Can you return a vehicle that you bought recently? Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make better financial decisions by offering interactive tools and financial calculators as well as publishing original and objective content, by enabling you to conduct research and compare information for free to help you make sound financial decisions. Bankrate has partnerships with issuers, including but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The deals that are displayed on this website come from companies that compensate us. This compensation may impact how and where products appear on the site, such as such things as the order in which they appear in the listing categories in the event that they are not permitted by law. This applies to our mortgage, home equity, and other home loan products. But this compensation does have no impact on the information we publish, or the reviews you read on this site. We do not cover the entire universe of businesses or financial offerings that could be open to you. Westend61/Getty Images
6 min read Published January 31, 2023
Written by Allison Martin Written by Allison Martin’s work began over 10 years ago as a digital content strategist. She’s been published in several leading financial media outlets, such as The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com. Written by Rhys Subitch Edited by Auto loans editor Rhys has been writing and editing for Bankrate since the end of 2021. They are dedicated to helping readers gain confidence to manage their finances with concise, well-researched and well-written facts that break down complicated topics into bite-sized pieces. The Bankrate promise
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If you have questions about money. Bankrate can help. Our experts have been helping you manage your money for over four decades. We strive to continuously provide our readers with the professional advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is truthful and reliable. Our award-winning editors and reporters provide honest and trustworthy content to help you make the right financial decisions. The content we create by our editorial team is accurate, truthful and uninfluenced from our advertising. We’re transparent about the ways we’re in a position to provide quality information, competitive rates and useful tools to you , by describing how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We receive compensation for the promotion of sponsored goods andservices or through you clicking specific links on our site. So, this compensation can affect the way, location and in what order products appear within listing categories, except where prohibited by law. This is the case for our mortgage, home equity and other home lending products. Other elements, such as our own website rules and whether a product is available in your area or at your personal credit score can also impact how and where products appear on this website. We strive to provide the most diverse selection of products, Bankrate does not include information about each financial or credit item or service. If you’ve purchased a new or used vehicle and you have second thoughts about it, you’re not likely to return the car. The person who sold the vehicle is typically not legally required to return the car and give you a refund or exchange once you’ve signed the sales contract. There are a few exceptions to this policy. Some dealerships may allow you to return the car in specific conditions. If the car is experiencing major mechanical issues, the dealer could be legally required to accept the return. It’s still better to avoid having to return a vehicle in the first place. There are many reasons to return your car. Other than buyer’s remorse, other possible reasons to return your car include financial or mechanical issues. Dealers might be willing to work with customers who are not able to pay the bill. If you have mechanical issues and/or mechanical issues, the ability to return the vehicle to the dealer depends on the conditions and terms of car return policy. If you’ve been ripped off, and you believe that this is the case situation, you ought to consider a meeting with the manager of the dealership. When you meet with the manager, be sure to bring documents to support your claim that you have been wronged. For example, if believe that the dealer was overcharged, present evidence of the vehicle’s fair market value to a credible source (like Edmunds or Kelley Blue Book) to back up your case. Make your argument clear to the manager in a calm manner. Keep in mind that, having already signed the contract Your options aren’t as wide in the event that the manager decides not to comply with your request. You can also contact the office of your state attorney general for a discussion of your choices. Make a complaint to the Better Business Bureau. Hire an attorney to sue the dealership. Leave a bad review on the dealership’s website. File a complaint with your state’s consumer protection agency as well as the Federal Trade Commission. Tips for banks
To determine if you’ve paid an unfair amount, you can look up the price of vehicles with the same make, same model and similar mileage on or .
Your car payments are too high If you’re planning to return your vehicle because your monthly car payments are too excessive, you’ll face more difficult time convincing the dealer to let you return the vehicle. The manager at the dealership’s general office may claim that you should have determined whether you are able to manage the monthly payments prior to buying the vehicle. It’s up to the dealer whether to allow you to return the vehicle and trade it in to a more affordable model. Speak with the salesperson who sold your car in the first place. If that doesn’t work, get in touch with the sales manager, or the dealership’s general manager. Once you’ve exhausted those alternatives, consider other methods to . your auto loan with a lower interest rate or a longer term can lower your monthly payment. Tips from Bankrate
Utilize an application to determine how much you can save, and then compare various loan options.
The car you own is a lemon. If you want to build a case for returning a car that doesn’t perform as it should, you must first collect documentation showing the mechanical problems that you’ve faced. It may be necessary to make multiple trips to the service department of your dealer. Ensure your complaints are noted in detail on all repair orders. If the issue hasn’t been fixed, you may determine your vehicle is a lemon — the vehicle is beyond repair. Because the laws are different from state to state, you’ll have to research to determine if you are able to make a legitimate lemon law claim. In the majority of states, laws pertaining to lemons only apply to vehicles that have an issue that seriously affects your ability to drive it. Other lemon law provisions that differ from state to state include the length of time from the time you purchased the vehicle, the mileage of the vehicle and the number of times the dealership tried to fix the vehicle. You can research the laws in your state, and it details each state’s requirements and timeline for returning a car in accordance with lemon laws. After a successful claim, you’ll be able to obtain a reimbursement or similar exchange. Seven states have lemon laws applicable to used cars: Connecticut, California, Massachusetts, Minnesota, New Jersey, New Mexico and New York. The laws are subject to limitations and the laws might not offer any relief for your circumstances. Bankrate tip
You could be entitled to reimbursement of your attorney expenses if you engage an attorney to represent you in your case. Keep track of your legal fees throughout the process.
You’ve changed your mind Dealers do not generally find buyer’s remorse convincing. Very few dealerships have a policy on returns. After you’ve signed the sale contract, you’re responsible for paying the amount promised in the contract. While the FTC has the “cooling-off rule” which is a law that gives you three days to cancel an agreement that you make at office, home, or temporary location — a vehicle purchase is one of the exceptions. If a dealership offers you a car in an uncontained location, the rule still applies as long as they are in a permanent place. Certain states also offer an “right to cancel” period in which you can return the car within a certain time frame without incurring penalties or damage to your credit profile. However, the vehicle has to be used in the same way as it was when you bought it. Other limitations may also apply. Tips for banks
Avoid this situation by conducting research prior to the time. Use these tips before making a decision on a new vehicle.
Your dealer has a return policy few dealerships have return policy. For example, they have 30 days of return time. If you don’t like the car, you can exchange it for one that you like , or receive the money back. In addition, some dealerships offer exchange programs in which you are given a certain period of time to exchange the vehicle. Remember that other stipulations could prevent you from being able to turn the car into. If you can return it and sell it, you’ll have make payments for any difference in what the vehicle is worth today and what the car is currently worth. Bankrate tip
Always request a dealership’s refund policy in writing. That way, you’ll understand the terms and conditions , and will be able to navigate any attempt to refuse your claim.
How can you avoid returning a car If you want to avoid the troublesome process of returning a vehicle You must prepare properly to purchase a car. This is the process . Check out reviews of the model and make you’re considering on sites like . It’s recommended to conduct a price analysis using Kelley Blue Book or Carfax as well as an estimated budget, and test-drive the vehicle. It’s equally crucial to research dealerships prior to purchase by reading online reviews. Use sites like BBB.com to ensure that dealerships have an excellent reputation and offer top customer service. Finally, you’ll also want to research the history and the state of repair of the specific car you’re considering purchasing. It is possible to begin by looking up the history of the car via sites like Carfax or AutoCheck and the information about the vehicle can be accessed using its . If you’re buying a vehicle from a dealer the dealer to provide the history of the vehicle for you to review. It’s an excellent idea to bring the vehicle to an expert independent evaluation of the vehicle and any problems it might have. If the mechanic notices mechanical problems, request the seller to cover the repair costs. Alternatives to returning your vehicle You aren’t able return your vehicle? There are still alternatives. Sell the car. Through a third party, you might be able to get out of having a car that you do not like. You may not be able to recover the entire amount you paid to the dealer since a vehicle depreciates once it’s driven off the lot. You’ll be responsible to pay any difference in the dealer price and the amount you pay for your vehicle. Ask for the repossession to be voluntary. If you’re unable to make the monthly payment then you can call the lender and ask for an uninvolved repossession. Even though this could reduce your monthly payments, you should be cautious before taking this step. A lender is still able to notify the credit bureaus. The repossession can negatively impact your score on credit for up to 7 years. This makes it more costly to get a new auto loan. Consider refinancing your car loan. If your monthly payment is excessive, you can extend your loan term or securing an interest rate that is lower. Although this is a step that will be beneficial, the results are temporary. In reality, after only some months of payments your credit score is likely to rebound or even improv e. The main point is that before you purchase a vehicle make sure you do some research on the price of the cars you like , and then reading the dealership’s return policy and customer reviews. If you don’t do your homework, it could leave you stuck with an unsatisfactory car. Most of the time, you can’t return a vehicle you’ve just bought — most dealerships will not allow the return of a vehicle. If you’re not able to return a vehicle you’ve purchased, there are other methods to get rid of it. You can sell it or make an action under the lemon law in certain conditions. If you are suffering from buyer’s remorse as a result of the large payments, but wish to keep your car, you can refinance the auto loan to reduce the amount of costs.
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Allison Martin’s writing began over 10 years ago when she was an online 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. The article was edited by Rhys Subitch Edited by Auto loans editor Rhys has been editing and writing for Bankrate from late 2021. They are dedicated to helping readers gain the confidence to take control of their finances through providing precise, well-studied information that breaks down otherwise complex topics into manageable bites.
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