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There's something really holding me back with this new Travel trailer.. probably price, and I think regardless of what I've been told 4200#~ dry seems a little risky for a 5000# tow limit. I signed the contract, have $100 down, and they told me when I come to pick it up in a week to put the rest down. Is there anyway I can back out of the deal??
I also just found out the gap insurance I paid for is the exact same the insurance company offers. for much less.
There's something really holding me back with this new Travel trailer.. probably price, and I think regardless of what I've been told 4200#~ dry seems a little risky for a 5000# tow limit. I signed the contract, have $100 down, and they told me when I come to pick it up in a week to put the rest down. Is there anyway I can back out of the deal??
I also just found out the gap insurance I paid for is the exact same the insurance company offers. for much less.
All I have is a promissory note/ security agreement, but I can't find anything on it with a number of hours/ days to back out of the agreement.
You will no doubt loose the C note,, but could be the best hundred you've ever spent..>>>Dan (If you DO cancel, do it ASAP to minimize their leverage)
A contract is only enforceable with consideration, being you haven't taken delivery the contract is not enforceable and they must return your deposit, might be a little fight but if they are hurting that bad tell them to keep the $100.
State laws vary on this, so Joe may be right, or Utah may be right, or maybe something else altogether. What you say you signed, however, doesn't sound like what most states define as a sales contract. Usually the laws pertaining to vehicle sales contracts are very specific about what constitutes a contract and your rights to cancel (often referred to as a "cooling of period"). If the document has no wording about cancellation or arbitration or other legalities, chances are strong it is NOT a binding contract. I suspect you are free to cancel and get your $100 back.
There's a couple paragraphs about arbitration, would that make it binding? I live in FL btw if that helps.. I wish legal jargon was easier to understand.
Eh, I found some info on arbitration agreements.. sounds like it would be a PITA to back out.. oh well. I guess everything happens for a reason!
If your in Florida I can guarantee you the contract is not enforceable, I have no clue how arbitration clauses came up but that's part of a valid contract.
Your post is a bit hard to read but it sounds like you financing it, if so just tell them you got laid off, they cannot legally contract you on the banks belhalf if they know that the circumstances have changed since application and approval, if you got your own financing just tell them it fell apart because of your job loss.
I owned a auto dealership in Florida, at times we would deliver a car on an iffy deal hoping the bank would buy the contract, taking a deposit was a waste of time.
Now on another side of the coin, let's say your not buying an in stock vehicle and your ordering it, the dealer can require you to provide a non-refundable deposit if your ordering something oddball (like a pink
Mary Kay car).
Google is your friend
http://www.haas-castillo.com/faq/contract-law-faq/
In most every state there is a period of time, I will not speculate how long for it varies from state to state, in which you can cancel a contract. There are also requirements, These too vary from state to state. In some you are required to send written confirmation via registered means to insure they get it.
What the rules are in YOUR state. I can not tell you.. Only that they exist.