Legal Question in Business Law in Tennessee

I live in Tennessee, and just 'bought' a car - but the financing has not been approved by a bank yet. The dealership is looking for a bank that will finance it. I am pretty sure that I do not have to sign a new contract if the rate is too high (once they do find a bank - IF they do) - but I am wondering if I can / should be looking for financing on my own in the meantime, and if so, where should I look? My credit is not great, but I have a decent job.

Plus, I am really getting tired of waiting and wish I had not signed the "conditional delivery agreement," so I could be looking at other dealerships that might not take so long! I do not want to end up back at square one after the fifteen business days, and I don't feel comfortable driving the car I don't really own in the meantime. Please advise!!!


Asked on 6/15/10, 11:39 am

1 Answer from Attorneys
Kevin B. Murphy Franchise Foundations, APC

Any attorney will say your conditional delivery agreement needs to be examined to see your cancellation options. Consult with an attorney in your area for specific advice.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

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Answered on 6/15/10, 2:45 pm


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