Today is the first weekday of National Consumer Protection Week. As part of this week’s event focusing on consumer education, we’ll post a daily consumer tip. Today’s tip has to do with buying a vehicle.
One of the most common myths of consumer law is that auto buyers have a three-day “cooling off” right to cancel a purchase. False!
There is no three-day right of cancellation when purchasing a vehicle at the dealer’s main place of business. Once you sign the contract, you are obligated to make the payments.
The good news is there are lots of tools for you to become an educated car buyer. We’ve posted helpful information, including:
- How to analyze your car needs and pick the correct vehicle
- How to price a car
- Comparing auto loans
- How to negotiate a final price
- Understanding sales contracts
And we have an entire section dedicated to buyer precautions, including a list of the common misleading tactics used by some car dealers.