if i just financed a vehicle that turned out to be a lemon can i return it and terminate the contract?

Answer 1

How is it a lemon?

BTW.... the three day thing is a myth. That only applies if someone solicits a sale from you OFF of their property. If you go to a car dealership(in most states), once you sign the contract it's yours. There is no 3 day return policy on cars when you go to them in most states.

Answer 2

Most of the time you have to have tried to fix a major problem several times and have had the vehicle out of service for a significant time within the first year for it to be considered a lemon and protected under various lemon law statutes.

You say you "just financed" it and you want to "terminate the contract". Itsounds to me like you have some buyers remorse or you bought too much car. In that case, let the buyer beware.

Answer 3

Lemon law can be claimed in some states. You must document all trips to the repair shop if you have a great number of repairs in a short amount of time you can present your claim to the states attorneys office in the county court house where you live, they will determine if you have a valid claim and may process it for you. If you just return the auto to the dealer it's called a voluntary repossession, they will re-sale the vehicle and bill you for the difference owed on the original amount of sale. In most cases this goes on your credit report with all three reporting agencies and will remain active for seven years, I advise against it.

Answer 4

Lemon Laws by State:
http://www.lemonlawamerica.com/state_laws/index.htm

Answer 5

Within 3 days you can return any financed vehicle.

Answer 6

You've really got to read up on your state's lemon laws. They are all different.

There are many clauses and hoops to be jumped through. Their are attorneys that deal with lemon law cars. You might want to contact one to see what your rights are.

Answer 7

Is this a brand new vehicle? If not, Lemon Law does not apply.

Answer 8

Seek legal remdy for the lemon, but if you refuse to pay what the contracts says, you credit will suffer greatly.

Answer 9

no, your pretty much stuck with it, I would consider trading it in on something else, you might take a little hit doing this but maybe not as much a hit as if you keep the lemon.

Answer 10

if its a used vehicle you might be stuck with it,a new one is a different story,but used ones are sold as is,unless other wise stated in any kind of a contract signed by you and the seller,so you can either trade it in or keep it,and fix it,but if its used ,you might have to keep it,good luck hope this helps.