Legal Question in Consumer Law in Washington

Auto loan

My husband and I purchased a new car (2008) 2 days ago. Yesterday I found out I was pregnant and we decided I would immediately stop working because my job is dangerous to an unborn child. My husband alone cannot pay the car payment and afford all the bills. Also when we applied for the loan I told them I wanted to be with the same lender I had my previous car through and did not want our credit ran multiple times. The lender we wanted denied our loan, and so did 3 other lenders before they found one that would approve us (at the interest rate we agreed on). We went to the dealership and of course they wouldn't take back the car. We were under the impression we had 3 days to back out, they informed us we do not. What can I do to get out of this $60,000 loan?


Asked on 1/16/08, 8:57 pm

1 Answer from Attorneys
Elizabeth Powell ELizabeth Powell PS Inc

Re: Auto loan

There is no three day right of recission in a sale that happens at a store. There is a three day right of recission for in (your) home sales, but chances are you did not buy this car at your home.

You might want to see what you can do to re-sell the car, or alternatively consider a different job or alternatively selling something else or possibly a bankruptcy.

But you can't demand the dealer undo the sale once you left the lot with the car.

Sorry - I know this is not what you wanted to hear. I wish you all the best. Elizabeth Powell

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Answered on 1/16/08, 9:35 pm


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