financing

[Sorrowful]

I purchased a vehicle and am having buyers remorse. The dealership lied to me. I have had the car for 1 week, and the financing hasn't gone through yet. Is there any way to get out of the contract? I live in Oregon.
I know that they could finance me for a outrageous apr, but am I obligated to go with it? If I don't agree with the financing, is there anyway to get out of it without having the vehicle repossed? I'm assuming this kind of reposession would be catastrophic to my credit record? I'm hoping that if I don't agree to whatever financing options they offer me, I can get out of the contract and get my old car back.
Thanks for your previous responses..I'm still a little in the dark though.
Thanks,
Joel Kennedy

 

[I AM ALWAYS LIABLE]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Sorrowful:
I purchased a vehicle and am having buyers remorse. The dealership lied to me. I have had the car for 1 week, and the financing hasn't gone through yet. Is there any way to get out of the contract? I live in Oregon.
I know that they could finance me for a outrageous apr, but am I obligated to go with it? If I don't agree with the financing, is there anyway to get out of it without having the vehicle repossed? I'm assuming this kind of reposession would be catastrophic to my credit record? I'm hoping that if I don't agree to whatever financing options they offer me, I can get out of the contract and get my old car back.
Thanks for your previous responses..I'm still a little in the dark though.
Thanks,
Joel Kennedy<HR></BLOCKQUOTE>

My response:

You don't seem to get it. "Buyer's remorse" is not a justification for getting out of a contract. Also, when you signed the contract, you agreed to whatever financing they could find for you - - because for some reason you didn't, or couldn't, get it on your own. So, per the contract, whatever financing they get for you, that's it. You don't have a "choice" to accept or reject it. Further, the car has been driven by you, off the lot, and is now yours - - it's considered "delivered". Once they send the paperwork for Registration to the DMV, the car would then be classified as a Used Car, and of no value to the dealership in that condition. The bottom line is, you signed the contract, and now you're stuck. However, you are still free to take your contract to your own source and get your own financing to pay the lender that the Dealership gets for you.

Good luck.

IAAL



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