Automobile purchase contract

Last wednesday evening we signed a purchase contract for a car, Thursday morning I sent the sales person an email stating we realized we couldn’t afford it. We never took position of the car, he said we cannot get out of the contract. Is he right? We are in St Louis County, Missouri.

Asked on October 30, 2018 under General Practice, Missouri


M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

Unfrtunately, in your satte, there is no right to rescind a contract for the purchase of a vehicle, otherwise known as the "cooling off period". Further, not being able to afford the payment is not grounds to void the contract. Accordingly, you can be held to the transaction even if you never took possession of the vehicle.

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

He is right, unfortunately. There is no "cooling off" period or right of rescission to an automobile contract; as with most contracts, you are obligated to the contract as soon as you put pen to paper and sign it. Also, unfortunately, not being able to afford the car is not grounds to get out of the contract, either.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.