Getting Out of a New Car Contract

[Moodyb4]

My question involves a consumer law issue in the State of: Colorado

I ordered an FR-S From a toyota dealership, and prior to it coming in they wanted me to sign the paperwork.
I had signed the contracts, and paid a 100 dollar fee to order the vehicle.
they told me in the finance office that nothing was final and I am able to go back on all of it.
While I was waiting for the car, I went in and found another car I wanted
Bought it, and traded my car in for it.
Still waiting for my financing to be approved on the car i currently have.
So I no longer have the trade in.
Best course of action?
I know I messed up.
I need help on getting myself out.



They keep telling me "we need you to come in and work this out" and over the phone they are working very hard to keep me into this contract.
Paperwork is signed, I have copies of all the paperwork I signed.
Is there any possible way to get out of this?

I still have not taken delivery of the car nor have I given them my trade in.


I am thinking about going into there.

Any help is appreciated.

[jk]

you need to review what you did sign concerning the FR-S. If it is a binding contract, you could be on the hook for costs incurred by the dealership in your purchase. If it was not a binding contract, you would just simply tell them; sorry, went elsewhere.


whether the deposit is refundable or not is going to be determined by what you did sign.

If you did sign a binding contract and it did include the trade in of the vehicle you later traded, you may have to pony up the money they figured for the trade when purchasing your FR-S.

[Moodyb4]

How do I know if it is a binding contract?

If it is a binding contract, do they have an option to let me out?
They said "we have a military rebate we applied for, we have *something* going to the dmv"
Are they able to cancel all of that stuff?
This is a car that is in high demand, and I don't understand why they are trying to swindle me into purchasing this if they can easily get a sale off of it to someone else.

[jk]

Moodyb4;646394]How do I know if it is a binding contract?

You take everything you have to a lawyer who can read it.

If it is a binding contract, do they have an option to let me out?

the parties to a contract can mutually agree to terminate the contract.

They said "we have a military rebate we applied for, we have *something* going to the dmv"
Are they able to cancel all of that stuff?

I don't know but if the car has not been delivered to the dealer, I cannot see how they can have anything going to anybody, yet.

This is a car that is in high demand, and I don't understand why they are trying to swindle me into purchasing this if they can easily get a sale off of it to someone else.

Ever here: a bird in the hand is worth two in the bush?

[Mr. Knowitall]

How do I know if it is a binding contract?

By reading it.

If it is a binding contract, do they have an option to let me out?

No, that would defeat the entire concept of binding you to the deal you negotiated.

They said "we have a military rebate we applied for, we have *something* going to the dmv"
Are they able to cancel all of that stuff?

If they offered you incentives in association with your purchase of the car, in order to get those incentives you must purchase the car.

This is a car that is in high demand, and I don't understand why they are trying to swindle me into purchasing this if they can easily get a sale off of it to someone else.

If you contact them to try to work things out, you can discuss your impressions with them.

[Moodyb4]

Going to go into the dealership that I bought a car from, to see if they will take it back.
Then go from there, thank you for the advice.

- - - Updated - - -

I spoke to the 2nd dealership that I traded in my vehicle to, over the phone.
They were extremely helpful, I am going there tomorrow to have them look over the contract that I had signed at the first dealership. They said if it is binding they will take the car back, and give me my trade in back, if it's not, they will 'give me some ammo' to use when i go in to talk to the other dealership.

- - - Updated - - -

Sorry, I didn't see an edit button.
I just stumbled upon some new information.
The contract has the car listed as an automatic, and i decoded the vin, which the vin states that the car is a manual.
Is this a contract voiding blunder on their part?