Tips on Buying Cars: Purchased Contract, amy thanks, likelyhood

Question
Called dealership today to tell them we will not be bringing in down payment of money to proceed with purchase and to cancel it.  They said we have already signed the papers and that we purchased the vehicle and can't get out of it.  It still hasn't been loan approved.  Live in Utah.  Can we get out of it.

Answer
Amy,

Thanks for your question.  Technically since you signed the paperwork and took delivery of the vehicle, they are correct.  They do not have to let you back out of the car deal.  However, since you have not paid your down payment, they very well might let you back out.  Understand that they could also take you to court and collect the down payment that way, because you are bound by a contract that you signed.  The likelyhood that they will do that is probably minimal because of the expense that they would occur, which if you lost in court, they could make you liable for.  I don't hear of many dealerships taking customers to court though, because they don't want to get the bad press.

If I were you, as advise all people, call and talk to the General Manager and see what they will do about it.

Hope this helps.

Thanks - JB