Brooklyn, NY asked in Arbitration / Mediation Law, Consumer Law and Contracts for North Carolina

Q: I put down money to lease a car a year ago. Do I have the right to reseind and keep that car? Cash & consumer credit mix

They told me I have to make a down payment to get a car and have car insurance beforehand. I was reading up thats possible to get your money back if you write a letter outlying the codes they violated.

1 Lawyer Answer
Lynn Ellen Coleman
Lynn Ellen Coleman
  • Licensed in North Carolina

A: I'm not sure where you read this, but requiring a down payment on a lease and proof of full coverage insurance is not illegal. Any right of recission would exist immediately after you signed the contract, and only for a limited time. You are asking if you can sign a long term contract, pay on it for the first year, then rescind the contract and get released from paying the rest of what you agreed to pay for the car? Not under the circumstances you describe.

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