What are my rights if a car dealership took back a car that they sold me becauseI was not approved for a loan?

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What are my rights if a car dealership took back a car that they sold me becauseI was not approved for a loan?

Recently a car dealership talked me into coming in. It asked for paystubs and W-2 forms and sold me a 2008 vehicle. After I signed the papers they congratulated meand told me to bring the car back a few days later for brake work. When I brought the car in I was informed that  was not approved for financing the car. When I asked questions, the guy in financing screamed that I lied about my income. I told him that my income info is on the paystubs that I gave them before I even saw the car. I am looking at the contract and limited right to cancel is not checked or signed.

Asked on February 28, 2011 under General Practice, Ohio

Answers:

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

Answered 10 years ago | Contributor

What you need to do is take the contract to someone to read in its entirety.  It is too difficult to give any guidance in this type of forum on a written contract.  It would really not be fair to you.  What do you mean by :limited right to cancel?"  Who has the limited right to cancel?  Is it a right given to both of you or just you?  I may be because in Ohio there is no 3 day right of rescission for contracts relating to the purchase of automobiles and that contract may be giving you the right as the basis of the bargain, so to speak. Get help.  Good luck.


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