Can you return a vehicle that you bought recently? Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make better financial decisions by providing you with interactive financial calculators and tools that provide objective and original content, by enabling users to conduct research and compare data for no cost - so that you can 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 are provided by companies that pay us. This compensation could affect how and when products are featured on this website, for example, for example, the order in which they may be listed within the categories of listing, except where prohibited by law. Our mortgage, home equity, and other home lending products. However, this compensation will affect the information we provide, or the reviews you read on this site. We do not contain the vast array of companies or financial offerings that could be open to you. Westend61/Getty Images
6 minutes read. Published 31 January 2023
Written by Allison Martin Written by Allison Martin's work began over 10 years ago as a digital content strategist, and she's since been featured in a variety of top financial media outlets, such as The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com. Editor: Rhys Subitch Edited by Auto loans editor Rhys has been editing and writing for Bankrate since late 2021. They are committed to helping readers gain confidence to take control of their finances by providing concise, well-researched and well-written facts that break down complicated topics into bite-sized pieces. The Bankrate guarantee
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If you have questions about money. Bankrate has the answers. Our experts have been helping you manage your finances for more than four years. We continually strive to provide consumers with the expert advice and tools needed to be successful throughout their financial journey. Bankrate adheres to strict standards , so you can trust that our content is truthful and accurate. Our award-winning editors and reporters produce honest and reliable content that will help you make the best financial decisions. The content we create by our editorial staff is objective, factual and uninfluenced through our sponsors. We're honest about the ways we're capable of bringing high-quality content, competitive rates and useful tools to you by explaining how we earn money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We receive compensation for placement of sponsored products or services, or by you clicking on certain links posted on our site. So, this compensation can affect the way, location and in what order products appear within listing categories and categories, unless it is prohibited by law. This is the case for our mortgage or home equity products, as well as other home loan products. Other factors, like our own proprietary website rules and whether a product is available in your area or at your personal credit score could also affect the way and place products are listed on this website. Although we try to offer the most diverse selection of products, Bankrate does not include specific information on 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 car. The dealer who sold you the vehicle is typically not legally bound to return the car and offer you a reimbursement or exchange after you've signed the sale contract. There are exceptions to this policy. Certain dealerships might permit you to return the vehicle under specific circumstances. If the car has major mechanical issues, the dealership could be obliged by law to allow a return. It's still better to avoid having to return the vehicle in the first place. The reasons to return your vehicle Besides buyer's remorse, possible reasons to return your car are mechanical or financial problems. Dealers may be willing to assist you in the event that you are unable to pay the bill. When you encounter mechanical problems and/or mechanical issues, the ability to return the car to the dealer will depend on how you do it and the terms and terms of vehicle 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 to discuss the matter, make sure you bring documentation to corroborate your claim that you were wronged. For example, if you think the dealer overcharged you show evidence of the car's fair market value from a reliable authority (like Edmunds or Kelley Blue Book) to support your claim. Make your argument clear to the manager with a calm and professional manner. Remember that since you've already signed the contract Your options aren't as wide if the manager chooses not to honor your request. You may also: Contact the office of your state attorney general for a discussion of your choices. You can file a complaint with the Better Business Bureau. Hire an attorney to take action against the dealership. Review a negative experience on the website of the dealership. Make a complaint to the state's consumer protection agency or the Federal Trade Commission. Bankrate tip
To find out if you've been charged an unjust amount, you can look up the price of vehicles with identical make, model, and the same mileage or .
Your car's monthly payments are too high If you're planning to return your car because your monthly car payment is too high, you'll have a greater difficulty in convincing the dealer to let you return the car. The dealership's general manager might claim that you should have figured out whether you are able to manage the monthly payments prior to buying the car. It's up to the dealership whether to allow you to bring back the car and swap it out for a cheaper model. Talk to 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. If you've exhausted your possibilities, you can look at alternative options to . the auto loan with a lower interest rate or a more extended term could reduce your monthly payments. A tip from Bankrate
Use this tool to find out how much money you could save and to compare different loan options.
Your car is a lemon. For a convincing case of returning a vehicle that does not work properly, you should first gather documentation showing the mechanical problems you've encountered. It may be necessary to make multiple trips to the dealership's service department. Make sure your complaints are recorded in detail on all repair requests. If the issue remains unsolved then you could conclude that your vehicle is a lemon, a vehicle beyond repair. Because the laws are different between states so you'll need to conduct a thorough investigation to determine if you are able to make a legitimate lemon law claim. In the majority of states, the lemon law apply to new vehicles with an issue that seriously affects your ability to drive. Other lemon law requirements that vary from state state include the length of time after purchasing the vehicle, the mileage of the vehicle and the number of times the dealership tried to fix the car. It is possible to research the laws of your state. It details each state's requirements and timeframes for returning a car under lemon laws. Upon a successful claim you'll have the option to secure a refund or a comparable exchange. There are only seven states that 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 much relief in your situation. Bankrate tip
You may be entitled to reimbursement of your attorney fees if you hire an attorney to help make your case. Keep the track of your legal costs as you go through the course of the case.
You changed your mind Dealers rarely consider buyer's remorse to be to be persuasive. Few dealerships have a policy on returns. Once you sign the sale contract, you're responsible for paying the note as promised. Although the FTC offers the "cooling-off rule" -- a rule which gives you 3 days in which to cancel a purchase that you make at office, home, or temporary location -- a purchase of a car is one of the exceptions. If a dealer sells you a vehicle at an in-between place, the rule applies to them as long as they have a permanent address. Certain states also offer an "right to cancel" period in which you can return the vehicle within a specified time without incurring any penalty or any damage to your credit score. However, the vehicle must be in the same condition as it was when you purchased it. Other restrictions may are also in place. Bankrate tip
Make sure you avoid this scenario by researching ahead of time. Follow these for you before making a decision on a new vehicle.
Your dealer has a return policy A few dealerships have return policies. For instance, it has a 30-day return policy. If you aren't happy with the car, you may exchange it for one that you like or get a full refund. Some dealerships offer exchange plans where you have a limited amount of time to exchange your vehicle. Be aware that other stipulations could prevent you from turning the vehicle in. If you are able to sell it however, you'll likely need to pay the difference between what the vehicle is worth today and what the vehicle is currently worth. Bankrate tip
Always ask for a dealership's return policy in written form. This way, you'll be aware of 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 difficult process of returning your car it is important to prepare for the purchase of a car. This is the process . Read car reviews about the car you are considering on websites like . It's also a good idea to perform price research by using Kelley Blue Book or Carfax as well as an estimate of your budget and then try the car. It's equally crucial to research dealerships in advance by looking up online reviews. Make use of sites such as BBB.com to ensure that dealerships have an excellent reputation and offer top customer service. Additionally, you'll want to conduct some research on the background as well as the condition and history of the particular car you're considering purchasing. You can begin by reviewing the history report for the vehicle through websites like Carfax or AutoCheck, where information on the car can be found by using the . If you're buying a vehicle from a dealer, you should ask the dealership to provide the car's history to review. It's an excellent idea to take the car for a thorough inspection by a professional who can provide an unbiased review of the vehicle and any issues it might have. If the mechanic notices mechanical issues, you can ask the seller to pay the cost of repairs. Other options to return your car You aren't able return your vehicle? You still have options. You can sell it. If you sell it to someone else it could be possible to escape being stuck with a vehicle you don't like. You might be unable to recover the full amount you paid the dealer because a car depreciates as soon as it's driven off the car lot. The buyer is responsible to pay an amount that is different between dealer cost and the amount that buyers pay to purchase the vehicle. You can request a the repossession to be voluntary. If you can't afford the monthly payments, you could call the lender and request the repossession to be voluntary. Even though this could make your monthly payments non-existent, you should consider this step. A lender can still notify the credit bureaus. Repossession negatively impacts the credit rating for as long as seven years, which makes it more costly 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. While taking this step will be beneficial, the results are temporary. In reality, after only 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 vehicle take some time to research the price of cars that you like, as well as reviewing the return policy of the dealership and car reviews. Failing to research could leave you with an unsatisfactory car. In the majority of cases, you can't return a car you purchased -- the majority dealerships won't allow it. If you're unable to return a vehicle, there are other ways to get rid of it. You can sell it or make a lemon law claim under certain conditions. Alternatively, if you have buyer's remorse due to excessive payments, but you want to keep the car you may refinance your auto loan to lower the cost of the loan.
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Allison Martin's work began over 10 years ago as an online content strategist and she's since been featured 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 writing and editing for Bankrate since the end of 2021. They are passionate about helping readers gain the confidence to control their finances with precise, well-studied information that break down complex topics into manageable bites.
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