Loan applications - 3 day cancellation?

[LoriH3656]

What is the name of your state (only U.S. law)? Rhode Island My 21 year old daughter applied for a loan for an ATV and was approved. Does she have three business days to legally back out?

 

[justalayman]

to back out of what?

a loan application is only a loan application. A person is not required to follow through with accepting the loan.

 

[Andy0192]

Did the 21 year daughter take delivery of the ATV?

 

[LoriH3656]

State mix up

My mother put Rhode Island but the quad is in Mass and financing through New Hampshire. I didn't take the quad it's still sitting in the dealer. I ordered parts that weren't supposed to be in until Wenesday. The only thing they did to it was put new tires on it.

 

[justalayman]

Oh, you want to know if there is a recession period for the purchase, not the loan.

refer to the contract for cancellation options.