Can You Rescind an Auto Purchase - The Bills.com Blog

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Can You Rescind an Auto Purchase

Question: How long do I have after a purchase to return the vehicle because of breech of contract?

Answer: Generally speaking, there is no time period during which you can return a vehicle and cancel the sale. The existence of this right, called a “cooling-off period,” is a common misconception among American consumers. Once you sign a purchase contract with a dealer, you are basically stuck with the car,unless you can prove that the dealer intentionally misled you about some aspect of the contract or vehicle, in which case you can sue the dealership and finance company in an attempt to have the contract voided. In real life, it is almost impossible to prove that a car salesman lied to you about a vehicle, as you likely have no written evidence to back up your claim. This type of case is basically your word against the dealer’s word, which makes proving wrongdoing very difficult. In addition,

purchase agreements are usually written to favor the dealer, so establishing that the dealer breached the contract will likely be an uphill battle.

You will almost never find a dealership who will willing accept the return of a vehicle and the cancellation of a sale because the buyer alleges breach of contract or buyer’s remorse. If you believe that the dealership intentionally misled you about the terms of the contract or the condition of the vehicle, you can sue to have the contract voided,

but proving these allegations will be difficult. I encourage you to seek the advice of an attorney if you feel that you may have a case against a dealership for breach of contract. An attorney licensed in your state will be able to advise you of the strengths and weaknesses of you case, and whether filing a lawsuit is appropriate.

I hope that the information I have provided helps you Find. Learn. Save.

Best,
Bill
www.bills.com

Also, make sure to get a free financial health check-up with Bills IQ!

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Bill has answered all sorts of questions and has been able to provide those in need of financial guidance with helpful and valuable advice and information on their specific financial area of interest. If you need specific guidance on any of the above mentioned financial areas, feel free to Ask Bill your financial questions and get better informed. Also, make sure to get a free financial health check-up with Bills IQ!

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