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If you still have the title to the trade, you may not have effectively given a down payment. By turning over the title you have given down payment and that establishes the rest of the contract. For a contract to be enforceable you have to sign the papers, take possession when appropriate and pay some amount of money. Signing the loan papers MIGHT be considered paying for the vehicle, depending on the laws in your state. If you know the lending institution you can decline up to the point when the funds are disbursed.

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โˆ™ 2006-03-28 15:28:59
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Q: Are you bound to purchase a car in Idaho if you've signed the paperwork for a it but you haven't taken delivery or paid a down payment and the trade-in is in your possession?
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