Cancel a used car contract

[Gaby831]

Jurisdiction

California

Hi my name is Gabby and I purchased a used 2012 Jeep with about 52,00miles. After coming home to a conclusion that my interest was too high as well as the payments I want to cancel my contract. I was not given a copy of my contact, I did not take the car or was given the keys? What can I do? Am I able to cancel

 

[Gaby831]

HELP!!

 

[army judge]

Hi my name is Gabby and I purchased a used 2012 Jeep with about 52,00miles. After coming home to a conclusion that my interest was too high as well as the payments I want to cancel my contract. I was not given a copy of my contact, I did not take the car or was given the keys? What can I do? Am I able to cancel

Yes, you can cancel anything.
Sometimes that means you go into default or breach the contract.
It always means there's a cost to any such cancellation.

In your case it might behoove you to return to the place of purchase, express your concerns, learn your options.

 

[adjusterjack]

After coming home to a conclusion that my interest was too high as well as the payments

You're supposed to come to those conclusions BEFORE you buy the car.

I was not given a copy of my contact,

That's on you. You NEVER sign anything without insisting that a fully executed duplicate is on the table in front of you so that you can sign both and take one with you.

What can I do?

I agree with Army Judge. Go back to the dealer and work something out. Just understand that it's going to cost you. Maybe in a small way, maybe in a big way. You won't know until you get there.

 

[Michael Wechsler]

We don't know the terms of what you signed or the details as to why you don't have a copy of the contract. If I agreed to pay $52,000 I wouldn't leave without a copy of the agreement. I don't know how they qualified you for the loan either. Some states have requirements of fair practices for auto / motor vehicle dealers. Here are a couple of links which may be useful:

California Car Buyer's Bill of Rights

Read about the options you have or should have had, including the optional cancellation provision for used car buyers. I don't know what may apply to you. Here are some excerpts:

For used car buyers only:

• A used car buyer may obtain a two-day sales contract cancellation option.
• Used cars advertised as "certified" must meet specific requirements.
• Used car buyers may purchase a two-day sales contract cancellation option. There is no "cooling off" period unless you obtain a contract cancellation option. Consumers who purchase a used car for less than $40,000 must be given an opportunity to purchase a two-day Contract Cancellation Option Agreement. (Note that this excludes off-road and recreation vehicles, as well as vehicles priced at greater than $40,000.)