Reply
Like what you see? Go ahead and show your support! UCAN is a truly independent non-profit watchdog organization, dependent on grassroots donations like yours!
Utility Consumers' Action Network
(619) 696-6966 or file a complaint about a company online.
Terms & Conditions
UCAN.org is made available by the Utility Consumers' Action Network to assist you in becoming what you always knew you could be, a consumer ROCK STAR! We take no corporate money, and are beholden only to you, the consumer. As such, the site is here for educational, advocacy, and empowerment purposes, as well to to give you general information and a general understanding of the law. Just remember this site is NOT here to provide specific legal advice. By using this web site you of course understand that there is no attorney client relationship between you and the Web Site publisher, UCAN. The Web Site should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
That said, get to digging on the site, inform yourself, speak your mind, and earn Watchdog Bones! This is YOUR site, and we mean it. So comment on any of the content, discuss the latest issues in the forums, file a complaint on a company with the fraud squad, and generally cut loose.
See our Privacy Policy and Copyright Policy, Some Rights Reserved
Cancellation of Contract
They are within their rights to cancel the contract only if on the back of the retail installment sale contract, (typically lower right corner) there is a seller's right to cancel.
They exercised this right within ten days by notifying you within one week. However, when you signed the new contract, that time frame restarts from the date of the contract.
Waiting 14 days is beyond the time frame allowed for cancellation.
Here are the catches. If you can show the dealership did not cancel the contract within ten days of signing the second contract, you can keep the car and make the scheduled payments to the dealership. They are considered by the law to be your bank. Which means the date on the contract is when your first payment is due.
Now, if the dealership sent a letter, made a phone call that went unanswered, etc. within those ten days, that is considered a cancellation.
My suggestion is that if you are credit worthy take the trade in back as well as the down payment and return the vehicle. Making payments to the dealership does not appear on your credit report and won't assist your financial stability in any way.
However, if you have challenged credit in which financing is difficult to obtain, contact the dealership and inform them that you are aware of the Seller's Right to Cancel policy. Their intent to cancel has expired and as a result, you will be making payments to the dealership each month on the scheduled date.
Good Luck.