Used Car Nightmare

I signed a contract for a used 2003 pick-up. I didn't finish paying my downpayment (will do so soon) so the dealer said I could not get my vehicle registration tags until it was paid, even though the law states I should have the tags regardless of any financial issues. It has been 25 business days since I signed the contract. Also after signing I discovered rust under the dash and seats and a Auto repairman stated the frame was bent (the truck had been in an accident). None of those things were disclosed by the salesman, ever. I did a Carfax report and it stated "no report of flood or accidents". I live in Texas. Is the dealer correct? What are my options or recourse?

What do you want to do, keep it or return it now?

[hlp1]

Since my last posting the Dealer informed me, no money-no tags. So I paid my remaining balance and recieved the tags on Sat March 24. A source told me that Texas law requires a spare tire when a vehicle is sold, to this day I have not recieved it. If I could give this truck back, I would. I went to the Kelly Blue Book and the truck appraised @ $12,995 (undamaged). When I received my contract, by mail, the contracted price is $19,595. This truck is very basic with no frills. I took the truck to the service department for a tune-up and the service manager told me when they recieve the vehicles off the rack they automatically do a bumper to bumper inspection. Well, why is it they didn't know the truck had been in an accident? My friends say the Dealer can always claim they knew nothing of the damage, so where does that leave me? I feel the Dealer took advantage of a single female and stuck me with a truck with a bent frame, which had been in a flood and an accident. What can I do?
P.S. The contract was rushed signed 2/13/07 and received 03/27/07 by mail. When I questioned why I didn't get a copy at signing I was told, "it was not completed".

You could try to ask for a partial refund saying that the item had major structural damage etc. from the beginning, and it has never been fixed properly--but it will not be an easy case and some courts may say you should have had it inspected etc. If they knew of the problem however and hid it from you they could be liable--that may be the best argument for you to make--