Legal Question in Consumer Law in California

New car refund

i recently purchased a used truck from a dealer because my other truck was stolen back in march. The one that I just bought has not actually been financed yet because the one that was stolen hasnt been paid off yet and Im using the same finance company ue to my bad credit. Yesterday my old vehicle was found in perfect condition and my insurance will pay it off if i sign the release form. my question is, Id like to keep my old truck and return the new one and get my down payment back to get the other one out of storage. as long as my finance comp[any agrees to this the dealer has to refund my deposit dont they,since they cannot finance me with any other banks at all. i live in california, thanks for any input


Asked on 6/20/07, 10:33 pm

1 Answer from Attorneys
Jonathan Stein Law Offices of Jonathan G. Stein

Re: New car refund

The dealer does nto have to refund your deposit. There is no "cooling off" period in California. If they cannot finance it, then you may have to return the vehicle and pay for mileage. However, if you frustrate their ability to finance it, then you will have to come up with the money for the truck.

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Answered on 6/20/07, 10:55 pm


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