Legal Question in Consumer Law in New Mexico

I purchased a new Motorcycle on Saturday, and all contracts were signed, however I never too possession/ownership of the motorcycle, after a cooling off period I realiazed that I could not afford the monthly payments, can I back out of the Sale?


Asked on 7/05/10, 4:57 pm

1 Answer from Attorneys
Charles Aspinwall Charles S. Aspinwall, J.D., LLC

If the purchase contract was entered into in New Mexico, you are stuck. There is no "cooling off" period in NM. Your best bet is to talk to the dealer candidly, tell him your problem, and see if there is something to be done to settle the matter. It might cost you some money, but if the dealer can re-sell the item you may be able to get out of the deal for a reasonable sum. Next time remember this time, and take 24 hours to think the deal over before you sign.

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Answered on 7/06/10, 1:55 pm


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