Let me repeat this. A car dealer cannot force you to sign a second contract. If the car dealer cancels the purchase contract with 10 days, you are obligated to return the car, and the car dealer must give you back any down payment or trade-in that you gave with the purchase. The car dealer cannot cancel the purchase contract after the 10-day.
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Can I back off from a car deal that I signed up I signed up a a deal for a new car. They didn’t have the right color and I put a 1000 $ deposit and a signed up a contract so the sales agent can start searching for the requested color.
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Even if you sign a purchase agreement and need time to apply for the loan, the dealer can’t hold you to the deposit or force you to buy the vehicle. Why Pay a Deposit Anyway? If the dealer doesn’t have the car you want in stock, he’ll commonly try to work out a swap with another dealer and ask you for a deposit.
It sounds like you’ve bought a car. dealer contracts are binding, and are subject only to you getting financing. Since you’ve been approved, you have financing. It is a common misconception that you have 2-3 days to change your mind after you sign a contact, and sometimes dealerships encourage this confusion. However, it’s just not true.
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So, either you’ll pay for the overmileage at the end of your leasing contract, or you’ll pay for it when you try to sell/trade in your car because it’s valued at less. Basically. Don’t sign anything you’re not sure about. Dealers are required to go through leasing contracts with you so don’t be afraid to ask questions and take your time. The ball is in your court. Check out our exclusive lease deals here.
Refinance Mortgage With Late Payments The mortgage company reported my account as late for October, November and December. I did not realize that this would happen. Is this what is generally done? I am now getting a divorce and would like to purchase the house by refinancing the mortgage, but with these late payments I will probably not be able to.
My car just arrived, after months of waiting, and now the dealer says he will not honor our contract. He is demanding $3k above the MSRP we agreed upon, or will else he will cancel the contract (and likely sell the vehicle for $5k-10k above MSRP). The dealer claims he can just back out of the deal, and all he has to do is give me my deposit back.