Consumer Lawyer
muskegon,#2REBUTTAL Owner of company
Fri, March 10, 2017
You need not take delivery to complete the contract. You sign, you're obligated. There is no 3-day rescission period for an auto loan.
MochaG
Springfield,#3Consumer Comment
Sat, May 12, 2012
That may or may not be true about signing a contract and it is not legally yours. If the contract said otherwise, regardless the car is delivered, it is your legal obligation.
Hope you have learned this that do NOT try to live above your mean. You already knew that you could not afford or you knew the budget you could spent, but you still went ahead. You need to learn it the hard way -- get into debt -- and learn to get out of it. Then you should have a good sense of how NOT to over spend what you have.
John
Memphis,#4Consumer Suggestion
Fri, May 11, 2012
Even if you signed a purchase agreement you aren't legally bound until you take delivery of the car. Since you have not done that you have nothing to worry about. If they try parking the car in front of you house to fake a delivery just call the police and have it towed as an abandoned car.
Robert
Irvine,#5Consumer Comment
Fri, May 11, 2012
The answer is simple, but you probably won't like it. Just don't not make the payments. Of course when you do you will be come delinquent. Then after a period of time they will repossess the car, because you didn't actually take the car off of the lot it may be as soon as you miss one payment. They will then sell the car at auction for a fraction of the value, and then come after you for the balance of the loan. If you fail to pay that they will turn you over to collections and may eventually sue you.
Sorry..I told you that you wouldn't like it. But because you signed the paperwork you made a legal obligation to purchase the car and make the payments for a specific amount at specific times. It doesn't matter if you physically have taken possession of the car you have already done the "damage".
Oh and if you can't even come up with the down payment for the insurance, it would have only been a matter of time before you would have missed your payments anyways, and had it repossessed. So it may just be best to cut your losses and move on anyways. With your post one really does not have to wonder why you were declined by others and ended up at a Sub-Prime lender. But if you think they are bad, just wait until you try to get a car with a Repossession on your credit.