Does possession have to occur to complete sale of used car? Posted on August 08, 2011
I signed a car sales contract, including the financing documents at a used car dealership two days ago. I should have looked more carefully at the contract because I later noticed that the sales price was not what we had agreed on. I hope I am able to back out because I have never taken possession of the vehicle. The "assignment by seller" section on the back of the "retail installment contract and security agreement" says, "The vehicle has been delivered to the Buyer in good condition and has been accepted by the Buyer." I have never taken the vehicle or delivered my current vehicle for trade. The contract also says that I have paid a $1000 down payment, but I have not. I hope not taking possession at any time will help me to void this contract. I have contacted the dealer to tell them that I want to back out and of course they say I can't. What should I do? I am in Utah.
Click to View More Answers: