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If you sign loan papers from the dealer but do not make a downpayment nor obtain delivery of vehicle at time of signing can you back out of the deal?


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Wiki User
2015-07-15 19:49:43
2015-07-15 19:49:43

Yes. If you have not taken delivery of the vehicle, you can still back out of the deal.

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In Pennsylvania, a buyer's order only becomes consummated once the buyer has taken delivery of the vehicle. Not at the signing, but once the vehicle leaves the sellers property.

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If the car is financed through a bank, the bank is the only agency with authority to repossess the vehicle. The dealer, once paid by the bank, no longer has any claim to the vehicle.

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Having worked for many years as the director of the finance department in an auto dealership, I can tell you with certainty that signing must accompany "delivery". That is, if you both signed AND drove off the lot -- OR -- signed AND had it delivered to your home, then you own it -- you might as well start paying the bill. If all you did was sign but never took delivery, then the dealer cannot legally force you to take the contract or vehicle. If the dealer attempts to "get funded" for the contract (get the money from the bank who is financing your vehicle), then all you have to do is simply call the bank and tell them you never took delivery of the vehicle -- they will pull the funding immediately. Furthermore, if the dealer is requiring you to sign another contract, this is illegal. You can re-sign if you want, but the first contract is legally binding (assuming you also took delivery).

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You have to negotiate a new deal with the new car dealer as obviously the car you are trading in is not worth what it was before the damage. Contact the selling dealer.


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