I have signed the contract by 7/2/2008 @ 10:00 pm with 2 checks and i had informed regarding my decision by 8/2/2008 @ 10:30 am. He is threating me that it will be credit history problem. But i did'nt even seen the car. Please guide me on proceeding further.
The real problem is, my project is getting over and i am going to my home country.
Yes i am in US and i have give the stop payment to the checks and the car is still in the dealers lot. Will there be any credit issues in this case?. Please advice.

If you are in the US, then until you take that car off the lot, it is not yours. Once you take it off the lot, you own it. Cancel the checks and go home!

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Comments so far:

1. by woodland haze on February 8th, 2008 at 3:56 pm

   Are you in the UK? If so I think you will find that any contract in the UK is covered by a 14 day cooling off period, whereby you can legally back out of the contract with no repercussions.
   References :

2. by cuddleyleo2003 on February 8th, 2008 at 3:59 pm

   If you are in the US, then until you take that car off the lot, it is not yours. Once you take it off the lot, you own it. Cancel the checks and go home!
   References :

3. by fencepro on February 8th, 2008 at 8:57 pm

   If you are in the U.S. and the car is on there lot, you are not obligated until you drive off of the lot. Put a stop payment on the checks, call the lender (name should be on the contract) and tell them that you have not taken delivery of the car and will not take delivery. Tell them to send confirmation of the cancellation to both you and the dealership.

   Good luck
   References :

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