Legal Question in Consumer Law in North Carolina
I signed a vehicle contract 3 hours ago,i have not taken delivery or paid the required down payment yet but now i have changed my mind about wanting the vehicle can i get out of this contract
Asked on 4/01/11, 6:39 pm
1 Answer from Attorneys
No. You signed for it and you bought it, generally. There is no 3-day right of rescission or cooling off period.
That said, read the contract. Some contracts do provide for a right of return, no questions asked (I know Car Max and Saturn had such a policy).
The other exception is if the dealer spotted you a car and you applied for financing. If the bank denies you a loan, then you usually have to give the car back.
Rule of thumb when buying a car: (1) do your homework before you buy; and (2) get any financing arranged for in advance.
Answered on 4/07/11, 9:16 am
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