i put a deposit on a new travel trailer 3 days ago. ive decided not to purchase it. its still on the lot and never been on the road. can i get out of the contract
State/Country relating to Question: Florida
nothing, im suppose to pick it up today
Thank you for using JustAnswer. I am researching your issue and will respond shortly.
Just to be clear, did you actually sign a contract to purchase the trailer?
And if so, did you do that at the dealership?
i signed a contract at the dealership and since it was over the weekend they were checking with their banks to see what the best interest rate i can get. so i havent signed anything for a bank Loan.
I see that you may have prematurely clicked "accept", but we can continue the question here. IF you have signed a contract for the purchase of the trailer, there is no "right of rescission" (aka buyers remorse law). You can be held to that contract, even if you change your mind a second after you sign it. The right of rescission applies only in certain instances, and none of those instances would be where you are purchasing the vehicle or good at the dealership. But that being said, check your contract. It might be that you signed an "intent" to purchase, but since you don't have the rate down, you can back out at that time. That is, the bank can come back and tell you a certain interest rate, and you can claim that you didn't know that it would be that high, and as such, there is not a "meeting of the minds" sufficient for a contract. But to be honest, in most of those situations, the purchase price is already set and part of the contract, and the financing is how you're going to cover that purchase price. The best thing that you can do is tell the dealership that you want to cancel the contract (maybe waiting until after you hear the rate) and hope that they do so. If there are any cancellation rights in the contract (unlikely, but possible) you can avail yourself of that. But legally speaking, once you sign a contract, you can be held to it, unless you have a statutory or contractual right to cancel, and in this case there is no statutory right, and you'd have to actually check your contract to see if there is a contractual right. I know this is probably not what you wanted to hear, but it's the law. I hope that clears things up anyway. If you have any other questions, please let me know. Thank you, and again, good luck to you!
Licensed Texas General Practice Attorney
yes i signed a contrat
I see that you may have prematurely clicked "accept". Were you able to see my answer to your question?
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