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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 NOTcancel 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.

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โˆ™ 2010-05-30 14:16:24
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Q: If you signed a purchase contract stating that the buyer would finance can you cancel the contract if you can't get a loan?
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Related questions

Can you cancel a finance contract for a sofa if have not received the item?

Yes.


Can a car dealership cancel a purchase?

A car dealership can cancel a purchase if they haven't received the right amount of money to honor the contract. Otherwise, they can't cancel a contract that has already been signed.


Can you cancel a finance company contract within 30 days?

Not unless it was an unsolicited sale.


How long do i have to cancel a contract in new York state?

On the purchase of a vehicle you cannot cancel the contract as the Cooling Off Period or Buyers Remorse law does not apply to the purchase of a vehicle. You signed the contract and are legally bound to honor it.


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.


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 about this they have the right to repossess your vehicle and screw your credit up for life. You have obligations and the finance company has obligations under these contracts. If you have period of time when you cannot prove you have insurance then they will put forced place coverage on your vehicle to protect themselves and will charge the premiums to your account.


How many days do you have to cancel a car contract in Ohio?

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In the State of Florida How many days do you have to cancel a new car purchase contract.?

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Can you return your car to the dealership after you signed a contract?

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How can a seller cancel a real estate purchase contract?

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Maryland State law regarding right of rescission on purchase of a vehicle?

There is no cooling-off period for vehicle purchases in Maryland. The only way that you could cancel the contract would be if they could not produce the finance terms that they promised.


Can you cancel a new car purchase if car hasn't arrived?

If you have not signed a contract to purchase the vehicle then yes you can walk away. If however you have signed a purchase agreement, then you had better ask the dealer very nicely if you can get out of the contract.

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