La Puente, CA asked in Contracts and Banking for California

Q: A sellers right to cancel within 10 days, what happens after if they want to cancel due to financing

I traded my vehicle to a dealership on 2/15/21 and I received a call from them yesterday 2/25/21 asking me if I could put more money down or get a co-signer. What happens if they call me today saying they could get financing since it is no longer within the 10 days?

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1 Lawyer Answer
Yelena Gurevich
Yelena Gurevich
  • Studio City, CA
  • Licensed in California

A: Since they called you on 2.25.21 asking for more money, you will have a hard time proving they did not "cancel" within 10 days since 2.25 was day 10. At this stage, the dealer can ask for the car back and give you back anything you paid/ traded in, or the dealer can choose to become the finance company. The dealer cannot force you to sign a new contract.

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