Can you return a vehicle you purchased recently? Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our goal is to help you make better financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct your own research and evaluate information for free to help you make sound financial decisions. Bankrate has agreements with issuers including, but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The offers that appear on this website are provided by companies that pay us. This compensation may impact how and where products appear on the site, such as, for example, the sequence in which they be listed within the categories of listing, except where prohibited by law. Our loans, mortgages,, and other home loan products. However, this compensation will affect the information we publish, or the reviews that appear on this website. We do not cover the universe of companies or financial deals that might be accessible 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 began over 10 years ago as a digital media strategist, and she's since been featured in a variety of top financial publications, including 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 committed to helping readers gain the confidence to take control of their finances by providing precise, well-studied information that breaks down otherwise complicated topics into bite-sized pieces. The Bankrate promise
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You have money questions. Bankrate can help. Our experts have been helping you manage your money for over four years. We continually strive to provide consumers with the expert guidance and the tools necessary to succeed throughout life's financial journey. Bankrate adheres to a strict code of conduct standard of conduct, so you can rest assured that our information is trustworthy and accurate. Our award-winning editors, reporters and editors produce honest and reliable information to assist you in making the right financial choices. 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 capable of bringing high-quality information, competitive rates and useful tools for you , by describing how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We receive compensation for placement of sponsored products and, services, or through you clicking specific links on our website. Therefore, this compensation may affect the way, location and in what order products appear within listing categories, except where prohibited by law. We also offer mortgage home equity, mortgage and other home loan products. Other elements, such as our own rules for our website and whether or not a product is offered in the area you reside in or is within your self-selected credit score range can also impact how and where products appear on this website. While we strive to provide a wide range offers, Bankrate does not include specific information on each financial or credit item or service. If you've bought a brand new or used car , and are having second thoughts about it you usually won't be able to return the vehicle. The person who sold the car is usually not legally bound to take it back and give you a refund or exchange once you've signed the sales contract. There are exceptions to this law. Some dealerships will allow you to return the car in specific conditions. If the vehicle has significant mechanical issues, the dealer could be required by law to accept a return. However, it's best to avoid the need to return a car in the first place. The reasons to return your vehicle Other than buyer's remorse, other possible motives to return your vehicle are mechanical or financial problems. Dealers may be willing to work with customers who are not able to pay the bill. With mechanical issues the possibility of returning the car to the dealer depends on the conditions and conditions of the return policy. If you've been ripped off, and you think you were ripped off situation, you ought to consider a meeting with the dealer manager. If you do meet with the supervisor, be sure to bring evidence to prove that you were wronged. For instance, if you think the dealer overcharged you, present evidence of the car's fair market value from a reliable authority (like Edmunds or Kelley Blue Book) to prove your argument. Present your case to the manager calmly. Be aware that, since you've signed the contract the options aren't unlimited if the manager chooses not to respect your request. You can also contact your state attorney general's office for a discussion of your choices. File a complaint with the Better Business Bureau. Find an attorney to take action against the dealership. Leave a bad review on the website of the dealership. Make a complaint to your state's consumer protection agency and the Federal Trade Commission. Tips for banks
To find out if you've been charged an unfair amount to determine if you've been charged unfairly, look up the worth of cars that have identical make, model, and similar mileage on or .
Your car's monthly payments are excessive If you're looking to sell your vehicle because your monthly car payment is too high, you'll have greater difficulty in convincing the dealer to let you return the car. The general manager of the dealership could argue that you should have determined whether you could pay the monthly installments before purchasing the vehicle. It's the dealership's decision to decide if they want to let you bring back the car and trade it in for something more affordable. Talk to the salesperson who sold you your car in the first place. If this doesn't work, call the sales manager or the general manager of the dealership. Once you've exhausted those possibilities, you can look at other methods to . your auto loan with a lower interest rate or a longer time frame can lower your monthly payment. Tips from Bankrate
Utilize an application to determine the amount you could save, and then compare various loan options.
Your car is a lemon For a convincing case of returning a car that isn't perform as it should, you must first collect evidence of the mechanical issues you've encountered. It is possible to require multiple visits to the dealer's service department. Make sure your complaints are recorded with full detail on all repair requests. If the issue remains unsolved, you may determine your vehicle is a lemon -- a vehicle beyond repair. Since laws vary between states, you'll have to research to see whether you can be able to make a valid claim under the lemon law. In most states, laws pertaining to lemons apply to vehicles that have an issue that seriously affects your ability to drive. Other lemon law provisions that vary from state to state include the length of time that you have to wait after buying the vehicle, its mileage and the number of times the dealership tried to fix the car. You can research the laws of your state on , which details each state's requirements and the timeframe for returning a car in accordance with lemon laws. Upon a successful claim you'll be able to secure a refund or similar exchange. Only seven states have lemon laws on used cars: Connecticut, California, Massachusetts, Minnesota, New Jersey, New Mexico and New York. Limitations apply, and these laws will not give any relief for your circumstances. Bankrate tip
You could be eligible for reimbursement for attorney fees if you hire an attorney to represent you in your case. Make sure you keep the track of your legal costs throughout the course of your case.
You've changed your mind Dealers do not generally consider buyer's remorse to be to be persuasive. Few dealerships have a return policy. Once you sign the sales contract and you're responsible for the payment of the note as promised. While the FTC has an "cooling-off rule" that states where you have the right to cancel within three days a sale made at your home, workplace or seller's temporary address the purchase of a vehicle is among its exceptions. If a dealer sells you a car at an in-between place, the rule applies as long as they have a permanent location. Some states also have an "right to cancel" period that lets you return the vehicle within a specified time without incurring any penalty or the damage to your credit report. The vehicle has to be used in the same way as when you purchased it. Other limitations often are also in place. Tip for Bankrate
Try and avoid this scenario by conducting research prior to the time. Use these tips before signing off on a brand new vehicle.
Your dealer has a return policy A few dealers have return policies. For example, has 30 days of return time. If you aren't satisfied with the car, you may exchange it for one you would like or request a refund. In addition, some dealerships offer exchange programs in which you are given a certain period of time to exchange your vehicle. Remember that other restrictions could keep you from being able to turn the vehicle in. If you're able to turn it in, you will likely have to pay the difference between the current value and what the vehicle is currently worth. Bankrate tip
Always ask for a dealership's return policy in written form. That way, you'll understand the conditions and terms of the policy and will be able to navigate 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 is the process . Read car reviews about the model and make you're thinking about on sites like . It's an excellent idea to conduct a price analysis with Kelley Blue Book or Carfax, , create a budget to see and drive the vehicle. It's also important to research dealerships in advance by reading online reviews. Make use of sites such as BBB.com to ensure dealerships have a good reputation and exceptional customer service. Additionally, you'll want to research the history and condition of the vehicle you're thinking of purchasing. Start by looking over history reports for the vehicle via sites like Carfax or AutoCheck and the information about the car can be found using its . If you're buying a car from a dealer the dealer for the history of the vehicle for you to review. It's an excellent idea to take the car to an expert independent review of the vehicle and any issues it might have. If the mechanic notices mechanical problems, ask the seller to cover the bill for repairs. Options for returning the car Can't return your car? You still have options. You can sell the car. If you sell it to someone else you could be able to escape having a car that you do not like. You might be unable to recoup the full amount you paid to the dealer because a car depreciates as soon as it's driven off the lot. You'll be responsible for paying an amount that is different between dealership price and the amount you pay for your vehicle. Ask for the repossession to be voluntary. If you're unable to make the monthly installments You can contact the lender and ask for a voluntary repossession. While this will make your monthly payments non-existent, you should think twice before taking this decision. A lender can still notify the credit bureaus. The repossession can negatively impact the credit rating for as long as seven years, making it more expensive to take out a future auto loan. Refinance your auto loan. If your monthly payments are too high, you can by extending your term or securing a lower interest rate. When you do this, however have an effect, it is only temporary. In fact, after some months of payments your credit score is likely to be restored or improved. The main point is that before you purchase a car make sure you do some research on the price of the cars that you like, as well as studying the dealer's return policy and car reviews. If you don't do your homework, it could leave you stuck with the car you bought. In most cases it's impossible to return a vehicle you've purchased recently -- the majority of dealerships won't allow the return of a vehicle. If you're not able return a vehicle however, there are other options to dispose of it. You can sell it or submit a lemon law claim under certain conditions. In addition, if you suffer from buyer's remorse as a result of the excessive payments, but you want to keep the car you can refinance the auto loan to lower the payments.
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Allison Martin's writing began more than 10 years ago as an online content strategist and she's since been published in a variety of top 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 editing and writing for Bankrate from late 2021. They are committed to helping readers gain the confidence to take control of their finances with clear, well-researched information that break down complex subjects into bite-sized pieces.
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