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Old 08-15-2006, 04:44 AM   #1
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Join Date: Aug 2006
Posts: 2
help please!!!!

i need some help,
today i was sitting at home on my day off when i had an old buddy stop by to show me the new vehical he purchased, an 03 mazda r6. its an awesome car and i was excided for him. Then he told me what he paid for it. first off he paid sticker price for it, $16,900, way to much KBB has it at 12,300...then, his wife had really bad credit(this is who the car is really for) so he co-signed...but they are still paying 17.8% intrest, so the total in the end for the car is a little over 27,000. this is wayyy to much. for one, i know the dealership can come down on both the price and the interst rate. but im not sure how to go about getting this done since he signed for the car on saturday. is there any three day cooling off period in florida (i couldnt find it on the internet anywhere). and if so, is it to late???

anything will help, Thanks, Gary
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Old 08-17-2006, 05:53 PM   #2
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Join Date: Jun 2005
Location: Chattanooga, TN
Posts: 1,257
If you signed a contract, I highly doubt you can go back on it. I don't think car loans are like mortgages where you can refinance. Plus on a mortgage, you still have to wait a certain period of time before you can refinance.

In other words, never sign anything unless you've read the contract, the full terms of repayment, and any additional fees, interest rates etc. that may be tacked on to the sticker price. In signing it, you agreed to the terms as they were written. Legal and binding.
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Old 08-17-2006, 07:13 PM   #3
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Usually if you do not take possesion of the vehicle , or have not made the first(or down) payment ... they can reverse it... but there may be a buy out fee
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