QUESTION

Can i cancel a loan on a vechile i never took possition on?

Asked on Aug 07th, 2013 on Contracts - Florida
More details to this question:
Hello, I need to either know where to locate the information or to be told whether I am correct. Here is the issue, I went to a motorcycle shop, signed an agreement (Sat 7/27), did not take position of the bike it needed repairs. I called what I thought was their next business day (Mon 7/29) talked to the sales guy and was told they were closed on Monday and to call back Tuesday, I explained to him my situation, my primary vehicle has broken and I need to make repairs too, I am a beginner biker and can not use the bike as a primary source of transportation. I need to cancel the loan for the bike so I can take a loan to repair my truck. He told me to call Tuesday and talk to finance, talked to finance said it was not his decision had to talk to the owner he will be back in the office on Thursday. I have Thursday left message no return call. Called Sat and Tuesday again. no call back. Do I have legal ground to cancel the loan if I have never taken position of the bike? The loan company
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1 ANSWER

Consumer Debt Collector Harassment & Abuse Attorney serving Tampa, FL
2 Awards
Its possible. This may be viewed as a classic case of "buyers remorse" or just bad timing. If you signed the papers, you may well be obligated to buy the bike or work out a deal with the dealer or lender to return it, but this may cost you some money, down payment, etc...
Answered on Aug 19th, 2013 at 2:26 PM

All responses are NOT to be considered legal advice nor to be relied upon in any as such nor to establish any form of attorney/client relationship. Opinions expressed are solely informational and not a substitute for proper legal advice provided by a properly retained after thoroughly researching the issues presented.

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