Used Cars: Finance Contract, scare tactic, finance agreement


Question
I just signed a finance agreement for the purchase of an '04 Toyata, Sienna, in Georgia.  I felt really pressured into signing the contract, but did againg my better judgement.  I did not however take possession of the car...I left without it.  Am I leagally obligated to take possession of the car if I have signed the finance agreement?

Answer
Tasha, I'm from Texas and the law is if you do not take possession (no goods received) you do not have to fulfill the contract, Next, call your insurance company immediately and have a note put on your account "Do not add any insurance to any vehicles without my personal info, you must call me first at ### ### ####" The dealer cannot cash the contract without verification of full coverage ins, but the salesman may try to call and add the car on your policy. Last call the bank who the loan is with, tell them that your not trying to be rude but you felt pressured, you did not take delivery, you will not put insurance on the vehicle and have no plans what so ever of making any payments. You may be threatened that you will have a repo but that is just a scare tactic, the bank won't tell you that but the dealer may, don't worry. Relax, everything will work out. Now the dealer may call you up and try to re negotiate the deal, if they offer you a better price or interest rate you may want to re consider. Let me know if you need more help and Hey have a great day.