I want to return my car that I just bought less than 3 days
- Thread Starter sfelipe9
- Start date
adjusterjack
Super Moderator
Yes, it's possible.
But you don't just get to cancel the deal and go back to where you were before you bought the car.
You will lose a great deal of money.
The dealer will give you a lot less than you paid for it, probably less than what you owe on it.
Worse, it could end up a voluntary repo and trash your credit.
But you don't just get to cancel the deal and go back to where you were before you bought the car.
You will lose a great deal of money.
The dealer will give you a lot less than you paid for it, probably less than what you owe on it.
Worse, it could end up a voluntary repo and trash your credit.
d1amund
Member
Dealers unwind deals all the time. Usually if they admit fault (gross misrepresentation, wrong equipment supplied, etc) or the contract is deemed invalid (rare because they are typically all form contracts). Whether or not you will walk away unscathed financially is another matter. Contact the GM and see what they say. Typically "I changed my mind" isn't going to benefit you.
adjusterjack
Super Moderator
Yes.
Even if the deal was made 24 minutes ago, or even 24 seconds, or 24 nanoseconds ago.
As soon as you signed the contract and wrote the check, it was a done deal.
Highwayman
Well-Known Member
What made you change your mind???
The tool deal , price of the car, the car, 72 months, idk if I can do it
I don't know what I had in my mind,
army judge
Super Moderator
As someone suggested, take the car back to the dealer.
Ask to speak with the General Manager.
Be truthful about your reasons for wishing to rescind the contract.
You are worried that you won't be able to pay the note for six years.
Ask the dealer (GM) how much it'll cost for them to allow you to rescind the contract.
In most cases it's possible to get out of the deal.
However, it'll cost you something to do that.
The dealer doesn't ave to help you get out of the deal.
That's why you must be cool, calm, polite, civil, and present a logical reason as why you can't honr the contract.
Here are your car buyer RIGHTS in CA, new and used car buyers:
Car Buyer's Bill of Rights - California Department of Consumer Affairs
Highwayman
Well-Known Member
The desire here is probably to use the federal 3 day cooling off period. It doesn't appear to apply to you.
Buyer's Remorse: When the FTC's Cooling-Off Rule May Help
Let's take a look at the list of contract cancellation rights under the state of California:
Consumer Transactions with Statutory Contract Cancellation Rights: Legal Guide K-6
Automobile Sales and Leases -- There is no statutory cancellation period for automobile sales or leases.
Now there is an ability to purchase cooling off periods contractually but it doesn't appear that this was purchased in the contract. A couple of things to keep in mind:
1) Was everything done properly? Was anything misrepresented?
2) Is there any leverage you might have, e.g. you're in dire financial straights and your loan should probably not have been granted and you're considering bankruptcy, etc.
3) Set your expectations. I don't know if buying your way out of the deal will make sense since your loss (and the dealer's) will be significant once a car is deemed used.
Pleading for mercy and being courteous isn't going to convince a dealer to take a serious loss on a vehicle they have just sold. Unless you have leverage, proof of wrongdoing or some other reason, expect the dealer to stay firm or be prepared to have to make a difficult decision.
Buyer's Remorse: When the FTC's Cooling-Off Rule May Help
Let's take a look at the list of contract cancellation rights under the state of California:
Consumer Transactions with Statutory Contract Cancellation Rights: Legal Guide K-6
Automobile Sales and Leases -- There is no statutory cancellation period for automobile sales or leases.
Now there is an ability to purchase cooling off periods contractually but it doesn't appear that this was purchased in the contract. A couple of things to keep in mind:
1) Was everything done properly? Was anything misrepresented?
2) Is there any leverage you might have, e.g. you're in dire financial straights and your loan should probably not have been granted and you're considering bankruptcy, etc.
3) Set your expectations. I don't know if buying your way out of the deal will make sense since your loss (and the dealer's) will be significant once a car is deemed used.
Pleading for mercy and being courteous isn't going to convince a dealer to take a serious loss on a vehicle they have just sold. Unless you have leverage, proof of wrongdoing or some other reason, expect the dealer to stay firm or be prepared to have to make a difficult decision.
adjusterjack
Super Moderator
That's called "buyer's remorse" and is NOT grounds for cancelling the contract and returning the car.
I seriously doubt (can almost guarantee) that the dealer isn't going to give you the time of day unless you are willing to put a couple of thousand in his pocket as an incentive to buy the "used" car back.
You can, of course, just default on the loan (bad idea) and the lender (not the dealer) will come and repo the car, sell it for less than you owe, trash your credit, and come after you for the balance.
I'm afraid that you are just stuck with the consequences of a bad decision.
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