QUESTION

Cancelled out of a new car contract. Dealer claims the car is mine and i'm stuck with the car

Asked on Jun 28th, 2013 on Contracts - Nevada
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1 ANSWER

R. Christopher Reade
Nevada has no right of rescission period in the purchasing of automobiles from dealers.  However there can be a right of rescission if the financing is never completed in accordance with the contract.  If financing on the vehicle has not been finalized, the dealer may take up to 15 days to arrange financing under the terms of the sale.  If financing cannot be finalized, the dealer then has three options: (a) rescind the sale and require the return of the vehicle; (b) finance the vehicle in-house under the original terms, or (c) ask the buyer to sign a new contract with different terms, at which time the buyer is not obligated to accept a new contract and may return the vehicle.    
Answered on Jun 28th, 2013 at 4:38 PM

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