I’ve been looking to purchase my first car, and I’ve got myself into a pickle. I signed the bank papers at the dealership for the car, and left a $100 deposit. I have NOT taken ownership of the car/driven it off the lot, and no insurance has been obtained for it, it was purely signing the bank papers and leaving a $100 deposit. The next morning, I woke up and realized I made a fast and dump decision and I wanted to shop around more. I called the car place and explained, naturally the sales guy was upset, I told him to keep the deposit. When I called him back to ask about the papers, he said oh well, it did say final sale on the papers you signed and I forwarded them to the bank alraedy… which doesn’t make sense because I signed the papers at 9pm and called back at 8am… Obviously they are upset, but they have been calling and trying to find a cheaper solution so it makes me think they are using scare tactics? to tell me it was a final sale?
My question is, I found another dealership with a much much better deal and much lower interest rate. Because I have not driven the car off the lot, or provided any insurance papers for anything, or given bank info… am I still bound? Can I walk away and just let them keep the $100 lesson learned? Thanks in advance.

Originally posted 2009-12-04 02:12:03. Republished by Blog Post Promoter