There are instances where a person completes all the formalities of buying a car and then, at the last moment, reverses the purchasing decision. These people often ask, Can a car dealer cancel a contract?
It is worth mentioning that once you've signed a contract and test drove the vehicle, the dealer is under no legal obligation to take back the automobile. However, this doesn't mean that you are stuck in the situation; it all depends upon how you approach the situation.
First Off, the Law
Federal law has the provision of a three-day cooling-off period in case of several transactions. However, it only implies to businesses that don't have permanent establishments and practice door-to-door sales tactics. This provision certainly exempts auto dealers. There is no such federal law that protects buyers who experience buyer's remorse after buying a new car.
However, some states provide used car buyers the right to cancel their transaction, while others leave it up to the dealers to decide.
That being said, here are some tips and steps buyers can utilize to unwind a deal.
Dealership Return Policies
In case you are a notorious returner, it is advised that you shop at t a dealership that offers a limited return policy:
Carmax provides a 24-hour test drive along with a 30-day money-back guarantee.
Online car sellers such as Carvana and Vroom offer a seven-day test drive period before buyers can make their purchase decision.
Buyer's Remorse
Start by calling your concerned salesperson and plead your case in a professional manner. Your request will get passed on to a dealership's chain of command, starting from the sales manager, general manager, or owner.
Conclusion
Your chances of returning a car would be the highest if you purchased a used or certified pre-owned (CPO) car. If you purchased a new car, it technically becomes a used car the moment you drive it off the lot. Therefore, be extra careful before finalizing a particular car in the future.
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