Auto Dealer wants out of signed contract

[platinumfossil]

In Arizona what are the rights of an auto dealership regarding wanting to back out of a signed contract? i took my old car in to a dealership to trade in on a newer used car. two days later i got a call from the dealer saying they found a major mechanical problem with my trade in so they want my new car back. i'm not sure what condition my trade in is in now, not even sure if it is drivable. do i have to take the new car back and leave with my old, possibly broken down car? when the deal was made i didn't know that there was any major problems with my trade in and the dealer gave me a fair amount of $ for it.
i have read online about the 10 day law in California but i can't find anything for Arizona laws regarding the dealerships rights. any help or advise would be much appreciated. thanks.

 

[army judge]

A contract is a contract.
Read yours, unless it provides the ability for the dealer to rescind, they're stuck with the car they bought.

If it had been the other way around, you'd be stuck.

This time, you have them.

 

[mightymoose]

You may very well a clause explaining the dealer's option to rescind, but it is likely limited to certain circumstances... read your contract carefully.
In the end, you do not have to return the car until a judge tells you to... but not doing so might cost you more later.