I found another car that was a heck of a lot less expensive than the one I originally wanted. Can I tell the dealer to keep his car or am I obligated to abide by the contract?
2007-05-28 18:43:32 · 9 answers · asked by kel124 2 in Cars & Transportation ➔ Buying & Selling
If you signed all the actual contracts, then it doesn't matter if you took the car home or not. It's yours. There is no 3 day right to rescind on automobile purchases either, unless you were solicited in your home and bought it in your living room.
The only way to get out of the car is to talk to the dealership. You can try to tell them that your situation has changed, or maybe something major happened in your life. In addition, I would have someone look at your paperwork to see if you signed the actual contracts, or simply a buyers order. If that's the case, you might be able to back out, however any deposit money is the dealership's discretion. Good luck!
2007-06-05 14:36:18 · answer #1 · answered by The Auto Evaluator™ 7 · 5⤊ 0⤋
The truth is that you take OWNERSHIP when you sign the paperwork (all of it). You take POSSESSION when you drive the vehicle off the dealer's lot after having signed the paperwork-not before.
All car deals can be rescinded-the determining factor is whether or not the dealer WILL void the deal-the dealer does not have to.
However, once you take possession and drive the vehicle on the street other issues come in to play, that is, the vehicle having been operated on public streets becomes an issue with a State Motor Vehicle Department (the vehicle is legally now considered used in most states and one would have an extremely difficult time returning the vehicle to the dealer and receiving a complete unwind of the paperwork).
Even if the vehicle is not removed from the lot by the buyer the buyer is still the owner and bound by all written and signed legal documents.
Proveable fraud on the part of the dealership people or on the part of the customer may be cause for recission (usually is), or a sudden change in the buyer's ability to pay for the vehicle may also be a consideration for the dealer to resind the deal.
The truth is you entered into a legal contractural agreement and are obligated to stand by it. The key to all of this is a legitimate situation on the part of the customer such that the dealer will have mercy and unwind the deal.
The 3 day rescission period DOES NOT apply to vehicles purchased at a dealership or used car lot.
Hope that helps, Chuck
www.thebestdealofyourlife.com
2007-06-02 15:10:00 · answer #2 · answered by Anonymous · 1⤊ 1⤋
You bought NOTHING until you drive it off the lot. A signed contract and maybe a dollar will buy that dealer a cup of coffee. If you signed loan papers be sure to notify the lender because some dealers have been known to wash out a deal and submit signed papers to the bank knowing that the deal is not a deal. That gets troublesome and pesky, but only pesky. No Big Deal.
2007-06-03 14:57:34 · answer #3 · answered by Dogbettor 5 · 0⤊ 1⤋
What did you sign? A buyer's order, a retail installment agreement, title paperwork? It makes a difference. Did you leave a deposit? Was it refundable. Why didn't you take delivery? Was the dealer adding equipment that you wanted? Was he trying to get you financed? The answer to your question depends on a lot of factors.
2007-06-04 15:36:10 · answer #4 · answered by SPATTMAN 3 · 0⤊ 0⤋
NO! Unless what you signed was a financial contract, you are not obligated to purchase. Once the loan contract is signed, or the cash exchanges hands you are fine!!
S. Laureys
2007-06-04 16:41:17 · answer #5 · answered by stevenmlaureys 2 · 0⤊ 0⤋
If you did not take physical delivery of the vehicle by driving it off of the lot, you can cancel the transaction.
However the dealer is not obligated refund deposits or payments made to them by you if you decide to back out of the deal.
2007-05-29 08:27:30 · answer #6 · answered by Vicky 7 · 2⤊ 1⤋
Some states have a "buyer's remorse" law. Check to see if yours does and what the time limit is to change your mind. Even if you're within the specified time period, if there is such a law there, be prepared to go through a LOT of crap from the dealer.
2007-05-29 01:50:11 · answer #7 · answered by Trade Nagy 2 · 0⤊ 1⤋
IN most cases if it ha been less than three days. If you are under eighteen you are not old enougt to be obligated by contract and ca really just so I want my money back anytime.
2007-05-29 01:50:08 · answer #8 · answered by The Answer Guy 4 · 0⤊ 1⤋
That is at the dealers descretion, if you keep the cntract or not, you signed your name on the line and that is legal and binding.
2007-06-03 20:26:40 · answer #9 · answered by Anonymous · 1⤊ 0⤋