How do i back off from a car deal? What charges can i incur?

Question:
I signed the paperwork yesterday for a new car that was supposed to be brought in from out of state, but today morning the dealer got to know that the car already has 500 miles on it. I talked to the dealer and said that i wanted to back off from the whole deal because paying so much money for a used car does not make sense.
I dont have the car neither does the dealer. The car is still out of state. Will i incur any charges or should i be worried about some fees that the dealer can threaten me with? Also should i request any paperwork that states that this deal is off or rather not bring up the question about any paperwork and simply ask him to destroy all the application on record?
How do i proceed?

Answers:

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Are they willing to give you a discount now?
Not sure about the charges. Ask your salesperson.

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Most states allow you to back out without penalty within 3 days. I wouldn't consider 500 miles a used car though.

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When you go to a dealership to buy a car, you test drive it first. A car that has been test driven several times and taken to the gas stateion to get fuel can have some miles on the odometer when you buy it, but is by no means a used car.

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A used car doesn't have the original title (called an MSO - manufacturer's statement of origin). A brand new car does.

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Too bad you decided to enter the adult world of business deals before you were grown up enough to do so.

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ยท THERE IS NO THREE DAY RIGHT TO CANCEL A CAR PURCHASE OR LEASE. If you sign the contract, you are legally bound by its terms.

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May I cancel the contract even after I sign it?

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If the car you buy is not what the dealer promised, the dealer may have breached its warranty. If so, then you might attempt to cancel the contract because of the breach. Or you might try canceling for no reason. However, you risk losing your deposit. The dealer also might file a lawsuit to recover lost profits, for time spent with you and on your car, and other damages.

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you can back out at this point and it not cause any damage to anything,and they can cancel the deal all together,i don't blame you for backing out on it,if i was buying a new one i would want to be the first to put the miles on it also,but the may make you a real good deal on the car if you decide to take it,so id keep my options open until i seen the car,you may change your mind,,,good luck i hope his help,s.
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