Posts tagged ‘newly financed car’

4 Steps in returning a newly financed car

Returning a newly financed car can sometimes be an effective option if you eventually found out that you cannot afford the payments involved on the loan. This could also be a good leverage in case there are untoward events that occurred which would prevent you from making the payments. However, you need to check the loan contract before doing this. In addition to this, you also need to perform the following steps.

  1. The most important that you should do before returning the newly financed car is to read the purchase contract. This is because the contract has a specific part that indicates the length of time that you are allowed to return the vehicle in the event that you changed your mind. Make sure to read this part and return the car within the time indicated on the contract. There is a great possibility that you would not be able to return the car if you go beyond the indicated time frame.
  2. Make sure to return the car back to the dealer within the time allotted for its return. Make sure to bring along the important paper works involved in the car purchase. You also need to return the car together with the keys, the manual, and the title
  3. Drive the car back to the dealership