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If you sign a contract and leave the car on the lot but later find out that you can't afford it can you cancel?
Wiki User
Answered 2015-07-16 19:30:41
Most states have a three-day grace period after signing a contract for a car purchase, mortgage, etc.
That means you can change your mind within three days and get out of the contract.
After that, or if you don't live in such a state, you're stuck.
Most state do not on vehicle purchases. As far as I know California is the only state that has that law and it just went into effect in 2005.
In Texas, the law says once you sign the contract and take posession of hthe car, you are done unless it is a lemon. If you do not sign off on the car and leave it at the dealership, you foil the completion of the contract cycle in taking financing and registration. That is straight from the DOTx rules.
The car that my dad sign for the money was going to be out of pocket. There was no finance, because my dad would not qualify for loans. The car dealership was aware of my dads situation. The car was never purchased yet, no money has been exchanged. In the stat of California is he still liable?
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