I think legally, he is bound to the contract. On the other hand, he can definitely beg for mercy, and may even come out on top. I have a friend who, on a whim, decided she wanted a new car. She went to Ford, figured out the financing, and drove off in her new Explorer. 6 days later when buyers remorse set in, she went back to the dealer begging and crying. They told her they were very sorry, but she had signed the contract. She told them, in not so many words, that they would never see a payment. They contacted Ford credit, got the "ok" to undo the deal, and she went home having put 3k miles on a brand new car.. for free.
