Undo an Auto Purchase

[203bravo]

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@ccnewcc wrote:

Glenn Gary Glenn Ross?  lol.  3 business days..

Hmm, this is interesting.  I know it varies by state, but I thought that all states had some sort of buyers remorse return law, no?

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- Nope.. Most don't.

[coterotie]

Buyers remorse laws generally only apply to two types of transactions. 

1. Home mortgage/encumbrance transactions. Federal statute, applies to all 50 states
2. In-home sales.  Also known as a cooling off rule, applies to sales of $25 or more made via in-home solicitation, at work solicitation and in temporary business facilities, also a federal statute from FTC

Various states may have other rules, but these are federal thus universal.

[maiden_girl]

In most states, there is no cooling off period. But this really is a state specific question. In CA, you can purchase a cancellation contract but this is only for used cars. New cars, as other posters have said, you are most likely suck with this loan. I would suggest maybe doing a trade for a cheaper vehicle in the long run. $600 a month is a steep payment.

[6speed]

As far as I know (and I googled, though that's not always a comprehensive picture), only Massachusetts has a 3-day return rule for auto sales. Unless the GM or finance guys are feeling particularly nice, you're likely stuck with it. I remember reading the print on the contracts of cars I've bought before, all stating something about per-mile fees if the deal doesn't materialize as written. You may have a fighting chance; may as well call and try.