Automobile Lease

[Dirtman]

Yesterday I entered into a lease agreement with Honda on a 2000 Accord. Today, unfortunate employment changes caused me to be unable to accept the offer. I returned the vehicle to Honda within 24 hrs. Honda says that the vehicle is no longer theirs, but the bank's. They informed me that they cannot take the car back, and that my return of the car can only be done as a repossession. The told me my only other option was to sell the car. Am I bound to the lease agreement although I returned the merchandise a day later, and my sun-roof has not even been put in the car yet?

 

[lisa l]

Read your contract carefully. I bet is says that there is no such thing as a cooling off period. What that means is that once you sign and drive off - the car is yours. You cannot come back the next day and try to rescind the deal.

Just get another, better job (which you can do) and enjoy your new car.