Secured with SHA-256 Encryption
Compare Quotes From Top Companies and Save
The notes first payment is due tomorrow. I don’t want to start payments on a vehicle I don’t legally own. Can I return to dealership and tell them to cancel everthing? I spoke with the financing company and they said no matter what, I entered into a legal contract and need to start paying. Is it out of the question to have the dealership return the money?
Asked on April 13, 2012 under General Practice, Missouri
Answered 12 years ago | Contributor
Typically in the auto industry when one is paying for a vehicle over time the person buying the vehicle does not get legal title to the vehicle until it is paid in full. I suggest that you carefully read your purchase agreement for the item as well as the loan agreement in that their terms and conditions control how registered title will be transferred to you.
From what you have written, it seems that you are bound to a contract purchasing the car and depending upon your loan agreement with the lender, you might not get the registered title to the car until after it is paid in full by you.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.
Find the right lawyer for your legal issue.
Secured with SHA-256 Encryption
Secured with SHA-256 Encryption