Can you return a vehicle you purchased recently? Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make better financial choices by providing you with financial calculators and interactive tools, publishing original and objective content. We also allow users to conduct research and evaluate information for free – so that you can make financial decisions with confidence. Bankrate has partnerships with issuers, including but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make money The products that appear on this website are provided by companies that pay us. This compensation may impact how and where products appear on this website, for example, for example, the sequence in which they appear in the listing categories and other categories, unless prohibited by law. This applies to our loan products, such as mortgages and home equity and other home lending products. However, this compensation will not influence the content we publish or the reviews that you read on this site. We do not include the universe of companies or financial offers that may be open to you. Westend61/Getty Images
6 min read Read Published 31 January 2023
Written by Allison Martin Written by Allison Martin’s career began more than 10 years ago as a digital media 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. Editor: 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 control their finances through providing clear, well-researched information that breaks down otherwise complex topics into manageable bites. The Bankrate promises
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You have money questions. Bankrate has the answers. Our experts have been helping you manage your money for over four decades. We strive to continuously give our customers the right guidance and the tools necessary to succeed throughout life’s financial journey. Bankrate adheres to strict standards , so you can trust that our content is truthful and precise. Our award-winning editors and journalists create honest and accurate information to assist you in making the right financial choices. The content created by our editorial team is accurate, truthful, and not influenced from our advertising. We’re open about how we are able to bring quality content, competitive rates, and useful tools to you , by describing how we earn money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for the placement of sponsored products or services, or by you clicking on certain hyperlinks on our site. Therefore, this compensation may influence the manner, place and when products appear in listing categories and categories, unless it is prohibited by law. We also offer mortgage or home equity products, as well as other home lending products. Other elements, such as our own rules for our website and whether the product is available within your region or within your own personal credit score may also influence how and when products are featured on this site. We strive to provide an array of offers, Bankrate does not include information about every financial or credit 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 person who sold the car is usually not legally bound to take it back and issue you a refund or exchange after you’ve signed the contract. There are exceptions to this rule. Some dealerships will allow you to return the car in specific conditions. If the car is experiencing major mechanical issues, the dealer may be obliged by law to allow the return. It’s still better to avoid having to return your car in the first place. Reasons to return your car Besides buyer’s remorse, possible motives to return your vehicle are mechanical or financial problems. Dealers may offer to help you if you cannot pay the bill. With mechanical issues the possibility of returning the vehicle to the dealer depends on how you do it and the terms as well as conditions for the car return policy. If you’ve been ripped off, and you feel like the is the case, it’s worth a visit with the dealership manager. If you are meeting with the manager, make sure you bring documentation to corroborate your claim that you have been wronged. For example, if you believe the dealer overcharged, present proof of the vehicle’s fair market value from a reliable authoritative source (like Edmunds or Kelley Blue Book) to back up your argument. Make your argument clear to the manager calmly. Keep in mind that, having already signed the contract the options aren’t unlimited in the event that the manager decides not to comply with your request. You may also: Contact your state attorney general’s office and discuss options. Make a complaint to the Better Business Bureau. Employ an attorney to take action against the dealership. Leave a bad review on the dealership’s site. Make a complaint to the state’s consumer protection agency as well as the Federal Trade Commission. Tips for banks
To research whether you’ve paid an unfair amount You can check the value of cars with similar make, model, and the same mileage or .
The car’s payments are too high If you’re planning to return your car because your monthly car payments are high, you’ll have greater difficulty in convincing the dealer to let you return the car. The dealership’s general manager could claim that you should have determined whether you can afford the monthly payments before purchasing the vehicle. It’s the dealership’s decision whether to allow you to return the car and swap it out for a cheaper model. Contact the salesperson who sold the car first. If this doesn’t work, call the sales manager or the dealership’s general manager. After you’ve exhausted all options, look into other methods to . your auto loan with an interest rate that is lower or a longer term can lower your monthly payment. Tips from Bankrate
Utilize an application to determine how much you can save and compare different loan options.
The car you own is a lemon. If you want to build a case for returning a car that isn’t run properly, first gather documents detailing the mechanical issues that you’ve faced. It may be necessary to make multiple trips to the service department of your dealer. Be sure to note your concerns in detail on all repair requests. If the problem still remains unsolved, you may determine the car is a lemon – the vehicle is beyond repair. Since laws vary between states so you’ll need to conduct a thorough investigation to determine whether you’re able to be able to make a valid lemon law claim. In most states, lemon laws apply to new vehicles with an issue that seriously affects your ability to drive it. Other lemon law requirements that differ from state to state include the length of time after purchasing the vehicle, the mileage of the vehicle and the amount of times the dealership attempted to repair the vehicle. You can research the laws in your state on , which details each state’s requirements and timeline for returning a car under lemon laws. If you are successful in claiming you’ll be able to obtain a reimbursement or a comparable exchange. Seven states have lemon laws on used vehicles: Connecticut, California, Massachusetts, Minnesota, New Jersey, New Mexico and New York. Limitations apply, and these laws might not offer any relief for your circumstances. Bankrate tip
You may be entitled to reimbursement of your attorney costs if you employ an attorney to assist in your case. Make sure you keep track of your legal fees as you go through the process.
You’ve changed your mind Dealers generally do not consider buyer’s remorse to be persuasive. Only a handful of dealers have a return policy. When you sign the sales contract it is your responsibility to pay the note in accordance with the terms you’ve agreed to. Even though the FTC offers an “cooling-off rule” which is a law that gives you three days to cancel a sale which you made at your office, home, or temporary location — a vehicle purchase is one of its exceptions. If a dealership offers you a car at an in-between location, the rule still applies if they are in a permanent place. Certain states also offer a “right to cancel” period in which you can return the vehicle within a specified time without incurring any penalty or damage to your credit profile. However, the vehicle must be in the same condition that it was in when you bought it. Other limitations may also apply. Tip for Bankrate
Make sure you avoid this scenario by researching ahead of time. Follow these for you before making a decision on a new vehicle.
The dealer you are dealing with has a return policy A few dealerships have return policy. For example, has a 30-day return period. If you aren’t happy with 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 number of days to exchange the vehicle. Keep in mind that or other conditions could stop you from being able to turn the car into. If you are able to return it and sell it, you’ll have be responsible for the amount that is different between the value currently and the value of the car currently worth. Bankrate tip
Always ask for a dealership’s return policy in written form. So, you’ll know the terms and conditions , and can navigate any attempt to refuse your claim.
How to avoid returning your car to avoid the hassle of returning a car You must prepare properly to purchase the vehicle. This is the process . Check out reviews of the model and make you’re thinking about on sites like . It’s an excellent idea to conduct price research with Kelley Blue Book or Carfax and then create an estimated budget, and try the car. It’s equally crucial to research dealerships prior to purchase by reviewing online reviews. Use sites like BBB.com to ensure dealerships have a good reputation and exceptional customer service. In addition, you’ll need to research the background 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 is accessible using its . If you’re buying a car from a dealer the dealership to provide the history of the vehicle for you to review. It’s also a good idea to bring the vehicle to an expert person who will give an impartial assessment of the car and any issues it might have. If the mechanic discovers mechanical problems, request the seller to cover the bill for repairs. Options for returning the vehicle Can’t return your car? There are still options. Sell it. By to someone else you could be able to avoid being stuck with a car you don’t like. You may not be able to recoup the full amount you paid the dealer since a vehicle depreciates as soon as it’s driven off the lot. You’ll be on the hook for paying any difference in the dealer cost and the amount that buyers pay to purchase the vehicle. Ask for voluntary repossession. If you are unable to afford the monthly installments, you could call the lender and request an uninvolved repossession. Even though this could eliminate your monthly payments but you need to consider this decision. A lender is still able to be able to report the repossession to credit bureaus. Possessions can affect the credit rating for as long as seven years. This makes it more costly to get a new auto loan. Refinance your auto loan. If your monthly installments are excessive, you can by extending your time frame or getting an interest rate that is lower. When you do this, however have an effect, it is only temporary. In fact, after several months of payments, your credit score should be restored or improved. The main point is that before you purchase a vehicle, spend some time researching the price of cars you like , and then reading the dealership’s return policy and reviews of the car. In the absence of research, you could find you with a car. Most of the time you aren’t able to return a car you just bought — most dealerships won’t allow the return of a vehicle. If you’re unable to return a vehicle you’ve purchased, there are other methods to get rid of it. You can either sell it or file an action under the lemon law in certain conditions. If you are suffering 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 reduce your monthly costs.
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Allison Martin’s writing began over 10 years ago as an online content strategist and she’s since been featured in various top financial media 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 since late 2021. They are committed to helping readers gain confidence to manage their finances through providing clear, well-researched information that breaks down complicated topics into manageable bites.
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