Find another dealer. Find out what car dealers don't want you to know at www.dealertricks.com ^^ are good advices. The good thing about having the Internet today is that information is very accessible. You can browse cars classifieds and research about a car before going to car dealers to have a knowledge or background about that car. You can get a car pricing and car value by searching it in the internet.
Yes. Repossession is about you not paying the bills - nothing else. The fact that the dealer wasn't honest with you doesn't give you the right to be dishonest with him. If you discover a hidden flaw in the car you must first give the dealer the chance to set things right. If the dealer can't fix it you can ask for (most of) your money back, or another car. But holding back paying isn't an option.
The cooling off period or buyer's remorse law only applies to unsolicited sales, and not to vehicles, so you cannot simply return it, unless the dealer agrees. However if he lied you may have a legal case against him. I would talk to the selling dealer and demand a refund if he indeed lied. If he refuses, tell him you will see him in court, and see what happens. He may back down and he may not. You may in the end have to sue.
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