How do I cancel the purchaase of a use car loan at the dealership. do I have three da

[dar08046]

on saturday I cosigned a car loan with my daughter. we signed and now I founded out that she will not be able to make the payments because money she was suposse to ge she is not getting it. also on monday we found out because she is twenty her insurance will also be more than she can handel. how do I cancel this loan

 

[Patricia_Young]

You probably can't. Bad planning on your part does not give you the right to rescind.
http://www.fdic.gov/regulations/laws/rules/6500-1400.html

 

[army judge]

on saturday I cosigned a car loan with my daughter. we signed and now I founded out that she will not be able to make the payments because money she was suposse to ge she is not getting it. also on monday we found out because she is twenty her insurance will also be more than she can handel. how do I cancel this loan

If the first payment hasn't been made, some lenders will permit you to rescind the loan.
It might cost you some money, but a few do permit it.
Ask the lender, and tell them she can't afford it.

You've got nothing to lose, and it could forestall a "repo" down the road.