Saturday, October 31, 2009

How can I get out of a car finance contract in Illinois?

I just bought a car today and I regret it. I believe that I have 72 hours to cancel the deal in the state of Illinois. Does anyone know for sure?



How can I get out of a car finance contract in Illinois?

I just answered a similar question regarding the state of Indiana. Unfortunately, you%26#039;re out of luck; no such law exists. Most MVPCs (Motor Vehicle Purchase Contracts) have a detailed fine print section on the back of the customer copy. Look for a line that states, %26quot;If you have taken delivery of this vehcile, this contract is binding and final.%26quot;



How can I get out of a car finance contract in Illinois?

There is no 72 hour law in any state for automobile purchases or leases.



It%26#039;s a common misunderstanding that comes from right of recission laws for health club memberships, door to door sales, and a few other types of transactions, but NOT for automobiles purchased at a dealer location. Sorry.



How can I get out of a car finance contract in Illinois?

You don%26#039;t have 72 hours, that%26#039;s a myth. There%26#039;s no such thing as a %26quot;buyer%26#039;s remorse law%26quot;. Car sales are final. The only legal way out of the contract is to pay it off in full.

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