Undo Trade-In?

[JMoraru]

My buddy just traded in a truck and car towards a truck, plus had to finance a small amount. He left the car at the dealership when he did the trade, but still has the truck at his house. The title to the car is in his possession and the bank has the title to the truck.
Anyways, it has been less than a week and he regrets the trade. Is there anything he can do to reverse it or is it just up to the dealer? He said he signed all of the paperwork already.

 

[BigTang]

probably not. they have already contacted his bank and sent money for the title and will be looking for it soon.
his best bet at this point would be to convince them he can't pay for the car and get the title companies involved. he's probably better off keeping the new car or expect to take a several thousand $ beating on trying to undo it.

 

[vettez062002]

He owns it. Time for him to man up and deal with it. He made the decision. Now live with it. There are no undo's in life.

Sent from my ADR6400L using Tapatalk

 

[PSUCOBRA96]

why does he want to undo it? some places have a policy that you have a certain amount of time to return the vehicle

 

[Ironhand]

What did he buy?

 

[AznStanger3v]

i too wonder what he bought. to give up 2 vehicles and cash for 1 vehicle doesn't sound like a great deal from the get go. maybe he needs this lesson in life

 

[WireEater]

Sounds like his only hope is insurance fraud.

 

[JMoraru]

he traded in like a 04 dodge ram 1500 2wd and his gas saver civic for a 07 Z71, but now he second guesses it because of how much he uses the civic to save gas. im not sure on the rest, im just trying to help him out. he usually doesnt do stuff like this, but he came to me since im the "car" guy and have been through quite of few cars myself. wasnt sure how to help him.

 

[svtcop]

Sounds like his only hope is insurance fraud.

always the best advice. :lol:

 

[thomas91169]

Most states do not have a cooling off period anymore but the dealerships may have one of their own that they extend to buyers to entice them to sign. It would show this in one of the contracts he signed that he has until xxxx date until his cooling off period is up.


Sent from my iPhail using Tapatalk while doing 90 on the freeway and streetracing through traffic. What now?

 

[carrew]

The dealer will most likely make him pay a charge do to paper work and time involved to fix. Sorta like a restocking fee. Problem is many dealers will off load a trade in to a smaller used car lot during the trade. So their might be deals behind his deal and it could be a huge headache for multiple partys. It doesn't hurt to ask, but don't expect them to renegotiate a price since they are the ones doing a favor.

 

[white_gt500]

well maybe he can opt to get a newer gas saver if anything, if he's going to get stuck with a payment might as well be something that is practical if thats what he regrets getting rid of