Can I take a motorcyle back if I never paid the down payment?

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Can I take a motorcyle back if I never paid the down payment?

I financed a motorcycle. I was not approved for the original amount so the dealer told the finance company that I paid $1100 down so they financed it for the lesser amount. Then he told me to just bring him the $1100 within the next month. I cannot afford that and I don’t want the motorcycle. It’s been 2 weeks. Can I cancel the contract? I haven’t paid him anything.

Asked on April 9, 2011 under General Practice, Arkansas

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

This whole statement of the transaction between you, the dealership and the lender has me shaking a bit in my boots.  It is really akin to perpetrating a fraud or misrepresenting the facts of the transaction.  And really I do not know how you yourself can handle it by not getting yourself in to deeper trouble.  You have a contract with the lender here.  I think that you should take the documentation that you have to an attorney to review and to see what he can do to feel out the dealer on the matter.  If you agreed to this is the first place then you were a part of the misrepresentation.  Now you just can not back out of the deal because why? You don't want the cycle anymore?  I think maybe the attorney can broker a deal with the dealership to have you pay the $1100 in installments so that all will be relatively well.  Get advise in your area.  Good luck. 


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