What to do if my wife and I purchased a new car and the dealer took a trade-in site unseen as a down payment but now want to undo the deal?

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What to do if my wife and I purchased a new car and the dealer took a trade-in site unseen as a down payment but now want to undo the deal?

They called us today and said they are not happy with the van I want us to bring the new car back but contracts have been signed on. Can they do that?

Asked on November 25, 2014 under Business Law, Arkansas

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

If there are signed contracts, then can only "undo" the deal if:

1) the terms of the contracts themselves give them the right to do so under certain circumstances--and those circumstances exist; or

2) you lied, or committed fraud, about something material, or imporant, like  the condition of the trade-in van (fraud allows contracts to be rescinded).


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