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Buyer's rights regarding purchase of new car if loan was denied

Asked about 3 years ago - Daytona Beach, FL
Business Business Loans Contracts

I purchased a new car on Dec 17th. The dealer called today and asked me to bring back my paperwork because the Credit Company did not approve the loan. They want me to sign with another credit company at a higher interest rate. Can I refuse to sign and return to car without any legal or financial repercussions?

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Attorney answers (1)

Reputation Level 15
Answered over 2 years ago. Landlord / Tenant Lawyer in Orlando, FL.
The answer depends on the terms of your purchase contract. Quite often the dealer provides for the contingency in the contract.
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