If no warranty applies (or exists, as with many used cars), you can still lobby to have the car fixed. In most cases, it’s up to dealer policies (unless otherwise required by law). By Staff Writer Last Updated Mar 30, 2020 7:56:48 AM ET. If this is the case returning the car may be your only option. You both signed a form stating they would deliver you good title and possession of a specific car in exchange for which you agreed to pay them some amount of money. And depending on the loan contract, you may be able to return a financed car and avoid credit damage. Even if the seller of a used car is trustworthy and provides a comprehensive maintenance history, there are still many opportunities for malfunctions, Carfax. For example, Carvana has a 7-day, no questions asked guarantee. If you’re unable to make your car payments, a voluntary repossession should be your last resort. It's understood that a used car from a private party is sold as is,whether or not it's stated in the ad (although it is almost always stated in the ad). The purchase of a used car can be a high-cost consumer transaction. "Used-Car Lemon Laws." For an online, full copy of Title 39, visit the state legislature's website. The offers for financial products you see on our platform come from companies who pay us. If it’s too late for that, being able to return the car typically depends on the dealer’s policies. You may be able to reduce your monthly payment with a lower interest rate or longer term. And if you sell the car for less than what you owe on the loan, you’ll have to pay the difference. But you’re still responsible for paying the difference between what the lender is able to sell the car for and what you owe on the loan. Whether you're buying from a private party or a dealer, a used car usually cannot be returned. Of course, the offers on our platform don't represent all financial products out there, but our goal is to show you as many great options as we can. Your actual rate depends upon credit score, loan amount, loan term, and credit usage and history, and will be agreed upon between you and the lender. Upon the car's return, the dealer has 10 days to either fix the … Some car dealers such as CarMax and online marketplaces like Carvana and Vroom have policies that allow people to return cars they’ve bought, under certain conditions. If you decide you no longer want the car, or you can’t afford it, you can sell your vehicle or trade it in for a less expensive vehicle. Shoppers who buy used cars, on the other hand, most often have to buy them “as is” without any warranty coverage. When you miss a payment, the dealer can repossess the car, sell it for less than you owe, and sue you for the difference. Under Some Circumstances, a Dealer Might Take a Car Back, but Don't Count on It It's the morning after your big new or used car purchase and you wake up with a knot in your gut. That's why we provide features like your Approval Odds and savings estimates. June 2011. If you have a problem with a used car you bought from a Wisconsin dealership, Wisconsin Department of Transportation's (WisDOT) Dealer & Agent Section may be able to help. If you’re buying from a private seller online, you have the same rights as if buying in person. It’s a good idea to understand the policy before you purchase. If it's not, return it before the cooling-off period expires. Image: Smiling man driving car that was financed with Acura Financial Services, Image: Man looking at laptop, researching an auto loan from carloancom, Image: Woman holding a cup of coffee in a dimly lit room, wondering how to get a car back after repossession, Image: Close-up of man's hands on a car steering wheel, Image: Woman driving a car with her partner in the front seat, smiling as they discuss their Metromile Insurance coverage, do your homework before you start car shopping. 2) … If you finance a vehicle that you can't afford, you'll still have to pay for it. But you’ll have to return the car within 14 days. Whether you're buying a new car or a used car, a little research up front can help ensure that you get the best value for your money. The total amount repayable will be $6,767.64. All Rights Reserved. Credit Karma® is a registered trademark of Credit Karma, LLC. If you bought a used car from a dealer, you have the right to expect it to meet the criteria listed above. For example, Val-U-Line® has a No Questions Asked Return Policy that lets you return the used car you purchased from us within three days or 300 miles. If the dealer doesn’t have a return policy, and it’s not required by law, deciding whether it accepts a return on an individual basis is up to it. "Buying Used Cars 'As Is.'" If you gave a $2,000 down payment and a car as a trade-in, the car dealer must give you back both the $2,000 and the trade-in when you return the car you purchased. Return a new car purchased in Nevada for a full refund if the dealer has fraudulently misrepresented the deal. How Many Days Do You Have to Return a Car in the State of Texas? Editorial Note: Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Beware of Odometer and Salvage Fraud. over the phone or online), or whilst at physical premises (e.g. Buying a car is a major purchase; it is also usually a complex transaction involving a contract, financing, and a warranty. CREDIT KARMA OFFERS, INC. 1100 Broadway, STE 1800 Oakland, CA 94607 In general, there are no laws or rules providing a return period when you purchase a vehicle. Can you return a used car within 3 days, 30 days or 90 days? READ MORE: Questions to ask when buying a used car . Make sure to take your time and shop around. This site may be compensated through third party advertisers. Car dealers are usually not obligated to let you return a car. You may be able to return a used vehicle to the dealer if you suspect that the dealer withheld information about the vehicle or made false promises. However, if you have purchased a used car and believe it to be defective, you may not be afforded the same legal rights. Illinois Legal Aid: Buying and Keeping a Used Car, Federal Trade Commission: Buying a Used Car, Car Dealerships Get Creative to Entice Buyers, If Humans Were Built to Withstand a Car Crash, They Might Look Like This, Information about the device's operating system, Information about other identifiers assigned to the device, The IP address from which the device accesses a client's website or mobile application, Information about the user's activity on that device, including web pages and mobile apps visited or used, Information about the geographic location of the device when it accesses a website or mobile application. Keep in mind that if you choose to extend your loan term, you may pay more in interest over the life of the loan. You will want to think carefully about each of these aspects of your decision. The money we make helps us give you access to free credit scores and reports and helps us create our other great tools and educational materials. But since we generally make money when you find an offer you like and get, we try to show you offers we think are a good match for you. This two part series on car purchasing and leasing will provide tips on how you can get the right car and be protected under the Lemon Law. Credit Karma Offers, Inc. NMLS ID# 1628077 | Licenses | NMLS Consumer Access, Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on Reddit (Opens in new window), Jennifer Brozic is a freelance financial services writer with a bachelor’s degree in journalism from the University of Maryland and a master’s degree in communication management from Tow…. August 2014. We are continually improving the user experience for everyone, and applying the relevant accessibility guidelines. This should help prevent you from being in a situation where you need to return the car. If you respond to a classified ad and the seller has several cars for sale but does not have a car lot or showroom, you may be dealing with a “curbstoner,” who is an unlicensed auto dealer. Your APR will be determined based on your credit at the time of application. If you can’t afford your payments and are unable to sell your car or refinance your loan, reach out to the lender to discuss a different payment schedule or options for a voluntary repossession. Availability of products, features and discounts may vary by state or territory. If you suspect unlawful practice, consult South Carolina's Unfair and Deceptive Acts and Practices, or UDAP, law, which is written in the state's legal code under Chapter 5 of Title 39, which contains Commerce and Trade. To make matters worse, your lender may still report the repossession to the credit bureaus, which could negatively affect your credit scores and credit reports for up to seven years. However, Wisconsin law says that before it can investigate your case, you must tell the dealership about the problem and give it an opportunity to resolve the situation. iPhone is a trademark of Apple Inc., registered in the U.S. and other countries. We think it's important for you to understand how we make money. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. It's pretty simple, actually. California loans arranged pursuant to Dep't of Business Oversight Finance Lenders License #60DBO-78868. Unfortunately, the answer is usually no. You might have some options if you decide that you don’t want the car anymore or that you can’t afford the monthly loan payments. car dealership). "Buying and Keeping a Used Car." If your warranty includes this restriction, however, you should provide an estimate of the total repair cost before work is started. Weird & Wacky, Copyright © 2021 HowStuffWorks, a division of InfoSpace Holdings, LLC, a System1 Company. Carvana seems to be the heavyweight in online used cars. However, there are some exceptions. Credit Karma, Inc. and Credit Karma Offers, Inc. are not registered by the NYS Department of Financial Services. Credit Karma is committed to ensuring digital accessibility for people with disabilities. Product name, logo, brands, and other trademarks featured or referred to within Credit Karma are the property of their respective trademark holders. It’s accurate to the best of our knowledge when posted. Florida has no “cooling off” period or other specified time within which a buyer may voluntarily and unilaterally return the vehicle free of penalty and cancel the sales agreement in typical transactions. App Store is a service mark of Apple Inc. While there is a limited 4-day period during which all purchases can be rescinded in the state of Texas, such a grace period does not exist when it concerns the purchase of an automobile. In fact, there generally aren’t any laws or rules guaranteeing a return period for anything. Credit Karma Mortgage, Inc. NMLS ID# 1588622 |, Credit Karma Offers, Inc. NMLS ID# 1628077 |. If it does not meet these requirements, you have the right to claim against the dealer for breach of contract. Just don’t forget to do your homework before you start car shopping. If the dealer has rolled back the odometer, for example, that constitutes fraud. However, not all dealers will have the same time frame for returns. If you’re concerned about this, your local department of motor vehicles can supply you with all the forms and information you’ll need ahead of time. The easiest way to find out whether a dealer accepts returns is to ask — ideally, before you make a purchase. You should then get a refund within a fortnight of the dealer getting the car back. Online-only used car sellers tend to have generous return provisions to make you feel comfortable. If you purchase a “lemon” and the dealer can’t fix the problem after a certain number of attempts, you may be entitled to a refund or a replacement car that’s similar in value to the one you purchased. When you buy a used car from a dealer and sign a cancellation clause, you can return it as long as you return it within the conditions of the cancellation agreement. This includes your trade-in vehicle. Only mortgage activity by Credit Karma Mortgage, LLC., dba Credit Karma is licensed by the State of New York. You can ask the seller for a refund, but nothing under California law permits you to legally return the vehicle to the seller for a refund. If you purchased your vehicle from a car dealership, file a complaint with the BMV’s Dealer Division and the Indiana Attorney General’s Consumer Complaint Division. Fix it or Ditch it: Is it Time to Replace Your Ride? You consent to our cookies if you continue to use our website. THE USED CAR LEMON LAW If a New Jersey dealer sells you a used car that is defective, you may be eligible for relief under the Used Car Lemon Law. It also recommended that used car buyers obtain the original buyer's guide or a copy that came with the vehicle from the dealer. (June 15, 2015) http://www.illinoislegalaid.org/index.cfm?fuseaction=home.dsp_Content&contentID=1368. If the dealer states that the car had never been in a serious accident and you discover that it has, you have a good case for fraudulent misrepresentation. In most cases, it’s up to dealer policies (unless otherwise required by law). 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