How MANY DAYS TO CANCEL A CONTRACT ON A NEW CAR IN TEXAS?

Question

I buy a bright new mustang 2008 but i want o cancel my contract , payments to high , HOW MANY DAYS DO IHAVE/ ANYONE? BEFORE RUIN MY CREDIT

Answer 1

If you signed the papers and drove it off the lot, you own it.

If you try and return it and just drop it off, the dealer will let the bank repo it, as they already made their money and reported it to Ford as sold. You really should have thought about the payments before you took your new car home.

Also remember that if the bank takes it and auctions the vehicle off, you will still owe the bank the balance between the auction amount they get and the total amount of the loan, so the bottom line is you'll have no car, a repo on your credit, and get sued for the remaining money.

Better just work harder to make the payment.

Answer 2

You have exactly ZERO (0) days to cancel a car contract. There is no "cooling off period", "3-day right to cancel" or any other way to cancel a car contract once the paperwork has been signed. Some people may tell you different, but they are wrong. If you've taken delivery, the car has already depreciated in value by several thousand dollars.

Now, you should have known the payments were too high before you sealed the deal. Buying a car shouldn't be an impulse buy. It's assumed serious thought went into your decision to purchase an item that you agreed to pay for for the next several years.

Why don't you get a second job to help you make your payments? You've got a new car!

Answer 3

It is not like the 3 day period you have for a door to door salesman. You were the one who went into the dealership to make a purchase. You are having what is called "buyer's remorse". It happens a lot on big ticket items like cars, RV's, boats etc. The only option you may have is to refinance the car after a while. You will need to make some payments on it before that can happen. The person who suggested you just take it back is wrong. You could try that, but your credit would be destroyed and there is no legal reason they would be required to let you out of the contract (unless you are under age or not mentally competent). Just a tip...Any time you are thinking about making a purchase like this....Take some time before you actually sign the contract and think about the deal. (Have a cup of coffee, leave the lot for a little while, whatever it takes for you to feel comfortable and away from any pressure) Are you satisfied with all aspects like payments, what you got for a trade in, what you are actually paying for the item etc.? The dealer may want you to sign immediately, but they are not the one's making the payments. If your gut feeling says it's a bad deal for ANY reason....WALK AWAY.

Answer 4

A vehicle can't be categorized as a lemon in purely 3 days. maximum dealerships will artwork with you provided the vehicle hasn't been abused, however the regulation is in there courtroom. The lemon regulation is going against the producer and is while the vehicle has been interior the provider branch various situations for unresolved themes. If something is going incorrect and is repaired, and then something else is going incorrect and is repaired, that's no longer a lemon. A lemon could be while the comparable situation keeps arrising and on no account looks to get repaired inspite of repeated tries to diagnose and restoration.

Answer 5

Salesman told me no 6 cylinders made for the model any longer, not true.
So I am stuck with a car for 10+yrs over a statement that wasn't true.
Brand new XLE Camry loaded.
4 Banger.

Answer 6

There is no buyer's remorse law when it comes to car purchases. Zero. Zip. Zilch. Texas has a 3 day window for door-to-door sales over $25, but it doesn't apply to automobiles.

http://www.news8austin.com/content/living/common_law/?ArID=162070&SecID=463

Answer 7

Try 2. Some states give you 7. The trick is to call the creditor and tell them you aren't gonna pay. They'll freak out naturally, but tell them you are returning the car & to deal with it.

Answer 8

ZERO