Financing a car is a big step, so it’s normal to feel nervous during it. That said, whether you can back out of the car loan will depend on where you are in the process.
If you haven’t signed the finance agreement or finalized the sale of your Honda Civic
, you may be able to return the car or negotiate the terms. While uncommon, some dealers practice spot-delivery. Spot delivery allows you to take the car home before your financing is finalized. If financing doesn’t work out, you’ll typically need to return the car or find another lender.
However, if you’ve already signed the sales agreement, you officially own the Civic, even if you haven’t heard from the bank yet. Even so, you still have options if you’re not happy with your loan.
One of the easiest ways to get out of a loan you’re unhappy with is refinancing. Refinancing allows you to shop around with other lenders to find a better agreement. In most cases, refinancing can help reduce your interest rate or lower your monthly payments.
If you’d like help searching for refinancing options, consider using the Jerry
app. Jerry removes the hassle by giving you one app that instantly connects you with top companies to find the best option for you. Before deciding what to do next, call the dealership or check your finance paperwork. Knowing where you stand in the loan process can help guide your next steps and make the process less stressful.