California Codes, Civil Code - CIV, Division 3 — Obligations, Part 4 — Obligations Arising from Particular Transactions, Title 14 — Lien, Chapter 2b — Automobile Sales Finance Act, Section 2982.9
In the event a buyer obligates himself to purchase, or receive possession of, a motor vehicle pursuant to a contract or purchase order, and the seller knows that the buyer intends to obtain financing from a third party without the assistance of the seller, and the buyer is unable to obtain such financing, the contract or purchase order shall be deemed rescinded and all consideration thereupon shall be returned by the respective parties without demand.
Notes
Requires a motor-vehicle purchase contract or order to be treated as rescinded, with each party returning the consideration received, when the seller knows the buyer intends to obtain third-party financing without the seller’s assistance and the buyer cannot obtain that financing. No demand is required before the respective returns.
Use as reference
Lexinter.net | California Code, Civil Code - CIV § 2982.9 | https://laws.lexinter.net/codes/california/civil-code/division-3/part-4/title-14/chapter-2b/section-2982-9