Driving for Dollars: Question on co-signer

Dear Terry,
I signed a contract to buy a used car, using my car as a trade-in. My fiance was a co-signer on my trade-in and was not aware of this transaction and doesn't feel like I made the best decision. I have not taken possession of the vehicle yet and would like to know if I can rescind the contract?
-- Ms. Regretful

Dear Ms. Regretful,
If your fiance was a co-signer on the vehicle you're trading -- and his name is on the title -- the dealership can't take possession of the car without his signature.

That means any deal that hinges on the trade-in can't be completed, so you can back out. But if only your name is on the title, and you've signed a contract, the dealership will try to enforce it. If you back out, you may lose any deposit you put down on the deal.

And one piece of personal advice: It's not a good way to start a marriage by buying a car without your spouse's approval.