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Is It Possible To Back Out Of A Car Deal After Signing A Contract?

by Andrew Richardson allenstewart

Millions of used and new cars are purchased every year. But many people get after-thoughts after making the purchase. You may notice a few days after buying a car that that vehicle isn't behaving the way you want it to, or you might discover some mechanical problems.

Often, returning a new car becomes a bigger challenge than buying one. It's possible to cancel a car dealership contract under a few circumstances, but it involves much paperwork. The decision to cancel the contract is usually at the seller's discretion.

If you have second thoughts about your new car and think, "Can I back out of a car deal after signing a bill of sale?" then read on to know the options available to you.

Don't Miss The Fine Print

Generally, most dealerships accept a request for returns or exchanges only if there are some serious problems with the car. You may have heard of a "cooling off" period for vehicle sales. However, it is not true. As per the Federal Trade Commission, dealers are not legally obligated to give you three days to opt-out of the contract.

So, it is imperative to read the contract's fine print to understand the dealership's return policy. Most car deals are very rigid and do not allow the buyer the right to rescind. 

Read Up State Laws

Check with the attorney general's office if any law for vehicle purchase exists. Some states have laws existing that protect car-buying consumers, even if there are no specific federal laws requiring auto dealers to rescind the contract.

Lemon laws exist that state that dealers have to accept a car with mechanical defects that compromise the car's performance or safety. These laws vary from state to state and apply only to new cars. 

Negotiate Or Request

If neither the contract nor the laws allow you the options to rescind the contract, the dealership is under no obligation to accept the return of your car. In certain circumstances, the only options you have are to keep the car or sell it. 

Another way is to negotiate or request with the car dealership. You can offer to forfeit the deposit money, which might provide them with an incentive to influence their decision. However, the decision to cancel the contract is at the discretion of the auto dealer. 

In conclusion, canceling a contract for a car deal can be tricky. It is vital to know all the options ahead of time if you want to return a car after signing a bill of sale. For assistance with your car deal contract and legal options you have, please get in touch with the attorneys at Allen Stewart.

Andrew Richardson is the author of this Article. To know more about Can you rollback a digital odometer please visit our website: allenstewart.com


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About Andrew Richardson Innovator   allenstewart

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Joined APSense since, May 14th, 2020, From Florida, United States.

Created on Dec 27th 2021 04:16. Viewed 58 times.

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