payments but it will come back to you if you default. Some states have lemon laws if you are having a lot of mechanical problems. Some states have an attorney general that will investigate if you think you were ripped off. Otherwise, I know of nothing.
2006-10-23 13:11:53 · answer #8 · answered by Anonymous · 0⤊ 1⤋
Each state has different "oh crap I changed my mind" laws regarding loans. (these are also known as "opt-out" )
In my state, it's 72 hours. Some states have "2 business days" which is different from "48 hours".
So...I'm not sure when you bought your car, but to answer your question, you might be able to get out of it.
2006-10-23 13:12:40 · answer #9 · answered by Munya Says: DUH! 7 · 0⤊ 1⤋
You have three days to get out of a legal contract with the dealership (or whoever you bought the car from).
2006-10-23 13:11:05 · answer #10 · answered by No Nickname 2 · 0⤊ 1⤋