What is the name of your state (only U.S. law)? California
I am negotiating with a dealer to purchase a new car they do not yet have in their possession. He is insisting that I sign a purchase contract and loan docs before they receive the car (this car is super rare, it's a one off chance). However, I have not done a test drive of the car, since the model is not yet for sale anywhere. He has assured me that if after doing a test drive once they get the car, if I am not happy, they will cancel the sale (which I believe is called an unwind). My question, can I actually control this? Do *I* have a legal right to an unwind of the transaction if I do not sign a form taking delivery? Or does the dealer have the right to say "too bad, it's your car", and the unwind would only be at their pleasure?
If you know the law or you can link me to something that will give me an explanation of my rights here, I would really appreciate it.
Thank you so much!
Donald
I am negotiating with a dealer to purchase a new car they do not yet have in their possession. He is insisting that I sign a purchase contract and loan docs before they receive the car (this car is super rare, it's a one off chance). However, I have not done a test drive of the car, since the model is not yet for sale anywhere. He has assured me that if after doing a test drive once they get the car, if I am not happy, they will cancel the sale (which I believe is called an unwind). My question, can I actually control this? Do *I* have a legal right to an unwind of the transaction if I do not sign a form taking delivery? Or does the dealer have the right to say "too bad, it's your car", and the unwind would only be at their pleasure?
If you know the law or you can link me to something that will give me an explanation of my rights here, I would really appreciate it.
Thank you so much!
Donald