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Columns: Driving for Dollars
Terry Jackson   Expert: Terry Jackson
Driving for Dollars
Maintenance costs not grounds to cancel
Driving for Dollars

Car buyers don't get 'cooling off' time
 

Dear Terry,
I have just purchased a used automobile from a dealer here in Atlanta. I want to return it because I will not be able to cover the regular maintenance of the vehicle. When work needs to be done on the vehicle, it will be too expensive for me. The purchase is just three days old. Can I return the vehicle?
-- Sallie

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Dear Sallie,
There is no "cooling off" period when it comes to car sales. Once you've signed the papers and left the lot, the car is yours.

But I question why you're so afraid of possible repair bills just days into ownership? Is something amiss already? If so, is there a warranty on the vehicle?

Otherwise, a fear of high maintenance costs is not grounds for undoing the deal.

Here are this week's reader questions:
GM: credit crunch hasn't killed loans
Do I get 'cooling off' time after I buy a car?
Will my loan troubles put me in prison?
Can I take over my brother-in-law's car loan?
Bankrate.com's corrections policy -- Posted: Oct. 3, 2008
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