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What happens to the down payment if you cancel your contract?

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Wiki User
2005-02-09 09:20:58
2005-02-09 09:20:58

READ the contract you signed. Most possibilities are covered in the contract. the only way I know of to "cancel" a contract is if it was started at you home(usually door to door sales) or default by one party and usually involves legal action.

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This is not your car. The down payment enables you to have the privilege of a contract. So, pay up.

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I THINK SO. THE CONTRACT HASN'T BEEN COMPLETED UNTIL THE DOWN PAYMENT IS MADE. HE'LL PROBABLY VOID THE CONTRACT FOR FAILURE OF PAYMENT.

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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 dealer, And I think is 10 days is very common for cancel your contract but it all are depend on your down payment & dealer's financial condition.

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No, you signed the contract so that is legally binding.

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The money is gone after foreclosure.

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You need to review the contract you signed to determine if you can get your deposit back. If the agreement was contingent on your being able to amass the down payment then the contract can be voided. However, you need to review what you signed. It would be best to consult an attorney it there is no language in the contract to release you in this situation.You need to review the contract you signed to determine if you can get your deposit back. If the agreement was contingent on your being able to amass the down payment then the contract can be voided. However, you need to review what you signed. It would be best to consult an attorney it there is no language in the contract to release you in this situation.You need to review the contract you signed to determine if you can get your deposit back. If the agreement was contingent on your being able to amass the down payment then the contract can be voided. However, you need to review what you signed. It would be best to consult an attorney it there is no language in the contract to release you in this situation.You need to review the contract you signed to determine if you can get your deposit back. If the agreement was contingent on your being able to amass the down payment then the contract can be voided. However, you need to review what you signed. It would be best to consult an attorney it there is no language in the contract to release you in this situation.

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Not without the buyer's consent if a contract was already formed

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as long as it is disclosed on the purchase contract.

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As per law, the reasonable down payment for a roofing contractor will be 10 percent of the contract price or one thousand dollars whichever is the lesser amount

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Bit of a challenge here. A minor is not able to contract to buy a home, so how could there have been a down payment. If they are actually an adult, and made a down payment on a home, the parents are a natural heir. They can make a claim against the estate.

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By taking delivery of this vehicle you are agreeing to the terms of the contract. If you could not meet the down payment requirement then you should have never taken delivery. You can try talking to them to work out a payment plan of some sort.

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It depends what state you live in. In Idaho and Washington, once you sign the contract, the car us yours and you cannot back out.

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Not necessarily. Sometimes in a contract for sale or purchase, a down payment is accepted as "consideration," but other types of contracts do not require any such offering.

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You need to read the sales contract you signed in order to determine what you agreed to in your situation. You should call your real estate agent.

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A dealer can do whatever they want, they are not legally obliagted to sell you any car.

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The total of all costs that must be paid at the signing of the contract; the down payment plus any fees.

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Buyers remorse in Texas does not cover cars. If you agree to buy a car, and have signed a contract and put down a deposit, it is up to the seller to determine how much time you have to cancel. You may be unable to cancel without losing your deposit.

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If temperature is cooled down then they slow down therefore creating less kinetic energycontract

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On any contract purchase, you have 3 days to back out and get your money back.

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A down payment for select buyers is $360,000

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The duration of No Down Payment is 1.75 hours.

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Debit down paymentCredit Cash


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