My question involves a consumer law issue in the State of Florida:
I have a certain situation and need legal advice. I recently bought a car 3 weeks ago brand new from a dealer. I financed it with another institution and I just decided that I will have to take the car back because it is not what I expected and the car has some bad things that I really cant explain atm (it's not faulty, just doesn't feel right). I called the financial institution and they said that since I have not made my first payment yet and the payoff check has not been cashed (they send me a check to the mail that I have to give to the dealer), that I am under no obligation and I can cancel the loan at anytime if I wanted to.
I talked to a manager at the dealer and he very kindly discussed the situation and told me that the only way they could do something is to do a trade (which I am not willing to because of the depreciation of the vehicle) or they'll have to file a lawsuit for the money. Technically I can leave the car over but they supposedly can still sue me for what I owe, even though I can actually cancel the loan with the institution I financed it with.
What should I do in this situation?. I have no obligation to pay the loan as the institution told me. Is it worth it?
I have a certain situation and need legal advice. I recently bought a car 3 weeks ago brand new from a dealer. I financed it with another institution and I just decided that I will have to take the car back because it is not what I expected and the car has some bad things that I really cant explain atm (it's not faulty, just doesn't feel right). I called the financial institution and they said that since I have not made my first payment yet and the payoff check has not been cashed (they send me a check to the mail that I have to give to the dealer), that I am under no obligation and I can cancel the loan at anytime if I wanted to.
I talked to a manager at the dealer and he very kindly discussed the situation and told me that the only way they could do something is to do a trade (which I am not willing to because of the depreciation of the vehicle) or they'll have to file a lawsuit for the money. Technically I can leave the car over but they supposedly can still sue me for what I owe, even though I can actually cancel the loan with the institution I financed it with.
What should I do in this situation?. I have no obligation to pay the loan as the institution told me. Is it worth it?
Loan Agreements: New Car Purchase. Need to Take It Back but Dealership Won't Accept It
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