What is the name of your state? Texas
Hello guys!
I have signed a retail installment contract with a dealer for a new car. I then decided to cancel this contract the next day, but the dealer will not cancel it. The point here is that I hve not taken posession of the car yet. The car was from the lot and not ordered or anything crazy like that. I spoke with two other finance managers at different dealerships, and was told that until I actually take posession of the car and sign off on it at that time, the contract is not valid. The dealership was upset when I told them that I did not want to go through with the deal, and offered to lower my payment and such..
What do you guys think? This is Texas, and I was suprised to find that the is no 3 day cool off period for car purchases... Everyone that I have talked to says the same thing about the posession part, so I am wondering if anyone has had experience with this and what is the actual truth. I looked at hte texas DOT web page for the rules and found it states there is no way to cancel the contract once the car is posessed.. and that is the point of question.
Hello guys!
I have signed a retail installment contract with a dealer for a new car. I then decided to cancel this contract the next day, but the dealer will not cancel it. The point here is that I hve not taken posession of the car yet. The car was from the lot and not ordered or anything crazy like that. I spoke with two other finance managers at different dealerships, and was told that until I actually take posession of the car and sign off on it at that time, the contract is not valid. The dealership was upset when I told them that I did not want to go through with the deal, and offered to lower my payment and such..
What do you guys think? This is Texas, and I was suprised to find that the is no 3 day cool off period for car purchases... Everyone that I have talked to says the same thing about the posession part, so I am wondering if anyone has had experience with this and what is the actual truth. I looked at hte texas DOT web page for the rules and found it states there is no way to cancel the contract once the car is posessed.. and that is the point of question.
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