Legal Question in Consumer Law in Florida

new car purchased

co-signed as the primary on a new car at toyota,dealers bank refused to finance,now i realized i made mistake the second party is backing out and im going to held responsible , am i obligated to resign the new contract or can i just return the car...help


Asked on 1/03/07, 8:22 pm

1 Answer from Attorneys

Alan Wagner Wagner, McLaughlin & Whittemore P.A.

Re: new car purchased

The answer to your question can be found in the contract you signed. Was it contingent upon financing and what does it say happens if financing is not approved. You must always read contracts carefully -- I guess you know this at this point -- but if you signed a contract to buy the car whether or not financing was approved, then you are probably stuck with the deal. There should be no need to sign another contract. If they are asking you to sign another contract, then LOOK CAREFULLY AT THE CONTRACT that you did sign. If they want a different contract, there is a reason -- most probably that you have an "out" under the cintract that you did sign when financing was not approved. If you have any other questions, just let me know.

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Answered on 1/03/07, 9:56 pm


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