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Used Cars/cancel contract for purchase of used car


We signed the contract and got financing for a used Ford 2006 freestyle SUV. We found out that this model is no longer made and it has a long history of major repairs. We want to get out of this deal. No down payment has been made yet but  we got financing through our credit union. We live in  Florida. Thank you for your time

car guy
car guy  
Hi Jay,

Sorry to hear about your troubles ...if you have taken delivery of the car and the credit union has not cut a check to the dealer yet then tell them (CU) that you changed your mind and the van was not as represented etc. and tell them to not finish the transaction and of clurse don't make the down payment. Then immediately have someone follow you over there and drop the car off ...hand any salesperson you can find the keys ...get his name ...then leave.

If you have taken delivery and the credit union has funded the contract but you haven't made the down payment (how much was it supposed to be?) then call your credit union and tell them you are taking the van back and see if they have anything they can suggest on their end...they are usually on the CUDL (Credit Union Direct Lending) system and they are able to pull the money right back thru that portal. Then take the rig back and give someone the keys. After you drop it off then follow up with a call to the sales manager who will try to convince you that you can't do what you are doing...he is lying. Technically they could try to keep you in it by taking it back to your house and parking it and then going after you for the down payment but I just don't ever see that happen. You need to engage your bank to be your advocate ...most credit unions will ...but not all.

The last option is to tell the dealer that you don't want the Freestyle but still want to do business with them and find a different car on their lot. They will do this and the one thing you need to watch out for is not to let them convince you that the only way out of the 1st deal is to trade the Freestyle in on a new one ...MAKE SURE THEY UNWIND THE FIRST ONE AND YOU BOTH SIGN A RECISSION AGREEMENT CANCELLING THE FIRST CONTRACT ...if you find a rig with the approximately same book value and yrs and miles then the dealer could do whats called 'an exchange of collateral" with your credit union and just give them the title to the next car and get the title to the Freestyle back. your payments would stay the same and so would your rate.

I personally haven't had any issues with the Freestyle ...How long have you been in possession of it if you are?

MY personal email address is if you have any follow up questions then ask all you want I am with you until you are completely happy with my answers and can give me perfect ratings scores pof 10

PS if you have the car but can't reach your credit union until monday then you will still want to take it back ASAP ...write me back and tell me if you traded anything in on this new car and how long you have had possession of it please  

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Roger Alvey


I can answer any question about the car buying process. I am a recognized industry expert on all issues regarding auto finance, including sub prime and buy here pay here financing, I can answer questions about car lock out systems, GPS monitoring by your bank, and about auto recovery methods and defenses. I am a 20 yr car industry expert and can tell you what to look for in a used car, how to negotiate the deal, help with how to market your own car, and how to negotiate with the internet department of any car store. I can tell you every single way the dealer is set up to beat you and how to avoid those traps, I can discuss all aftermarket and extended service contract products you will be offered in the finance process, I have lectured extensively on "The Best Way to Buy a Car" to civic groups and university students. I am a credit expert and can tell you what the dealer and banks are looking for and the rate you can expect to pay. CHECK OUT MY WEBSITE AT


20 years industry experience in top management of dealerships and dealer groups. Recognized industry expert since 2004 in the Top 10 industry experts for The Gerson Lehrman Groups Auto Industry Council. I also do consulting work for Experts360, Atheneum Partners, Expert Connect and Coleman Research. I have been a franchise owner and understand all facets of the auto industry from the time the car leaves the factory until it leaves the lot with it's new owner. I have written training materials for both the prime and the subprime sales and finance process.

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