Car purchase - sort of


#1

i signed the trade in paperwork but left prior to signing the sales agreement. can i back out of the deal?


#2

I doubt it. If you politely ask, all they can do is turn you down.


#3

If there is no signed sales agreement, there is no deal. Is there? The trade-in would be contingent on the sale of a new car, right?

What, exactly did you sign? “Trade in paperwork” is not much of a description. Who has the title to your car?


#4

I’d perhaps start out with the politely asking approach, but if that fails I’d at least consult with an attorney about this. The trade-in documents are probably contingent on the car sale, but it might very well have stiff withdrawl penalties and they may balk at giving your car back.


#5

Probably yes you can back out. Remember, the dealer really wants to make the sale – not keep your old car. So far there is no valid sales agreement. If he truly wants to clinch the sale he will allow you to keep your current car. If he is hard-nosed and refuses to give you your car back, he must pay you cash – something a salesman hates to do.


#6

If you kept the title for your old car, DO NOT sign it over or give it up. You did not sign the sales agreement for the “new” car. Keep your title. Without your signature on a sales agreement, NO SALE, and the Dealer can’t do anything.


#7

Well, it looks like I was wrong. Sometimes it is good to be wrong. Good luck with your car.


#8

How long has it been? Many states have a period of time after a major purchase that you can bail out. Some car dealers offer it - so certainly start w/ just asking.