What happens when financing for an auotmobile falls through and you have already driven the vehicle for a week?

Answer

In most states, when you sign an automobile purchase contract there is a line on the contract that requires signing that is usually titled "Notice of Rescission Rights" that basically gives the seller the right to rescind the the contract if the seller is unable to assign the contract to a financial institution. However, the seller must give you notice of there intent to rescind within 10 days or the seller may forfeit their rescission rights.

First answer by ID1082925602. Last edit by ID1082925602. Question popularity: 111 [recommend question]