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Yes. My fiancee and I just did that (California). We did not take physical possession of the car, and nor did we take "constructive possession." I.e., taking the keys to the car and leaving the car on the lot.

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โˆ™ 2008-11-28 18:53:27
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Q: Can you rescind an agreement to buy a new car if you have not taken possession of it?
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