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car loan

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daisy06 Joined: 14 Dec 2009 Posts: 1 1.00 Dollars($)	Posted: Mon Dec 14, 2009 6:25 pm    Post subject: car loan Like 0 Dislike 0 purchased a used truck yesterday 12/13/09. trade in vehicle still in wife's name, dealer needs her signature and 2K from savings. found out that state franchise tax board froze my accounts for a lien. I'm contacting my tax person tonite. question - can I get out of this loan, due to this situation of not getting down payment monies? A person said I could by first payment default. have had vehicle 24 hrs. please help. if the lien is right which I don't think so I can't afford this veh. thank you
adonis Joined: 22 Oct 2005 Posts: 10250 Location: ALASKA 1043.57 Dollars($)	Posted: Mon Dec 14, 2009 9:59 pm    Post subject: Like 0 Dislike 0 Welcome daisy, You can contact your creditor and cancel the loan rather than defaulting on the dues. However, as far as I know, right to rescission is not available in case of purchase of a vehicle. _________________ Procrastination is the enemy of your financial success

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