Can I go back on my car purchase if I signed the papers and made a down payment but didn’t take the car off the lot?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Can I go back on my car purchase if I signed the papers and made a down payment but didn’t take the car off the lot?
I just did this yesterday on Sunday. What would happen if I called my bank and stopped the down payment? I can’t check the contracts signed because those too were left at the dealership?
Asked on March 26, 2012 under General Practice, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Once you sign the contract, you are obligated to it--it is to late to go back on the car payment, even if you never took the car off the lot. If you try to stop payment, the dealership will be able to sue you to enforce the contract--i.e. to get the money--and possibly for additional damages or compensation, too. (E.g. collection or legal costs.) You could only rescind or terminate the contract without penalty if:
1) The dealership lied to you in a material, or significant, way to get you to enter into the transaction--i.e. they committed fraud; or
2) The dealership has breached its obligations under the contact in some significant way--for example, it failed to deliver you possession of or title to the car.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.