Consumer Protection Law
Consumer Protection Law Questions? Ask a Lawyer Now.
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As you likely know, the lender is under no obligation to take the car back, cancel the contract and let you out of the deal. However, if you believe that you were a victim of fraud or if you believe the seller changed or concealed terms of the contract, you could have a claim that the contract was obtained by fraud.
If that is not the case, your only real option would be to walk away and see where things go......but the seller could sue you for the deficiency amount incurred after the vehicle is re-taken and re-sold. The seller could sue you for the loss it incurs. But, if you have a claim or potential claim for a fraudulent contract, the seller may pass on pressing you.