SHOPSMART AUTOS – CUSTOMER INFORMATION – FEBRUARY 17, 2021
CANCELLING A VEHICLE CONTRACT? There are certain things you can do if you feel you’ve been a victim of fraud in the car buying process and there are some steps you should take in the event of fraud, starting with filing a complaint with the Attorney General of your state. If there was no fraudulent activity and you did not pay for or have the ability to purchase a contract cancellation option, your options will dwindle greatly. Pocket Senselists a few things you can look for
in that case:
- Study the fine print on your car buying contract. Look specifically for a return policy. Some dealerships include one, but they are not common for new vehicles.
- If you can’t find anything on the contract, check in with your state’s Attorney General’s office to see if there are any car buying protections in your state.
- Call the dealer and explain your situation and why you’d like to return it. They may be willing to work with you, but it’s not granted and they are under no obligation to actually do so.
- If they still aren’t interested in working with you, you can try to offer them your deposit. This could sway the dealer’s position at the cost of your deposit, but you would be out of the contract. Weigh your options carefully.
- A dealership might be more apt to work with you if you are interested in another vehicle they have as well.
Canceling a New Car Purchase Agreement With a Dealership
Car buying contracts are pretty tight and per the Consumer Law Group,
canceling one once you sign on the dotted line is pretty difficult
. There are a few conditions that could lead to a car buying contract being canceled. One such event is called a yo-yo sale. This is when the dealership gives you the keys and has you sign the paperwork prior to having final approval on the loan terms from a lender. If the lender doesn’t want to accept the deal, the contract is canceled. You may be able to return your vehicle if the dealership misled you or didn’t disclose the full history of the vehicle. Other things that would be in your favor would be if the vehicle failed a safety inspection or if there was an undisclosed mechanical issue with the vehicle.
Returning a Used Car to the Dealer
Consumer Action Law Group discusses returning a used car to a dealership and states returning a new car to the dealership is, in most cases,
a lot harder to do than returning a used vehicle
. Dealerships that specialize in
used car sales
may even advertise friendly return policies to attract potential buyers. In order to return a used vehicle, there are usually a few thresholds you need to meet:
- It likely needs to fall under a certain amount of miles since it was bought.
- It needs to be in the same condition.
- You need your copies of the paperwork you signed originally.
- The car should be free of tickets or liens.
more you know ahead of time
can help you in the long run if you think you may want to return a vehicle purchase.
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