Legal Question in Consumer Law in Florida

cars purchase

I just purchase an used car, when I got home with the car,I find that the interest was to high.so i called dealer to add a co-signer to my contract but, they told me that I couldn't do that . but I understood that I had three day grace period.what can I do


Asked on 10/04/07, 5:42 pm

3 Answers from Attorneys

Alan Wagner Wagner McLaughlin, P.A.

Re: cars purchase

If the interest is too high, why would a cosigner help anything? If the cosigner wants to help make payments, they can do that without being on the note

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Answered on 10/04/07, 5:56 pm
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: cars purchase

3 day grace period for what?

what made you think that?

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Answered on 10/04/07, 6:06 pm
Scott R. Jay Law Offices of Scott R. Jay

Re: cars purchase

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

Grace periods are for the repayment of a loan. I believe what you meant to say is that you thought there was a 3 Day Right of Recission in case you changed your mind but there is no such recission period. Once you buy a car, it is yours. If someone is going to help you pay the loan, they can do that voluntarily without having their name on the papers.

Scott R. Jay, Esq.

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Answered on 10/04/07, 11:12 pm


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