How can one get out of a contract to purchase a used car?

Question

Using current car as a trade in and with no actual deposit paid?

Living In Australia, signed contract to purchase, still have our car, the other car is being fitted with new tyres, other bits and pieces done on it,

no monies have changed hands yet, will all be done with the finance company, trade in car, pay out current loan on car with trade in and get new loan.

Answer 1

There is no 3 day right to cancel anywhere in the United States of America, MORONS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

California did pass a law that grants a 2 day right to cancel but it's only for used car sales and must be PURCHASED at time of sale.

MORONS!!!!!!!!!!!!!!!!!!

Answer 2

As long as you don't owe more than he car is worth, you can use the difference as your trade in. The used dealership payes off the loan and the takes the title for the car. If you have good credit, you might not need a down payment.

Answer 3

Fine out what state laws are>Is it a dealer> How far did the deal go did you take Poisson of the car & trade yours in > Some states have a 3 day take back>

Answer 4

you need to elaborate on your question. have you actually exchanged money and signed papers and handed over your current car? if no, then there is nothing holding you to buying the car. look over paperwork with a fine tooth comb. read the fine print. most places have a one day return policy with no questions asked to break the deal.

Answer 5

One of the essential ingrediants of a contract is the consideration [ something of value, like money] . If no consideration has exchanged hands and accepted, then there is no contract. Ask a lawyer, and he will tell you the same thing.

Answer 6

If you can prove fraud in small claims court the contract is broken, but don’t hold out much hope. Car dealers know how to write contracts.

Answer 7

I don't know about in AUS. But in our dealership in the states all you have to do is ask. If there is no money that changed hands. Most decent dealers will let you out of it...

Answer 8

What state are you in? In most states, I think you have a period or time ( two or three days??)in which to change your mind on the deal, but I'm not sure of the time frame. It's researchable on the net, I'd imagine. I'd do it tomorrow, if you are going to change your mind. Good luck!

Answer 9

in Australia there is a thing called the 'cooling off period' you can actually reneg on your purchase within 30 days if you are unsatisfied or do not want to continue with the transaction. if no money has been exchanged you should be ok.
just talk to them anyway, you should be able to do it

Answer 10

Most states have a 3-day cancellation period. You can walk away from a deal, but it still may cost you to walk away. Good luck.