Getting Out Of A Car Purchase Contract, No Money Paid, Haven't Taken Delivery

[ffxhub]

Wife signed a contract on a new car on the 24th. The car she intended to buy was in transit to the dealership so she didn't even get a chance to test drive it. (Hopefully a good thing)

She told the dealership we plan to obtain financing through our bank, and left no money after signing the contract. I don't agree with her decision and would like her to get out of the contract. We've agreed that it wasn't a good idea to sign the contract in the first place.

Contract is from a Honda dealership in Fairfax, VA. It's a new car that we've never even seen. We don't have financing and haven't left any money.

Do we have a chance or not? Can we just call the dealer and tell them we don't want it or lie and state that we didn't qualify for financing or what? Any suggestions?

Thanks so much, Happy Holidays!!

[ffxhub]

What if you don't take delivery of the car and don't pay for it?? Signed a contract but didn't pick up the car yet. Also didn't leave any money.

Can I get out of the contract??

[jk]

No. Typically, the dealer does not carry the financing anyway so whomever it is financed through will continue to dun you for payment. If the dealership leaves it on their lot long enough, the finance company will eventually repossess the thing, auction it off and bill you for the balance of the loan.

If the dealer does not want it on their lot, they will have it removed as an abandoned vehicle and you will still go through the situation with the finance company.

[cheapfun4u]

that is not necessarily true he said he was obtaining financing so the dealership has no money yet they was obtaining financing from their own bank.




and in most states a car delivery does not occur until you take the vehicle off the lot contact your state attorney general and you should be fine

they can sue you .. ..and try for breach of contract but they still have the vehicle and more than likely if you do not take delivery they will just resell it otherwise they have to hold your car until litigation is resolved which could be years

[jk]

they would have to hang on to the car? Ok, if you say so.

and the litigation taking years?; possible but doubtful.

expensive for both sides, probable.

actually, they would be required to sell the car in an effort to mitigate their damages or chance losing any additional loss of value as it set on the lot.

The better situation would be to offer to pay for their expenses they incurred in retrieveing the car and maybe a "gesture of good will" payment on top of that to drop the sale.

and to this:

so the dealership has no money yet they was obtaining financing from their own bank.

and from the OPs first post:

lie and state that we didn't qualify for financing

unless the financing was a contingency within the contract, obtaining financing is more or less irrelevent.