I signed for a 2007 Mustange on June 28,2008 and on June 30,2008 I discovered that I am unable to afford this.

Question

My husband and I were unable to get a specific loan and now the dealer is telling us that there is no way for us to get out of this. I ned to know if there is a law in Texas that enables us to return it within thirty (30) days from the date of purchase.

Answer 1

Work an extra job and learn from your mistake.  Try to sell it private party you may have to borrow some money to cover the difference between what you sell it for and what you owe on the car, but that's better than a repossession on your credit.

Answer 2

In Texas the law favors the dealer, especially if you've already driven it off the lot  You can try begging and pleading with the dealership's manager.  You don't want to have your vehicle voluntary repossessed.  It hurts your credit just as much as an involuntary repossession.  And you'll have a difficult time getting a decent rate on a car loan for a loooooong time.    

You can add a cosigner to your loan application.  And/Or submit applications elsewhere.  Multiple applications even.

Answer 3

Sorry, theres no way you'll be able to tuen in the car =(

Answer 4

No, sorry.  There is no law in any state that allows you to return a vehicle and there is no 3 day or 30 day grace period.

If you have signed all of the paperwork and the dealer is able to find a lender in accordance with what you signed, you are out of luck.

You would have to trade in the vehicle or sell it outright if you wanted out of it.  However, with the way cars depreciate, you will probably take a financial hit just to get out of it.

Your best bet is to try to plead with the dealer to sell you a different car and be nice about it.  Remember, however, that the dealership has no legal obligation to do it, so it is important to keep your cool.  

It isn't really their fault you agreed to take on the loan for something you are not able to afford.

Answer 5

You signed for it, now you are stuck with it