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CalAttorney2
CalAttorney2, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 10244
Experience:  I am a civil litigation attorney representing individuals and businesses.
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We purchased a car last week. The down payment of $8.000 was

Customer Question

We purchased a car last week. The down payment of $8.000 was returned NSF from our bank while we were switching the money over. We now have decided we do not want the car and cannot afford to pay the down payment. What can we do?
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  CalAttorney2 replied 1 year ago.

I am sorry to learn about this situation.

Unfortunately you have already signed the purchase agreement to buy the vehicle, and the seller has a right to hold you to the contract (if you fail to tender the down payment, and make the monthly payments, they can sue you for breach of contract).

You can try negotiating a release from the sales contract with the seller, but they have no obligation to do so.

You will want to deal with the NSF situation with your check as quickly as possible (hopefully they will only charge you a small fee for processing the check (your contract should spell out exactly what happens with an NSF)).