Albuquerque, NM asked in Banking, Business Law, Civil Litigation and Contracts for New Mexico

Q: Can i cancel an auto loan contract on a new car purchase They lied about the actual abilities of the vehicle

I was told that this new electric truck would be good just plugging it in at home and I would be fine to use it the truck dies so quick I will be stranded any were I choose to go this truck is supposed to pull my mobile food truck around it can pull it but ill be left were we set up are business I purchased it on 1-17-24 and it will be in the shop 1-22-24 it was supposed to be in the shop on the 19th but the mechanic would not be there until Monday this truck turned out to be a big power will that won't get you very far I thought I made a good purchase but it was all lies from the salesman that got to buy it I am loosing money everyday

1 Lawyer Answer
James L. Arrasmith
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  • Business Law Lawyer
  • Sacramento, CA

A: If you believe you were misled about the capabilities of your newly purchased electric truck, you may have options to address the situation. In general, auto purchases are subject to state and federal consumer protection laws that may allow you to cancel or seek remedies for misrepresentations.

First, review the terms of the sales contract and any warranties that were provided. Look for any clauses related to vehicle performance, representations, or cancellation policies. It's important to understand your rights and obligations as outlined in these documents.

Second, contact the dealership or the seller immediately to express your concerns and request a resolution. Document all communication with them, including dates, times, and the individuals you speak with.

Third, if you cannot reach a satisfactory resolution with the seller, consider seeking legal advice from an attorney who can evaluate the specifics of your case and guide you on potential legal remedies. They can help you understand your rights under New Mexico consumer protection laws and whether you may have grounds for canceling the contract or seeking compensation.

Remember to act promptly and keep records of all interactions and documentation related to your purchase. The specific options available to you may depend on the details of your contract and the misrepresentations made during the sale. Consulting with an attorney can provide you with valuable guidance in pursuing a resolution for your situation.

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