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Barrister
Barrister, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 35387
Experience:  Attorney,16 years experience in consumer protection areas
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I purchased a used vehicle on Saturday. In reading over

Customer Question

I purchased a used vehicle on Saturday. In reading over finance contract yesterday, I am totally dissatisfied with it all. What can I do today to cancel (Monday)
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very 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 or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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Are you asking if there is any way to back out of the contract?

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Did you sign a written contract to purchase the vehicle identified by a specific VIN?

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Do you have possession of the vehicle?

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Have you paid any money?

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Is there anything in the contract about a "right to cancel"?

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thanks

Barrister

Customer: replied 1 year ago.
I have the vehicle (signed contract Saturday, drove home in the purchased vehicle)
I traded my 2002 vehicle ($2500) as down payment.
Contract states VIN number (for a used 2014 vehicle - same brand).
Contract states "No Cooling Off Period" " Can only cancel if seller agrees or for legal cause. You cannot cancel because you change your mind."
Contract, with financing, more than doubles the cost of the vehicle. which is already above book. I feel that it was fast- talking-just-sign-here-and-here-and-here misrepresentation.
Expert:  Barrister replied 1 year ago.

Ok, I really hate to tell you this, but in a used car purchase, there is no right of rescission unless it specifically states so in the contract. And here it even goes further and specifically states there is no right of rescission (i.e. cooling off period).

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The fact that you were pressured into entering a deal that might not have been very good wouldn't allow you to get out of it. That is what car dealers do....try to pressure people into paying too much for a vehicle. Although unethical, it is not illegal for them to do that. They want the highest price, the buyer wants the lowest, and it is the buyer's job to hold out for their price or be willing to walk away. If the dealer talks them into paying too much, the dealer is the winner in the fight, but that doesn't give the buyer the legal right to cancel the deal..

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It is up to the buyer to slow things down and question every number and make sure that they add up to a price that they are able to afford that is a fair price for the vehicle, regardless of how fast the salesman wants to push the deal through.

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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