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fraud, about something material, or imporant, like the condition of the trade-in van (fraud allows contracts to be rescinded).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