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Depends on the state you made the purchase in. In California, for instance, there is NO COOLING OFF period, meaning that once you sign the finance agreement, you are stuck. Unless there is fraud on the part of the origianator of the contract, you are likely under full recourse.
What else can I help you with?
Do you have to pay the finance company if the tow people sell your car?
Yes, the loan from your finance company is a legally binding contract between you and them. You are solely responsible for the fulfillment of that loan.
When can a finance company can legally repo a car?
In most cases immediatly upon default (non-payment) Read your finance contract, there should be a due on demand clause. Hope this helps.
Is it possible to finance a car at the age of 16?
No, it is generally not possible to finance a car at the age of 16 because most lenders require the borrower to be at least 18 years old to enter into a legally binding contract.
Can a car only get repossessed for no insurance?
Absolutely. When you purchase and finance a vehicle you sign a legally binding contract. Perhaps you should read what you sign. The contract states that you agree to carry insurance that includes comprehensive and collision with a maximum deductible of usually $500. If you let your insurance cancel then you have broken the contract and therefore the finance company can reposses the vehicle.
How do you legally get out of a car financing contract after 3 years if you signed up for a 5 year finance contract?
Borrow the money someplace else and pay the note off. As far as just walking away, that is not an option.
Can a minor finance a car?
In most cases, a minor cannot finance a car on their own because they are not legally able to enter into a contract. They would typically need a co-signer, such as a parent or guardian, to help them secure financing for a car.
Uninsured finance vehicle has been stolen Cancelled insurance because car was being repossessed by finance company?
You still have rights to recover the vehicle. The finance company may help you look for it if they're desperate enough to get it back. Even if your car was insured, you would legally have to payback the finance company for the car since you broke a binding finance contract.
What do you meant by contract?
A contract is a legally binding agreement.
what are Difference between a contract and an agreement?
a contract is LEGALLY BINDING, an agreement is not necessarily legally binding depending on the circumstances
Is the contract for a timeshare legally binding?
Yes, a contract for a timeshare is legally binding. However, the contract usually has an opt out period of at least ten days. The salesperson can also choose to let you out of the contract.
Can a 16 year old finance a car?
In most cases, a 16-year-old cannot finance a car on their own because they are not legally able to enter into a binding contract. They would typically need a co-signer, such as a parent or guardian, to secure a car loan.
What does a futures contract mean in finance?
A futures contract is a legally binding contract that agrees to buy or sell something at a previously agreed upon time with a previously agreed upon price. For example, a company might agree to purchase another company in July next year for 1 million dollars today.
