Legal Question in Consumer Law in New Jersey

cancelling a contract

took delivery of a vehicle 5 days ago did not sign financial contract as they were looking for a better interest rate. in the interim i found better financing and a better vehicle certified preowned can i return the first vehicle without obligation

Asked on 3/09/05, 7:52 pm

2 Answers from Attorneys

John Corbett Corbett Law Firm LLC

Re: cancelling a contract

The sale and the financing for the sale are generally separate matters. Look for a financing contingency clause in the contract of sale. That will tell you a lot.

I would be surprised if you could return the car. It sounds as if there is a completed sale and only the financing remains as an open issue. That could leave you with an obligation and no means to finance it.

If you have any doubt, you should collect all the paperwork and get a lawyer to look at it.

Read more
Answered on 3/11/05, 11:05 am
Adam L. Rothenberg Levinson Axelrod, P.C.

Re: cancelling a contract

This will largely depend on the nature of the contract; what it says. If there is a contingencty or clause. However, if the deal is consumated, then it is unlikely. You may want to contactthe dealership first, but they are not going to want to take back your "used" vehicle. You should seek an attorney to review this immediately, however it is likely to be money that is not well spent unless there is a specific clause allowing for this, or the deal has not been consumated, which is unlikely since you have the car.

Read more
Answered on 3/10/05, 10:19 am

Related Questions & Answers

More Consumer Law questions and answers in New Jersey