Posted on: 14th Dec, 2009 05:25 pm
purchased a used truck yesterday 12/13/09. trade in vehicle still in wife's name, dealer needs her signature and 2K from savings. found out that state franchise tax board froze my accounts for a lien. I'm contacting my tax person tonite. question - can I get out of this loan, due to this situation of not getting down payment monies? A person said I could by first payment default. have had vehicle 24 hrs. please help. if the lien is right which I don't think so I can't afford this veh. thank you
Welcome daisy,
You can contact your creditor and cancel the loan rather than defaulting on the dues. However, as far as I know, right to rescission is not available in case of purchase of a vehicle.
You can contact your creditor and cancel the loan rather than defaulting on the dues. However, as far as I know, right to rescission is not available in case of purchase of a vehicle.