Right to rescind a dealership purchase agreement

lisa54

lisa54

New Member
Jurisdiction
Florida
Hi I went into a dealership last night and signed for a new vehicle, I am financing it with my credit union, my credit union needs 1#buyer order /Purchase order singed by me and the dealership
2# copy of insurance card with the vehicle added to policy
3# name of my employer
when I got done signing the paper work we could not get ahold of my insurance company, and my insurance company can't write out a insurance for this vehicle without the vin# so that didn't get done, so my bank hasn't been apporced with all the right applications documents to proceed with the loan, and I told the finance dept guy after I had signed all the paperwork that I had 2,000 to put down on it, the guys out front never told him this, so it was late he said comeback tomorrow and we will have to redo paperwork and re sign everything...... now I have changed my mind, I do not want to purchase form this deanship, I wasn't given any paperwork and they have to re do it, my bank hasn't said ok , can I back out of this with out getting in trouble!
 
i don't believe my bank has even passed this approved cause they needed a insurance doc attached with vin# which I haven't done,
 
Seems to me that you would be in the clear if you just called up the dealer and said no deal.

But I haven't read what you signed so I can't guarantee anything.
 
You're probably fine. Just call and tell them you're not interested then see what they say. They don't have your trade or any money so they really don't have any leverage.
 
I'd also notify the bank you no longer want the loan just in case they try to push the papers through with what you did already sign.
I agree though, it appears safe to walk away.
 
For future reference don't sign until you are 100% sure. If you had driven away with the vehicle you would probably be stuck with it.
 

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