Signed Car Purchase Agreement Can I Back Out

As a general rule, there is no right of termination or «cooling-off period» as soon as a customer has signed a contract to purchase a vehicle, unless a dealer has violated the Car Dealers Act (MVDA) or the Consumer Protection Act (CPA) or a condition of a contract is not met. For this reason, each sales contract, in addition to the buyer`s signature, must contain the following statement: Please check the entire contract, including all attached statements, before signing. This contract is final and binding once you have signed it, unless the car dealership has not complied with certain legal obligations. One thing many people want to rely on to terminate a car purchase contract is a cooling-off period. A cooling-off period is something that is written in sales contracts that can protect the buyer in the event of high-pressure sales tactics. Many people view buying at a car dealership as a high-pressure sales environment, but Edmunds points out that there is usually no time to think about buying cars. Part of the justification for this is the value of the car. If dealers need cooling, they would be forced to sell virtually brand new vehicles for a fraction of the price and would probably not be able to keep it running. Purchases of used or new cars are common, but not all sales satisfy a buyer. After driving a car for a day or two, you may find that you don`t like the way the vehicle travels or that you can detect mechanical problems. Cancelling an agreement after signing the papers is not easy. Although some transactions include a three-day right of withdrawal or a right of withdrawal, this is not a legal obligation for automotive transactions and is usually left to the discretion of the seller.

For example, if someone in Massachusetts buys a car and there is no safety inspection within seven days of purchase, the buyer can return the car for a full refund. . . .