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by COPPER1 on April 5th, 2007

COPPER1

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Can i cancel a auto loan and return the car to the dealer?

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Answers. 8 helpful answers below.

  • by jls on October 22nd, 2009

    jls

    My friend did that took the car back 2 days later but he had borrowed from the bank.... the bank then auctioned the car for a 9000k dollar lost and he was responsible for the rest. They took him to court over it. It really ended up just lessening his credit.

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  • by TERRYTUKER on October 22nd, 2009

    TERRYTUKER

    not after 10 days. but you can sell the car back to the dealer and take it in the rear with the loan company

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  • by Derf on October 22nd, 2009

    Derf

    What you are doing is called a voluntary repossession and will have the same effect on your credit as if they came out to your house to take it from you.

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  • by qwerty on October 22nd, 2009

    qwerty

    Well even if you use mfg financing like GMAC
    the dealer didn't lend you the money, so you would most likely have to deal with the finaqnce co.
    read the fine print, you have, in some cases, 3-10 days to cancel the contract

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  • by Anonymous on October 22nd, 2009

    Anonymous

    what is the procedure to cancel auto loan and return auto to dealer

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  • by SonicSand on April 5th, 2007

    SonicSand

    I don't know how long since you closed the deal, but in many states, you have three days to change your mind and yes, you could retrun a car to the dealer within that time period. Of course, be prepared for the car dealer to offer you the moon to keep the loan (and car.)

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  • by Anonymous on December 6th, 2007

    Anonymous

    can i cancel an auto loan signed 2 days ago

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  • by sussanesylvia on May 26th, 2010

    sussanesylvia

    Share your answer...

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