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Ask Ely Your Own Question
Ely
Ely, Counselor at Law
Category: Consumer Protection Law
Satisfied Customers: 100573
Experience:  Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
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I recently signed papers loan on a used truck. its been

Customer Question

I recently signed papers for a loan on a used truck. its been five days since I signed.i have not gave them a down payment or signed over my title for the trade in. I have not picked up the new truck yet. I called and told them I no longer want the new used truck. Can I get out of it?
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Ely replied 1 year ago.
Hello and welcome to JustAnswer. Please note:
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On this website, I do not always get to give good news, and this is one of these times. I understand that hearing things less than optimal is not easy, and I empathize. Thanks in advance for not "shooting the messenger."
I am afraid that if you signed a sales contract, it is final at time of signing, and not at time of vehicle pick up or submission of the trade in (unless the contract states so otherwise).
As such, the contract is binding already, I am afraid. If one back out, they would technically be in a breach of contract.
Now, the dealer may agree to a cancellation, but they are likely going to want a fee to agree to this, if they even consider it. To them, it is all about the bot***** *****ne.
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I hope this helps and clarifies. Gentle Reminder: Use the SEND or REPLY button to keep chatting, or please rate when finished. You may always ask follow ups at no charge after rating. Kindly rate my answer as one of the top three faces/stars and then SUBMIT, as this is how I get credit for my time with you. Rating my answer the bottom two faces/stars or failing to submit the rating does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith.