Are you able to return a car that you bought recently? Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our goal is to help you make better financial decisions by offering interactive financial calculators and tools that provide objective and original content. This allows users to conduct research and compare data for no cost and help you make financial decisions with confidence. Bankrate has agreements with issuers, including but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The deals that are displayed on this website are provided by companies who pay us. This compensation can affect the way and where products are displayed on this site, including for instance, the order in which they appear within the listing categories in the event that they are not permitted by law. This applies to our mortgage, home equity, and other home lending products. This compensation, however, does not influence the information we provide, or the reviews that you read on this site. We do not include the universe of companies or financial deals that might be open to you. Westend61/Getty Images
6 min read Published on January 31, 2023.
Written by Allison Martin Allison Martin Written by Allison Martin’s work started over 10 years prior to that as a digital content strategist, and she’s since been published in several leading financial publications, including The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com. Edited by Rhys Subitch Edited by Auto loans editor Rhys has been writing and editing for Bankrate since the end of 2021. They are committed to helping readers gain confidence to control their finances by providing precise, well-studied facts that break down complex topics into manageable bites. The Bankrate guarantee
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You have money questions. Bankrate can help. Our experts have been helping you master your money for over four decades. We are constantly striving to give our customers the right advice and tools needed to make it through life’s financial journey. Bankrate follows a strict , so you can trust that our content is truthful and accurate. Our award-winning editors and journalists produce honest and reliable content that will help you make the best financial decisions. The content we create by our editorial team is factual, objective and is not influenced by our advertisers. We’re transparent about how we are in a position to provide quality information, competitive rates and useful tools for our customers by describing how we earn money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for the promotion of sponsored goods andservices or by you clicking on certain hyperlinks on our website. So, this compensation can influence the manner, place and in what order items appear in listing categories in the event that they are not permitted by law. This is the case for our mortgage, home equity and other products for home loans. Other factors, such as our own website rules and whether a product is offered in your area or at your self-selected credit score range could also affect the way and place products are listed on this website. Although we try to offer a wide range offers, Bankrate does not include information about every credit or financial product or service. If you’ve purchased a brand-new or used car and have second thoughts about it you usually won’t be able to return the vehicle. The dealer who sold you the vehicle is generally not legally bound to return the car and give you a refund or exchange once you’ve signed the sales contract. There are exceptions to this rule. Some dealerships may allow you to return the vehicle under specific circumstances. If the vehicle has significant mechanical issues, the dealer may be legally required to accept a return. Still, it’s better to avoid the need to return your car in the first instance. Reasons to return your car Apart from buyer’s remorse reasons to return your car could be mechanical or financial issues. The dealership may be willing to assist customers who are not able to make payments. When you encounter mechanical problems the possibility of returning the vehicle to the dealer is contingent on how and the terms and terms of return policy. If you’ve been ripped off, and you think you were ripped off , you should consider meeting with the manager of the dealership. When you meet with the supervisor, make sure you bring evidence to prove that you were not cheated. For example, if think the dealer overcharged you provide proof of the vehicle’s fair market value from a reliable source (like Edmunds or Kelley Blue Book) to support your claim. Present your case to the manager in a calm manner. Remember that since you’ve already signed the contract, your options are limited in the event that the manager decides not to honor your request. It is also possible to contact your state attorney general’s office and discuss options. File a complaint with the Better Business Bureau. Employ an attorney to take action against the dealership. Leave a bad review on the dealership’s website. You can file a complaint with the state’s consumer protection agency and the Federal Trade Commission. Tips for banks
To research whether you’ve paid an unjust amount to determine if you’ve been charged unfairly, look up the worth of cars that have the same make, same model, and similar mileage on or .
Your car’s monthly payments are excessive If you’re planning to return the car due to monthly car payments are high, you’ll have harder time making the case to return the vehicle. The general manager of the dealership could claim that you ought to have decided whether you could manage the monthly payments prior to purchasing the car. It’s up to the dealership whether they will allow you to bring back the car and swap it out to a more affordable model. Talk to the salesperson who sold the car first. If that doesn’t work call the sales manager or the general manager of the dealership. Once you’ve exhausted those possibilities, you can look at different options for . your auto loan with lower interest rates or a more extended term could lower your monthly payment. Tips from Bankrate
Use this tool to find out how much you can save and to compare different loan options.
The car you own is a lemon. To build a case for returning a vehicle that does not work properly, you should first gather evidence of the mechanical issues you’ve encountered. You may need multiple trips to the service department of your dealer. Be sure to note your concerns in full on all repair requests. If the issue hasn’t been fixed, you may determine your car is a lemon – the vehicle is beyond repair. Because laws differ between states so you’ll need to conduct a thorough investigation to determine whether you’re able to claim a valid lemon law claim. In the majority of states, laws pertaining to lemons only apply to new vehicles with a serious defect impairing your ability to drive it. Other lemon law provisions that vary from state state include the length of time after purchasing the vehicle, its mileage and the number of times the dealership attempted to repair the vehicle. It is possible to research the laws in your state. It details each state’s requirements and the timeframe for returning a car in accordance with lemon laws. If you are successful in claiming, you’ll be able to secure a refund or comparable vehicle exchange. Seven states have lemon laws on used cars: Connecticut, California, Massachusetts, Minnesota, New Jersey, New Mexico and New York. Limitations apply, and these laws might not offer some relief for you in your circumstance. Tips for banks
You could be eligible for reimbursement for attorney costs if you employ an attorney to help make your case. Be sure to keep track of your legal fees as you go through the process.
You’ve changed your mind Dealers generally do not consider buyer’s regret to be persuasive. Few dealerships have a policy on returns. When you sign the sales contract, you’re responsible for paying the amount promised in the contract. Even though the FTC includes the “cooling-off rule” which is a law that gives you the right to cancel within three days a sale that you make at workplace, home or temporary location — a purchase of a car is one of the exceptions. If a dealer sells you a car in an in-between location, the rule still applies as long as they have a permanent address. Certain states also offer an “right to cancel” period which allows you to return the car within a certain time frame without incurring penalties or any damage to your credit score. The vehicle must be in the same condition that it was in when you purchased it. Other limitations often are also in place. Tips for banks
Try and avoid this scenario by doing your research ahead of time. Follow these for you before making a decision on a new vehicle.
Your dealer has a return-policy few dealerships have return policy. For example, has 30 days of return time. If you aren’t satisfied with the car, you can swap it out for one you like , or receive a refund. In addition, some dealerships offer exchange plans where you have a limited number of days to exchange the vehicle. Be aware that other stipulations could prevent you from being able to turn the vehicle in. If you are able to turn it in however, you’ll likely need make payments for any difference in the value currently and the value of the car currently worth. Bankrate tip
Always ask for a dealership’s return policy in written form. That way, you’ll understand the terms and conditions , and can withstand any attempt to reject your claim.
How can you avoid returning the car if you wish to avoid the hassle of returning a vehicle, you should properly prepare to purchase a car. This procedure . Review car reviews on the car you are considering on websites like . It’s an excellent idea to perform price research with Kelley Blue Book or Carfax, , create an estimate of your budget and then test-drive the vehicle. It’s equally crucial to research the dealership in advance by reviewing online reviews. Make use of sites such as BBB.com to make sure that the dealership has an excellent reputation and offer top customer service. Additionally, you’ll want to spend some time researching the background as well as the condition and history of the car you’re considering purchasing. Start by looking over history reports for the vehicle on sites such as Carfax or AutoCheck, where information on the car can be found by using its . If you’re buying a car from a dealer, you should ask the dealership to provide the car’s history to review. It’s also a good idea that you take the car to be inspected by an who can provide an unbiased review of the vehicle and any issues it may have. If the mechanic discovers mechanical problems, request the seller to cover the bill for repairs. Other options to return your car Can’t return your car? You have other options. Sell it. By to someone else it could be possible to get out of being stuck with a car that you do not like. You may not be able to recover the entire amount you paid the dealer since a vehicle depreciates as soon as it’s driven off the lot. The buyer is responsible for the difference between the dealership cost and the amount that you pay for your vehicle. Request a the repossession to be voluntary. If you can’t afford the monthly payment, you could call the lender and ask for the repossession to be voluntary. While this will reduce your monthly payments, you should be cautious before taking this decision. A lender can still notify the credit bureaus. The repossession can negatively impact your credit score for up to seven years. This makes it more expensive to obtain a future auto loan. You can refinance the auto loan. If your monthly installments are excessive, you can by extending the period or by negotiating the lowest interest rate. Although this is a step that will , the effects are only temporary. In fact, after just a few months of making payments, your credit score should improve or even increase. The most important thing to remember is that prior to you purchase a car make sure you do some research on the price of the cars you like and reviewing the return policy of the dealership and customer reviews. Failing to research could leave you stuck with the car you bought. Most of the time you aren’t able to return the car you purchased — the majority dealerships won’t allow the return of a vehicle. If you’re not able return a car however, there are other options to dispose of it. It is possible to sell it or make a lemon law claim under certain circumstances. In addition, if you suffer from buyer’s remorse because of large payments, but wish to keep your car, you can refinance the auto loan to reduce the amount of payments.
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Written by Allison Martin’s work started over 10 years ago when she was a digital content strategist and she’s since been published in several leading financial outlets such as The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com. Edited by Rhys Subitch Edited by Auto loans editor Rhys has been editing and writing for Bankrate from late 2021. They are committed to helping readers gain confidence to take control of their finances through providing clear, well-researched information that breaks down otherwise complex topics into digestible chunks.
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