Is It Too Late To Back Out?

Kojak · 08-07-2015, 11:06 PM

I recently signed a preliminary contract and gave $5000 down on a new toy hauler. After going home I was told it would be a week or so before I could pick up the trailer because it is at another lot some 60 miles away. After doing some research I found that I might have bitten off more than I can chew. I will be over the towing capacity of my vehicle. So I woke up yesterday and put a stop payment on the check.
Am I still bound by that contract to finalize the sale? At this point since I still haven't lost out on any money can I change my mind? Am I able to just walk away?

gearhead · 08-08-2015, 03:09 AM

I'm not a lawyer...but I would be sure the "stop check" actually stops the check. Then I would call them and explain why you did it. You may suggest that you are still in the market for a trailer, but just not that one. Maybe that will keep them off you. They won't have that much money involved if they just have to get it from 60 miles away, if they have done that.

jimbari · 08-08-2015, 04:10 AM

Good advice from gearhead. Keep your lines of communication open with the dealer you gave the check to...NOW!
The laws of each state are somewhat different, so it might be well for you to check with your lawyer, or an accountant as to how you go about "buyers remorse" options.
Just my 2¢.
I was in business for 38 years, you like to know why a stop payment occurred!

gearhead · 08-08-2015, 05:28 AM

I would add....they may put some high pressure tactics on you. They probably think they have you hooked as a customer and will make all kinds of threats/promises/deals to get you back in the sales office. I would advise you to slow this process way down. Think through what you really want to do with a trailer. Your 3/4 ton will pull a lot of trailers but is limiting you to lightweight 5th wheels.

omextreme · 08-08-2015, 05:36 AM

An offer to pay the transportation costs of moving the unit may go a long way in your favor.

It is technically NOT the selling dealers job to verify you can actually pull the intended trailer but sure would be nice if they spoke up more often.

Ironically when we were shopping for a Bumper Pull TT most dealers asked about my truck, guess they didnt want me showing up to pick up a 30'tt in a Rav4. But when we started shopping 5th Wheels, not a single question was ever asked of my truck...

Luckybuck55 · 08-08-2015, 05:44 AM

Call them tell them the concerns that you have and I'm sure they will understand, if not then you stop payment. You should have 3 day right of decision . You own them respect just like you would want! Good luck!

jsmith948 · 08-08-2015, 05:51 AM

Agree with all of the above. You might also mention that you don't have a warm and fuzzy feeling about the salesman/woman that led you to believe you could tow that trailer with your truck. I think if you are cordially and tactfully honest with the dealer and express a continued interest in doing business with him you should be okay. He would still get the $5,000 deposit albeit for a less expensive trailer. I like the idea of paying his transport costs (he'll get from you anyway by hiding it in the cost of your subsequent purchase) Good luck.

**chuckster57** · 08-08-2015, 05:55 AM

Quote:

Originally Posted by Luckybuck55

Call them tell them the concerns that you have and I'm sure they will understand, if not then you stop payment. You should have 3 day right of decision . You own them respect just like you would want! Good luck!

Often times there is a "no cooling off" form that is signed so the 3 day rule may not apply in this case. IMO if the dealer is worth doing business with, they will respect your decision. I would show up in person, not call or e mail, and explain why your backing out. If they are unreasonable then your stop payment hopefully will stand. I doubt the dealership would spend the time and money to proceed with legal action, but again that's just my opinion.

old timer · 08-08-2015, 07:14 AM

Curious as to what kind of truck you have. You may be ok. You may be looking at GVWR and not towing capacity. $5,000 sounds like a lot of good faith money though. $500 would have been more reasonable.

Kojak · 08-08-2015, 09:42 AM

Quote:

Originally Posted by old timer

Curious as to what kind of truck you have. You may be ok. You may be looking at GVWR and not towing capacity. $5,000 sounds like a lot of good faith money though. $500 would have been more reasonable.

I own a 2008 Duramax Crew Cab 4x4 with a Standard bed.

Barbell · 08-08-2015, 10:39 AM

I don't know the law in California but in most states, buyers of motor vehicles and related items do not have a right of rescission. You may be in breech of contract unless you can show that you were defrauded in some way. Call an attorney first to find out what the law is and then either you or he should immediately get in touch with the dealer. You could lose not only the $5000 but a lot more if the dealer can prove damages. Don't forget attorney fees, court costs, etc.

**sourdough** · 08-08-2015, 10:57 AM

Well, you probably should have contacted the dealer to discuss the situation before placing a stop on the check. I doubt there is a recission period so you may have gotten yourself in a pickle. A signed contract is a binding contract and the dealer will most likely have the upper hand in determining how this plays out for you.

That said, I would contact them immediately and talk to whoever is in charge of the place. Explain what you did and why you did it. If the salesman mislead you or didn't warn you be sure to mention that. Also indicate that you still want a trailer abeit one that your truck can tow and that you want to buy it from them. If they have incurred costs to transport the trailer to their location offer to pay those costs. If they had to purchase it from another dealer, which I doubt, you may still end up with a trailer too big for your truck. The key is communication with the dealer and getting them to understand your predicatment.

omextreme · 08-08-2015, 11:20 AM

In person would be best, I would however wait until after the weekend so as not to tie up management on busy sales day,

Ken / Claudia · 08-08-2015, 11:32 AM

You need to check with your states laws, look them up on the web. They could be under DMV laws. Look up free lawyer webs. Your auto insurance co agent may have information. If you do not want to be sued etc. find out what rights your state gives consumers. They can be and are different per state. Really not much solid legal advice will be found on here.

Ram189 · 08-08-2015, 12:46 PM

I would call them asap.

As a car dealer and a guys signs then puts a stop on a check without calling first they get treated differently than a guy that calls and explains the situation and just explains the concerns.

Putting a stop on a check with no explanation or phone call is not a good way to do business.

rwmurphy15 · 08-08-2015, 04:47 PM

In Penna. you have the right to cancel a contract in 3 Business days

Timon · 09-01-2016, 12:48 AM

Been a couple of weeks, wonder what happen?

BirchyBoy · 09-01-2016, 02:41 AM

Quote:

Originally Posted by Timon

Been a couple of weeks, wonder what happen?

Actually, over a year. I wonder as well.

notanlines · 09-01-2016, 03:49 AM

I called my detective friend Paul Drake Jr in California and he discovered that Kojak did indeed keep his bargain with the dealer and buy the Raptor 300MP and also traded his '08 Chevy for a late model Dodge dually.
http://www.keystonerv.org/forums/sho...t=23280&page=5

Mike484 · 09-01-2016, 06:47 AM

You do need to do your homework before going to the dealership because there is no telling what they may do to make a sale. It is rare to find a salesman that will consider what is best for you over them recieving a commission check.

When we were shopping, the first thing we told everyone is that we are looking for the most trailer we can pull with a half ton pickup. Several salesmen showed us rigs that were over 7,000 pounds, we didnt bite. We kept looking and eventually went with a Passport at 5,500 pound dry weight. We even dump our tanks and make sure the fresh water is not over half full and we feel as though we are at the top of our limits. A 7,000+ pound trailer would have never worked for us but the salesman would have been happy with making a sale.

You may also like: