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Obligations when Cancelling Boat Purchase Illinois

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  • Obligations when Cancelling Boat Purchase Illinois

    I am in Illinois and signed a sales agreement to purchase a boat in Missouri (from a Missouri boat dealer). I did this about 30 days ago and was expecting to take delivery around the first of July. At this point I can't find the sales agreement but wanted to ask whether I have the right to cancel the order at this point. I have put $2,000 down and expect to lose part or all of that money.

    My circumstances have changed dramatically during the past week and I can no longer afford to purchase the boat. Any advice you can offer would be appreciated.

  • #2
    You will want to ask for a copy of the sales agreement ("contract"). Your answer will probably be in there.
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    • #3
      Agreed, this is going to be determined by what's in the contract. We can only guess at what portion, if any, of the $2000 they are entitled to keep.

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