Used Cars/Used car

Advertisement


Question
I signed all the paperwork to purchase a used 2010 ford escort saturday, I havent taken possesion of the car yet and was wandering if i can get out of the contract? I am in the state of colorado

Answer
Hi Robert,

Wanted to get back to you asap because it sounds like you needed a quick answer ..soooo while this won't be one of my marathon ..'war and peace' lengthed answers it will be just as accurate and as always you are welcome to ask as many follow-up questions if you want and I will stay with you till you are completely satisfied with the answer.

Yes you can get out of that deal... Until you drive the car off the lot and take possession of the you haven't bought anything generally speaking. For contract to be forceful by both parties have to offer and acceptance in consideration at this point it sounds to me like you've received nothing for your promise. In the state of Oregon and Washington customer has to take delivery and drive the car off the lot before he is a bona fide owner

Hope this helps

My personal e-mail is roadloans at Gmail

Roger

Used Cars

All Answers


Answers by Expert:


Ask Experts

Volunteer


Roger Alvey

Expertise

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 http://thecarguyz.wordpress.com/

Experience

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.

Organizations
NADA, OADA, NFIB, State Certified Used Car Appraiser

Publications
Special Finance Insider, Dealer, and Automotive News, Gerson Lehrman Group Auto Industry Council News (frequently, various industry websites and blogs including my own blog at http://thecarguyz.wordpress.com/

Education/Credentials
Willamette University - Salem Oregon BA Economics Willamette University Graduate School of Business - Econometrics Statistics

Awards and Honors
GM's Award of (their most prestigious award) Given to Dealers who surpass their annual benchmark planning volume while also maintaining Top Box (top 5%) CSI

Past/Present Clients
Citadel Investment Group , Summit Partners US ,Broad Peak Investment Management, Nautic Partners, LLC, Hellman & Friedman Investors, L.P. and over 40 additional money managers, hedge funds and research groups

©2016 About.com. All rights reserved.