If I recently signed papers less than 48 hours ago for a new car, can I get out of contract?

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If I recently signed papers less than 48 hours ago for a new car, can I get out of contract?

I did not drive car off dealer lot because finance company wants a copy of upcoming pay stub in 5 days. After further consideration, my hubby is unemployed so I’m now responsible for medical insurance, etc., I cannot afford a car payment at this time.

Asked on March 17, 2013 under Business Law, Pennsylvania

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

No, unfortunately, from what you write, you cannot get out of the contract. A contract to purchase a car is binding as soon as you sign it. The fact that you cannot afford a car payment or have though better of the purchase does not change your legal obligations.


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