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How to Get Out of a Contract to Purchase a New Vehicle

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  • 07-13-2009, 12:26 PM
    flarayfan
    How to Get Out of a Contract to Purchase a New Vehicle
    My question involves a consumer law issue in the State of: Florida

    I recently signed a Contract to Purchase agreement for a new car. I had the salesman write down the VIN # of the car on the contract in order to ensure I am only liable to purchase the exact car I want. Before I put down a $1000 deposit (car has to be shipped from another state) I had the salesman cross out the term "unrefundable" and write in "refundable" so that I may recover my deposit if there is any problems with the car. I also had the salesman write on the contract that it is "contigent upon Cash for Clunkers "CARS program" for $4500 as my old vehicle and the new car qualify for this amount from the program which is what I am using as a downpayment. Since the CARS program does not take effect until 7/23 I want to insure I have an out in case there is a problem getting this $4500 voucher.

    I had the salesman sign the contract. Is there any potential problems with this contract or will I be able to get out of it without any loss of $$ if there are any problems?

    Thanks!
  • 07-13-2009, 08:20 PM
    jk
    Re: Contract to Purchase
    there can always be problems but as long as the contingencies are the only justification you would intend to use to invalidate the contract, it sounds like you should be fine.

    one contingency not in what you provided would be any necessary financing. If you have not included anything regarding such, if you cannot find financing and do require such, you are still on the line to purchase the car or be subject to whatever penalties a breach would allow.

    as I said, there can alway be problems and there are many more possible problems you have not addressed but, it is hard to address every one.
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