Returning a Motorcycle to the Dealership After Signing Ownership Papers

[asylee10]

My question involves judgment recovery in the State of: Arkansas


My friend went to the dealership last month to purchase a motorcycle. The dealership told him that he was approved for financing and pursued signing paper for ownership. Yesterday, he received a "rejection" notification from the bank he was expecting to finance him. What should he do? Will he be able to return the motorcycle to the dealership even though Arkansas law says that NO CANCELLATION? What best advise would you give him? Thanks in advance for all your comments.

[jk]

it all depends on how the sales contract is written. If the sale was contingent on the financing as it was written, then the sale would be voidable. If it wasn't, then your friend needs to find financing for the motorcycle.