Just bought a new car need advice on my rights in texas?

Question

I do not have the best credit and new in town, I went to a dealership and found a cute new 08 car that i liked.

Now that I've "slept" on it here are some things that are bothering me the morning after.

1. My new car (no previous owner) had 500 miles on it

2. The finance guy didn't give me copies of my loan docs that I signed because he said the bank has to sign off on it then I will get a copy.

3. There was some charge of $3000 extra to the amount of the car, yet I signed something for a $2000 factory rebate.

He said it was "blah blah blah blah" that's what it sounded like to me at least. But I'm waking up really bothered by it.

I plan on going in there today, but I know they will probably give me more of the same, so I was hoping to get some advice first.

Thanks

Answer 1

Many states have a 'cooling off' period, where you can just call it off.  Not sure if they have it in Texas and not sure how long the 'cooling off' period is.  But you can see if anyone else here can help you on it.

Answer 2

No, there is no "cooling-off" or "buyer's remorse" period where you can just take it back and wash your hands of the situation. That answer is incorrect.

On the $3000, it "might" be taxes/fees, etc., but that sounds a little high. If you traded in a vehicle, it also could be negative equity from your trade (if you owed $10,000 but they could only give you $7,000 for example).

Don't be surprised if the dealer calls you back and says "we couldn't get you approved" as it sounds like they are shopping the loan. Did you sign an actual sales contract with loan terms, lender, etc.? If they do call you and tell you that they couldn't get the loan done, take the car back and start from scratch. Come back here and ask about buying advice.

Answer 3

Do you understand that you are entering into a contract and that UNTIL you have completely PAID for that car and the interest on the loan amount,  , YOU don't own it , the finance company  does ?

And if you miss any payments, they have the right to TAKE IT BACK, untill you pay  up the acccount ?

Why in the world would  you sign to buy a brand new car, when it is obvious that you can't afford it, and don't  even understand  the actual terms of the deal ?

You can buy a 4 year old car that will be safe and MUCH less costly to buy and maintain and insure.

Jim B. Toronto.