I just bought a car, I am I am finacing around 20k with a down payment of 2500, I signed all the paper work and did everything but I know don’t think I will be able to keep up with payments, let alone insurance since I am 19 and going in alone on it. I also want to go to school but with this I will need another job to pay off. I need to know if I can go back on it since I don’t have the car or keys since it is still at the dealer. I also don’t have insurance for it yet either. (new driver) Any help or know If I can get out of it?
Can I Go Back On Car Contract?
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No, that’s the point of signing a contract – so neither party can back out. There’s no right to cancel a contract. Since you haven’t taken delivery, you might get out of the contract, but may forfeit your $2500.
Nope. You signed a legally binding contract. You could always sell it back to them and take a huge financial hit. You could maybe sell it by owner and pay off the car.