Cancelling a car deal can be dangerous
It is difficult to cancel a car deal. It is not normal for someone to drive a car around the dealer’s lot and then return it to them without any consequences. Here are some things you should expect when you cancel a deal.
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- You could be charged a fee if you cancel the agreement.
- The dealer might try to keep your downpayment and/or trade in if you cancel the deal.
- The dealer can sue you, regardless of whether you cancel.
- You could end up having to keep the car you don’t want if you can’t cancel the deal
It’s difficult to cancel a car deal, so it’s best to be open to compromises. It’s a win-win situation if you follow the steps below and the dealer offers to lower your payments. It’s also a win if the dealer offers to exchange your car for another one.
How to cancel a car deal by yourself
These steps can be used if you are unable to or unwilling to get legal advice. Each step is possible to be successful, according to my experience.
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- Before you sign anything, make sure you review every aspect of the deal. There are generally four elements to every car deal:
- Each side must agree to terms (price and equipment) for a vehicle they wish to buy/sell.
- Both parties must agree to terms and possibly pay off the trade, if applicable.
- You or the dealer have to agree to finance, so your deal is not contingent on financing.
- Each side signs a series legal documents to record the sale with the state and bank.
Any one of these issues can cause the deal to be invalidated. A problem or error can at the very minimum give you leverage to try to rescind or rework a contract.
- Step 1: Review all your Docs
Read all documents. You will find a section pertaining to cancellation. Make sure you read and understand this section so that you are prepared to ask the dealer to cancel your deal.
Look out for any paperwork mistakes. It is possible for a dealership to make a mistake, such as a wrong VIN or incorrect mileage, or a missing signature, initial, or other error.
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Dealerships may ask you to sign additional paperwork if you have not signed anything. You have the right to refuse until they modify your contract.
It is possible that the paperwork from the dealership contains the incorrect VIN, color, mileage, or name. You have the right to refuse to sign any corrected documents until they amend your contract.
Dealers who underestimate your vehicle’s payoff may try to get more money from customers. You have the option to refuse to pay or to demand a modification to your agreement.
So on. You could be sued if you do any of these things (I don’t know how), but I have never heard of a dealer sue a customer for asking for a better deal.
Paperwork errors are very common in the automotive industry. You can almost always find an error if you look hard enough.
- Step 2: Find out Who Your State Regulators are
Each state has a regulatory body that oversees automobile dealerships. Some states have a licensing board that licenses dealers. Some states have a licensing board for dealers. Others have a consumer affairs office or consumer protection officer. Each state also has an attorney general.
It is important to identify the entity that you would like to complain about the dealership in your state. You should know the correct name and the procedure to file a complaint. This is not the time to file a complaint. You just need to have all the information so that you can begin assembling documentation.
- Step 3 – Take the car back to the dealer’s lot
It is important to bring the car back into the dealership. It is not enough to park the car on the dealer’s lot to cancel a deal. However, it is enough for the dealer to notice.
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To return the vehicle:
- You can park your car in the dealer’s lot, then drop off the keys at the front desk or with any sales manager.
- If the dealer manager refuses to give you your keys, put them in an envelope and drop them off in the “night drop” box after hours. Include a note/letter stating that you will be returning the car and that the keys belong to the dealer.
- You should send an email to the dealership’s sales manager explaining that you have returned your car. Also, explain where it was parked and where the keys are. This email should be sent to the same salesperson, finance manager and any other person at the dealership that you have an email address.
- Make sure you explain to the dealer that you don’t believe the deal is valid and that you will return their property.
- It is important to be clear that this does not allow you to cancel a contract. Your vehicle could be towed away by the dealership and impounded at your cost. You can decide how serious this (or similar threats) is. Although I don’t know of any dealers doing this, I have heard stories. So proceed at your own risk.
