There Is No 3-Day Grace Period at the Dealership
With rising gas prices and devastating inflation , now is not the right time to buy a car . If you find it necessary to make such a large investment, you can take comfort in the belief that if you regret your purchase, you have at least a three-day window to return the car for a full refund, no questions asked. Unfortunately, the three-day grace period for returning a car is a myth. Here’s what you need to know about the 72 hours after buying a car and what you can do to avoid the car buyer’s remorse in the first place.
What is the three day grace period?
The three-day grace period is the real thing, also known as the Federal Trade Commission ‘s “Three-Day Reflection Rule”. It is intended to protect consumers from certain high-pressure sales tactics “used in your home, workplace, or dorm, or in a temporary sales location such as a hotel or motel room, convention center, convention center, or restaurant.”
Unfortunately, this protection does not apply to car dealerships . Here are some other circumstances not covered by this FTC rule:
- The sale is carried out entirely via the Internet, by mail or by telephone.
- Sales made after negotiations are completed at the seller’s permanent office, where the seller regularly sells the goods or services you have purchased.
- Real estate, insurance or securities.
- Purchases needed to meet the emergency.
Is it possible to return the car?
So it’s true that once you sign a contract for a new, used, or rental car, there’s likely to be no three-day grace period if you’re struck by buyer remorse. If you discover mechanical problems after leaving the lot, your ability to return your vehicle depends on how lemon laws work in your state , as well as the specific terms and conditions of your vehicle’s return policy.
As with any major purchase, document everything: if you discover you’ve been robbed, you’ll need the records to build your own case. Ultimately, you may contact the dealership manager, the Better Business Bureau, your state’s attorney general, or your state’s consumer protection agency.
Unfortunately, the main takeaway here is that returning a car is a painful uphill battle. In most cases, the dealer will not be legally obligated to pick up the car and provide you with a refund or exchange once you have signed the sales contract.
What to do before buying a car
The best way to avoid the headache of returning a car is to think carefully before making such a large purchase. Inspect the car yourself before signing anything. Take a test drive on real roads (not just in a parking lot): are there any leaks? Do you feel strange vibrations? Does it drive straight? If something is wrong, be careful.
Never let a salesperson rush you and never trust their car knowledge at face value. Be sure to ask these service questions before purchasing. And if you’re buying from an independent retailer, it might be worth seeking an expert opinion from a mechanic before driving away with your new car.
It’s important to do your research ahead of time and be decisive when it’s time to pull the trigger. As we said before , leaving as a negotiating tactic is no longer a smart move – by the time you get back, your car will likely have been sold to someone else.