I think I inadvertently purchased a car.

looking for some guidance, in Nor Kal... I'm not really sure, how bad I fucked this up... I didn't intent on buying a car, so I walked in to a stealership looking to see what my payments were for a new car, and yes I did them online, but there's a few details that are left out like taxes and interest rates, and didn't want to get blindsided by it, so curiosity killed the cat... Well, I ended up in financing and like a dummy signed some paperwork. Now I haven't officially received the vehicle nor copies of the paperwork nor given any money. I kept saying, I'm not buying the car, I just want to see what my payment would be like so I could budget something together if its a fit.... so.. With all this, I got a call from sales that the vehicle is there, but I'm getting super cold feet as I didn't intend on buying this vehicle nor test driving it, I'm sure I can afford it since I've done the math, I just don't want a car note right at this moment. I was ensured that I could cancel the deal at any moment as long as I don't take delivery of the car, but now I feel like I'm trapped... I haven't cleared financing as far as I know or anything. Maybe looking for suggestions, because I really don't know what to do, or how bad I fucked this up..... should I do what my people do and ignore the phone calls and hope it just dies in their finance department, or should I call them and be straight up with them about not wanting the vehicle... Thanks in advance...

 

Tell them your priorities have changed and its a bad time for you atm to proceed with the sale.

 

very well, I will do that...

 

Dude, if you signed then your stuck - the Devil’s got you. Bury your head in the sand all you want, what is done is done. Might as well enjoy it. You did buy a Tundra though, right?

 

You don’t own it until you take delivery if memory serves.

 

actually a Sequoia, pretty close though... If that's the case, I may take the L and voluntarily get it repo'd... claiming I can't afford it... or selling it to Carvana, which I'll take a massive L... something.. I'm looking at options, I've seen both sides, to where no delivery taken, the deal can't be completed, even if paperwork has been signed... They did mention something about an electronic signature required to complete the sale, which I wasn't down to sign and resisted against it, I did say I didn't want the color as the vehicle was not on the lot yet, they wanted me to test drive it first before completing all the paperwork..... I did resist as it wasn't the color I wanted either and stated I wanted another color which it was denoted on the notes on my folder, but they wanted me to do initial paperwork so I would complete later... which is why I feel like I'm stuck as you stated....

 

Don't plan on taking delivery, nor setting foot on the dealership either....

 

F that. Nothing is final until money and product exchange hands. Dealer may try to strongarm you saying you have no choice cuz that’s what dealers do, but hold firm. I’ve signed paperwork at a dealership before, fully intent on buying a vehicle...deal complete, contracts signed, then last minute the dealer backed out. I was like wtf.

 

yeah, all I've done is signed, but they wanted me to give them a down payment, to secure this car, and that one, in case you don't like it, but I've remained firm that I didn't want that car color specifically nor did I want to secure anything yet... In reality I had no intention of purchasing, so again, I feel trapped because of the signature part, but I've always been issued something like down payment, and received reams of paperwork, which again I have not received any type of copies of nothing or anything remotely close to this, I can try and stating my financial situation has changed and resist entering the stealership for any reason..... I just don't want them to plop the car in front of my house and mail the paperwork, since I really haven't agreed to much of anything, as far as I remember....

 

It seems to me the sale and the financing are somewhat separate. Don't accept delivery, but focus on the bank - Toyota Financing? Deal with them as a priority. Let them know you are not buying the vehicle and you no longer need a loan. The vehicle is the collateral, it's a bad loan for them if you don't possess it. Did title transfer to you with a lien? Maybe consult a lawyer, but you may be able to clean it up with the bank. I think they can cause you problems, but if they are not making money on financing, and the dealer margin is light, it's probably not worth their effort. Just get ahead of it and be upfront with what you stated, you never intended to buy the SUV.

 

I don't remember the lien title, yes it would be through Toyota Financial, I will give them a call on Monday morning. Best they tried to give me was 3.9, but I stated I could get lower elsewhere, but I did ask about a cancel option which I was assured I didn't need, I asked a lot of questions, and was told that the contract would not be validated until the completion of the sale with delivery and digital signature for the bank and final paperwork. They wanted to get it done then and there, but I refused to go further, so they stated it would be a paper temporary contract, but would not be validated until everything was completed with delivery and final digital signature... I will consult a lawyer on Monday as well...

 

Speaking from experience as an ex Toyota salesperson, the deal is not final until you accept delivery. As far as what was signed, I’m guessing it was the negotiation worksheet where you may have signed based off of monthly payment/out the door pricing. This is binding to the dealership (they can’t come back and ask you to pay more once both you and the sales manager sign it). It is not binding to you in terms of the car is now yours and financing is settled. So just tell them you are no longer interested for financial reasons, they can’t force you to come in/sign paperwork if you never took delivery of the vehicle. At least that’s how it works in Colorado.

 

I will inform them of this, no longer interested for financial reasons, but I will additionally call Toyota and get in front of this, just in case..

 

California just like Florida, does not provide a cooling off period if you change your mind. The dealership can hold you to the contract. Hope that don't.

 

Based on what you and @pyrite808 have said, It seems you don't have real problem. I would reject any claims from anyone who says other wise. basically, don't get bullied and don't take shit.

 

But isn't that cooling off period after taking possession of the vehicle? Taking possession, I would think it's done, the collateral or sale has depreciated significantly. In this case, I can't see it being worthwhile to the dealer or the lender to fight. But, I would still defer to a lawyer if it becomes sticky.

 

In Florida it is after you sign the paperwork....Once your "john hancock" is on there, it's yours.

 

I don't plan on taking anything...I asked about the cool off period, and they stated it was for used cars and once I took the car it would become a used car once it hits the street it is now mine, from what it was explained to me...

 

You may have to retain a lawyer, shady things going on....Why would a cooling off period apply to used cars and not new cars ?...makes no sesne.

 

I have no idea, but I've read that if a cancel option is asked it must be provided for a fee, I was guaranteed there was no need for that at this point and time since it wasn't binding. i d
The green bar at the top was not filled in, since I didn't want to go into the full paperwork.... I was informed I would be placed on the on-hold box, which was among another stack of folders, and I clearly stated it wasn't the color I wanted, for what it matters, since that was my "safe space" I don't want this car with this color, I want this one with this color... I did frustrate him, since I was resistant to alot of things he wanted and left the office, becaue I didn't want that car with color, so the sales guy and finance guy talked about its not going to be a sale, and we can preemptively figure everything out. You like the color and car, take delivery and complete the sale with digital signature as the bank will not take paper due to covid nor any other signature that wasn't digital in some pad he had... according to the financial guy....

 

I'm remembering most of this stuff a little at a time..... blinded by stupidity I guess...

 

Op it sounds like you are in the clear based on being in that ‘on hold box’. I remember that one lol, let’s just clarify...what exactly did you sign?

Did you work with a sales person, finalize a deal through sales management, and lastly go through finance(where they offer extended warranties/service plans, finalize price/downpayment/financing)?

Or is it the negotiation worksheet only as I mentioned, usually w/ model/specs, out the door pricing including taxes/fees, and your agreed upon monthly payments/downpayment? (Finance dept can change those numbers when/if you add ext. warranty/service plans and hence what really completes the deal)

 

I think you are dealing with typical pressure salesmen and they are F'ed, not you.

 

I'm hoping so

 

Doesn't sound like the paperwork was finalized.

 

Well if you signed papers in financing, I don't know what else there is to sign???

 

I worked with a finance person, we went through some of the options and maintenance plans, the down payment was set in sales. We came to a sort of finalized price, I didn't talk to a finance manager, as I didn't want to finance something I had not seen, nor driven before. I wanted to see, sit, touch and move about before I made any final financial deal, because the vehicle wasn't in the lot at the time, it was en-route to said dealership at the time. I asked what it would take to finalize the deal, if I decided to seal the deal, they stated I had to give a digital signature in the computer to make it official and it would be sent to the bank. It was placed on the table to finalize the deal, but I refused to sign it, and it was explained that it would be required to finalize the paperwork, as I have not finalized the paperwork, which would require delivery of the vehicle.

 

According to this you are ok, just as long as you didn't sign any paperwork to buy vehicle.

 

Shit i know all too well how stressful buying a vehicle is...$ 46000 and change 4 and a half hours later....

 

OOOH man, I think I just lost 15lbs... LOL... I know I'm a dummy for doing this, but hopefully this helps someone else as well...
I got a voicemail, I just listened to, the sales guy states the car arrived, and I should go try it and go from there... I'm not trying anything, but my Tundra on my way home

This took like 30 minutes literally from the moment I walked in to the moment I walked out..... Had my kid's class I assist with and barely made it in... Probably why I may be missing some additional details...