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Barrister
Barrister, Attorney
Category: Business Law
Satisfied Customers: 33802
Experience:  15 years practicing attorney, JD, BA, MBA
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I recently signed a binding cash contract to purchase a car

Customer Question

Hi, I recently signed a binding cash contract to purchase a car at a dealership, over the weekend I have changed my mind and no longer want to purchase the car. Am I stuck?
Submitted: 11 months ago.
Category: Business Law
Expert:  Barrister replied 11 months ago.

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes and ordinances and type out an answer or reply, but rest assured, I am working on your question.

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Unfortunately once the buyer signs a purchase contract for a vehicle purchase, there is no "right of rescission" unless it is specifically stated in the contract.

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So unless there is something that gives you the right to cancel in the contract, no such right exists by default under federal or state law.

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I am very sorry that I don’t have better news, but please understand that I do have an ethical and professional obligation to provide customers with legally correct answers based on my knowledge and experience, even when I know the answer doesn’t make the customer happy...

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thanks

Barrister

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