Question:
we're trying to buy a new car, but got stuck in a deal with a dealership, we haven't gotten the car yet, but we've already signed the title away to our old car. can we get out of this?
Answers:
Are prices negotiable for buying a new vehicle? (ford dealership)?
In order for a contract to be binding, each party must receive something of value. Your have received nothing, hence there isn't a valid contract.Selling my out of state Vehicle in CA.?
Go get your title
Here in NY, dealerships must adhere to a 3 day no questions asked policy that lets you return the vehicle, even if you have taken possesion of the car. You sign a paper saying that you have been made aware of this policy by the dealership. Not sure what happens to your old vehicle, but it must be in the small print somewhere. I would bresume it must be held till the end of the 3 day period and returned if you return the new car. Check your states' laws. Perhaps the Office of the Attorney general for your state has a website like NY's - see link below...
Do car dealers lease used cars or only new cars?
It's interesting that you have already signed off on your car, the dealer must have swayed you into buying, then financing or something fell through. For new car dealers, there is a three day threshhold where you can stop a deal. The first thing I would do, is get my title back, the deal hasn't been made, they have no right to hold your title. Having it signed off, and odometer disclosure signed, you could be without a new car or your old one. Get back down to the dealer and demand that title back, now. If you run into problems. contact the Dealer's Division in your state, all car dealers, new/used must follow strict regulations, having you sign of your title before the deal is made is wrong, the dealer's division will help settle your issue and get your car back.More Questions & Answers ...
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