Hi,

i recently went to a honda dealership and i checked on a 2007 civic. deal is good though they have some hidden prices not included in their quote. i made a deal with them and they sent the documents to my cosignor(i dont have enough credit) for his final signature on the contract. But then my cosignor backed-out and doesnt want to sign anymore. what should i do? am i legally binded to buy the car? i dont have money. i depend on my cosignor.

thanks,
sirjune

 

If you don't have a co-signer you won't get a loan, and with no loan you won't get the car. They can't hold you to buying the car if you don't have the money.

 

Your not legally bound if they will not sell you the car without a co-signer. If the co-signer fails to sign, the deal is void. They can't sell you a car if you can't get the financing. Have you given the dealership a deposit? To be honest, if you did, and you can't qualify for the financing yourself, I believe they have to refund that deposit in full.

I don't think it matters if you have signed or not, the contact is no good if you a require a co-signer and can't get one.

 

no downpayment at all. i really want to have the car but my cosignor declines to sign. he said he thinks the price is overkill and he said we can get a much cheaper deal.

 

if he thinks you can get a cheaper deal, shop around and prove them wrong, or maybe you will find it for less