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Roger, Attorney
Category: Legal
Satisfied Customers: 30913
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I live in NJ and I recently purchased/leased a new vehicle.

Resolved Question:

I live in NJ and I recently purchased/leased a new vehicle. I signed all documents except for the trade-in paperwork. The dealership said I will sign that paperwork when the vehicle I leased arrives. I have also given a deposit, but due to unseen circumstances I no longer can purchase/lease the vehicle. I called the dealership today to explain my situation and I was told that I need to speak to the GM tomorrow. I just want to know what are my liabilities? Is it too late for me to cancel the deal? Remember, I have not taken delivery. Does that matter? I just want to be prepared before I speak with the GM. Any points/recommendations would be greatly appreciated.

Thank you.
Submitted: 5 years ago.
Category: Legal
Expert:  Roger replied 5 years ago.

Hi - my name is XXXXX XXXXX I'm a litigation attorney here to assist you.


If you signed the lease agreement, you're 100% committed even if the trade in paperwork hasn't been completed. As long as the lease contract has been signed, you're obligated.


If you break the lease, the dealer has a right to sue you for the breach and seek the profits it would have made from the lase.

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