Auto Loans How to get out of a car deal, I just signed a day ago?

[sevenssp]

Hey everybody
I was luckily approved for financing a car at a Toyota dealership literally last night. They made me do all the paper work and sign contract and stuff. It went so fast. I got home I did not have peace about this. I made some research and now I think I am paying too much for this car. I would like to opt out of this contract and cancel this whole thing. How can I do it without much trouble? I did not have a good credit but they were able to find financing bank for me (barely they say). So is it going to affect my credit? Please help I still haven't got the car or pay my down payment It's just paperwork contract sign.
Thanks for your input

 

[txls]

Technically they don't have to let you out of your contract. Just go talk to them. They can if they will.

 

[disagreeable]

According to the Maryland Atty General, you should just enjoy your new car.

http://www.oag.state.md.us/Consumer/cpdfaq.htm

 

[mightymoose]

Sometimes an argument can be made that the contract is incomplete if you did not take possession of the vehicle and you did not make any form of payment. The contract is missing a necessary element called consideration. Take your contract to a local attorney and discuss your problem to find out if you have a way out.