Full question:
I'm in the process of leasing two vehicles, I have signed buyers orders and various other documents but have not signed the contracts as of yet due to the vehicles not being on the dealers lot for me to take them home. They are having them shipped in. After leaving the dealership, I did some further digging online with lease payment calculators. I seem to find that among the few sites I visited my monthly payment given by the dealer is between 40-80 higher than what online lease payment calculators show I should be at. I'm assuming this is a method for them to gain more profit. Since I have not taken delivery of them yet, do I still have the right to negotiate? Also, I have paid the full down payment for one ($4,000.00) and a deposit for the 2nd ($1,000.00) If they are unwilling to negotiate, do I have the right to demand my down payments back and simply walk away?
- Category: Contracts
- Subcategory: Recission
- Date:
- State: National
Answer:
Federal law provides a cooling-off period, during which consumers may return purchases and receive payment back. However, automobiles, vans, trucks, or other motor vehicles sold at temporary locations, provided the seller has at least one permanent place of business, are not included under this right of return. If a buyer has agreed to a purchase price, and the seller has upheld its obligations, it would be the seller's choice whether to renegotiate or allow the
buyer to rescind.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
