Anonymous
Anonymous asked in Cars & TransportationBuying & Selling · 6 months ago

I recently got a car that needed a loan under two people to finance, if one person signs and the other doesn t, is it complete?

Trying to return a car that has too high of a loan that I wasn t informed of. Tried to return, but they said all paperwork is complete although one party didn t sign their part.

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  • 6 months ago

    If this was the case, they'd have asked for the car back. It's possible that they got the loan bought with only one buyer. If so, you have no legal right whatsoever to return the car, and there are no laws to compel a dealer to take it back. Contrary to popular belief, there is NO federal 1/3/7/14/30 "right to rescind" law. The law that people reference specifically excludes vehicles. California offers you the option to buy the option return a vehicle within three days, otherwise, there are NO states with these laws on the books.

    You cannot possibly claim that you were not informed of the terms of the loan. You signed a Bill of Sale, a contract, and a Truth in Lending form, among others, all of which have the terms of the deal on them. You were informed, you just didn't pay attention.

    Source(s): 20 years retail auto sales experience.
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  • Anonymous
    6 months ago

    YOU WEREN'T ''INFORMED''? Bullshite. You weren't paying attention. EPIC FAIL. Nonetheless, go see a contract lawyer and take a copy of the purchase and financing agreement with you.

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  • Scott
    Lv 6
    6 months ago

    You can't give a car back without severe financial impact. If you had weak credit, it's going to get much worse. You agreed to the terms and conditions when you signed the agreement,

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  • In
    Lv 7
    6 months ago

    They let you leave with the car, so as far as they are concerned the contract is complete. Whoever signed is on the hook for the loan amount.

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  • Anonymous
    6 months ago

    How much did you put down? You will lose that for sure.

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  • 6 months ago

    If the one with good credit signed they are stuck with the financial agreement.

    It obvious but NEVER sign anything until you understand FULLY what you are agreeing to.

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  • 6 months ago

    Of course it isn't. You need two signatures and you only have one. So nothing will happen.

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  • Anonymous
    6 months ago

    Which party did not sign? The one with little or not credit or the other one?

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