I bought a car for April 2008 delivery, and now have changed my mind due to financial reasons.
2007-11-28 02:37:35 · 19 answers · asked by peter_factor 1 in Cars & Transportation ➔ Buying & Selling
Since you have not taken physical delivery of the vehicle, you can back out of the contract. To clarify, there is NO 3 day right to rescind on vehicle purchases once delivered and the 48 hour rule doesn't apply either.
Did you have the dealership factory order you a vehicle? If so, they can still cancel the order so there would be no financial loss for them. If you can give a little more information as to why it's an April 2008 delivery rather than this month, we can help give a little more specific answer. Good luck and I hope this helps to clarify.
2007-11-28 02:57:24 · answer #1 · answered by The Auto Evaluator™ 7 · 6⤊ 1⤋
What type of car did you order that is going to take six months to get? If there is that large a backlog for orders, the dealer should be more than willing to cancel the sale!
In the USA a car is not sold until the buyer takes physical delivery of the vehicle. If you special order a vehicle the dealer may be allowed to keep your deposit until the vehicle is sold to another buyer, but that would usually only happen if the car you ordered was very strange (missing normal options or a custom color).
Contact the dealer and see what they say! I would bet that they will cancel the sale for you!
2007-11-28 10:59:13 · answer #2 · answered by fire4511 7 · 3⤊ 1⤋
It depends on what you signed. Now would be the time to cancel, since you have not taken delivery yet. Once you've taken delivery, it is too late.
There is no such thing as a "3-day remorse" right to cancel an auto contract. The 3-day right of rescission only applies to in-home purchases.
2007-11-28 11:16:29 · answer #3 · answered by Scott H 7 · 1⤊ 1⤋
Nope, sorry. Whatever you and the the seller agreed to within the confides of the agreement, is a legal, and binding document.
If you cannot for finical reasons, abide by that contract, you are on the hook. You are open to a penalty ($$$) of sorts, where the seller, to recoup any loses can take you to court. Lets say you brought the car new for $20,000 today. Next week, you can't handle the payments. It is now considered a "used car," and the blue book value is $18,000. The seller, can sue you for the $2000 value. That is providing the seller proves he/she made reasonable attempts to sell it for the fair market value (price). Not fair??? Imagine if you were selling the car, and someone backed out. Now you suffer a loss. Sorry to hear that things didn't work out for you. I know you're a honest person who fell upon hard times. Best of luck.
2007-11-28 10:46:28 · answer #4 · answered by Clipper 6 · 0⤊ 3⤋
I'm sure the dealer can resell that car. Read your contract and see if there are any penalties for canceling the order. It's not even going to be delivered for another 5 months.
The bottom line is unless you've already paid for the car in full, they can not force you to buy it when it's delivered. They can keep your deposit money and probably will, but they can't make you buy it.
2007-11-28 11:52:18 · answer #5 · answered by mccoyblues 7 · 0⤊ 3⤋
They may charge you a fee to cancel if car hasn't been manufactured yet. If it has then you are stuck. There is no 3 day cooling off period when you buy a car. Talk with the dealer. Has financing been approved? If not this may be another way out. Good luck!
2007-11-28 13:26:39 · answer #6 · answered by stingray41042 3 · 0⤊ 3⤋
Tell the dealership AND the loan company. They will be miffed but it's better you tell them now when maybe they can cancel the order...otherwise they will have to accept it and sell it (which should not be a problem for them other than mere irritation). I don't know if they will try to make you pay a fee for cancellation. Read the fine print in your contract. If they say you have to pay a fee, and that fee is more than the cost of an attorney, your time in court and your filing fee and their winning the case and your paying their attorney, then go ahead and accept that. (I guess in that case it would be better if you pay the fee....and it's probably under $1,000 and if you choose to fight it in small claims court then you could if you think you can sway the judge to your way of thinking...the dealership "did" take the time and work with you so you probably do owe them something for their time).
I suggest you cancel it by letter, maybe even certified mail with return receipt so that you can prove (if you have to in court) that you notified them of your decision.
2007-11-28 10:44:34 · answer #7 · answered by sophieb 7 · 0⤊ 4⤋
Think you got a problem The circumstances in which a contract can be canceled are usually stipulated in the contract itself and i doubt that it will make provision for your financial "problems" Good luck any case
2007-11-28 10:43:20 · answer #8 · answered by Jaco W 3 · 0⤊ 2⤋
When signing a contract, make sure you understand the contract BEFORE you sign it, and NEVER assume that you will be able to cancel it.
Because when the buyer's signature is on a written document setting forth all the terms of the deal, the buyer knows he or she is locked into the deal. He or she can't argue with a signature on a document where the terms of the contract are all set forth in black and white.
This stops the buyer from even trying to lie their way out of this agreement.
But if it were you I would go in person and discuss your situation with the dealer and see just what they can do for you.
Good Luck
2007-11-28 10:55:20 · answer #9 · answered by Anonymous · 0⤊ 6⤋
Sounds to me like you ordered a car to be built. In that case, in the U.S. you may cancel the order and get your deposit back.
2007-11-28 11:58:14 · answer #10 · answered by jay 7 · 3⤊ 1⤋