If you signed a purchase contract stating that the buyer would finance can you cancel the contract if you can't get a loan?
It depends upon the specific terms and conditions of the contract. If the contract simply states it is the buyer's obligation to secure financing, then you can NOT cancel the contract. If the contract states that the agreement is conditional upon the buyer's ability to secure a loan, then you CAN cancel the contract.
What if vehicle owner allows insurance policy to cancel and purchases new policy without lien holder listed?
When you purchase a vehicle and fiancé it you sign a contract stating that you will carry certain insurance coverages and provide the finance company with the proper notification of such coverage. If you let your policy cancel you have violated the contract. If you do not list them as lienholder on your insurance policy you have also violated the contract. If you do not fix this situation when you finance company send you letters…
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.
There is no 3 day to cancel a new car purchase contract. The only time you have 3 days if the dealer came to your house or place of business and Solicit you. There is no 3 day to cancel a new car purchase contract. The only time you have 3 days if the dealer came to your house or place of business and Solicit you. ------------------------------------------------------------- Always read your contract before you deal with…
The following represent the few situations in which a car salesman may choose not to honor a signed finance contract: * Customer provided false or misleading information in order to acquire the loan (therefore, the car salesman may cancel the contract) * Car salesman provided false or misleading information to the customer (therefore, the car salesman's manager may cancel the contract)
I assume you mean a repossession of a vehicle if you let your insurance cancel. When you purchase a vehicle and finance the cost of the vehicle you sign a legally binding contract. One of the terms in the contract is always that you must carry physical damage auto insurance payable to the finance company if the vehicle is a total loss or damaged. If you fail to keep this insurance you have broken the…
If you sign a finance contract for a car on Saturday and want to cancel the contract on Monday don't you have 72 hours to cancel said contract?
please visit www.IllinoisAttorneyGeneral.gov No Three-Day Right to Cancel Dealers are not required by law to give car buyers a three-day right to cancel. The right to return the car in a few days for a refund exists only if financing is not approved. However, some dealers may, by contract, offer a right to cancel. If you're not in Illinois, you might want to check with the Attorney General's office in your state? Al Brown Chicago
The only time the purchaser can cancel auto financing is in the begining of the loan during the "interview" with the finance company. That is one of the reasons the dealership will not tell you who the finance company is before they get "funded" by the bank. If you knew who the finance company was before the dealership gets funded then you can cancel the financing. The other issue you have is the contract signed…
What is the NJ statutory cooling off period in a contract purchase of a vacation network with a no right of rescission clause?
If you return a car 1 hour after purchase and cancel the check for the purchase through your bank what are your legal obligations?
You will likely be sued for the contract value of the car. You will likely lose. In a two-party contract like a auto purchase, you cannot unilaterally decide that the contract is no good. You may have committed a crime as well in canceling a check written for a binding contract. You should find an attorney very quickly to help sort out the mess you have created.
You cannot in any state. Their is no such thing as a cooling off period on the purchase of an automobile, unless someone came to your house uninvited and sold you a car. Otherwise, you bought it, so you own it, unless the dealer agreed to take it back and cancel the contract. Legally he does not have to.
You have an iphone on contract and want to cancel your contract and use it on a pay go plan but sim wont work?
In the state of Arizona how many days does a person have to legally cancel a written and signed contract when not done in the buyer's home?
You have three business days to cancel a contract if: The sale was solicited in the consumer's home; or A gift was offered for attending a sales presentation that led to the contract; or A consumer's primary home is used as security and the loan is not used to purchase or construct the home. Otherwise, a signed contract - for a car, an item or a service - is legal and binding in all 50…
None. Once you sign the contract you cannot cancel it. The Buyers Remorse law does not apply to the purchase or lease of a vehicle. Read the contract and see if there is a loophole you can use to canel the lease. Somthing like the car is not exactly as described or the seller changed the details without you knowledege, etc.
If you are asking is there a cooling off period or buyers remise law in Florida on the purchase of a used car the answer is no. Once you sign the contract you are legally bound to that contract and it cannot be cancelled unless the seller agrees to that cancelation. The Buyers Remorse or Cooling Off Period laws do not apply to the sale of a new or used vehicle in any state.