Tips on Buying Cars: Cancel Contract - New Car Purchase, new car purchase, monday night

Question
I just bought a new Toyota Monday night from a dealer in Florida.  The contract says I have 30 days to cancel.  I want to cancel.  Will I get my down payment back and what about my trade-in?  They gave 2100 for the trade-in.  Will I get that back as money or will I get my car back?  I feel desperate and am so grateful for your counsel.  Thanks.

Answer
Carlos,

You are correct.  You have 30 days in Florida to back out of a contract for specific reasons.  You need to read your contract and the provisions for that 30 day backout period.  

If you can and choose to cancel your contract, you are entitled to your down payment back and the 2100 for your trade in, less any amount that the dealership gets per the contract, or if they still have the vehicle, you may get your car back.

Hope this helps.  Let me know if you have any other questions.

Thanks - Jb