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Submitted 294 days ago...

Bobbert1

Bobbert1

New User (1)

Is there a 72 hour grace period following a purchase of a vehicle?

I recently purchased a used SUV from a well known dealer. They had me sign a contract that they said was approved at 6% interest through a lender. Four days later, they called me back in to sign missed papers of the contract-only to find that they had increased my interest to 9.6% stating that no bank would accept me at the previous 6%. At this time I told them that it was bad business practice to misinform me of accepted lower interest rate just so I would sign the contract. I tried to return vehicle stating that I would not accept the increase. They informed me that I had had the vehicle to long. So I signed the new contract under much distress. My guestion to you is can I return the vehicle within this 72 hours. Or do I have to suck it up like the dealership has informed me...?

 
 
 
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Answer 1 / 5

Submitted 293 days ago...

sidelko

sidelko

Brain (3,031)

Had you not signed the 2nd round of papers, I think you would have had a better chance of returning the SUV and getting out of it. But at this point it would be a challenge because you

1. signed papers to buy the car with a 6% loan
2. drove the car off the lot
3. signed papers to buy the car at 9.6% after they had their "mistake"

 

Answer 2 / 5

Submitted 293 days ago...

sidelko

sidelko

Brain (3,031)

And to answer your question about 72 hours. At least in Colorado, some dealers do that, many do not.

So I would go talk it up with the head manager at the dealer as your last chance to get out of it.

 

Answer 3 / 5

Submitted 293 days ago...

Ruchele

Ruchele

Brain (3,118)

The 72 hour rule applys to the "lemon law", if there is no major defect in the vehical, they don't have to let you return it, but some dealerships do, and laws vary from state to state. If you have not signed any final papers than you should be able to return it. This happend to my daughter, I went with her (the hard nosed mom figure) to return the vehical, when we got done she received $2000 back of her down payment, a lower rate, and payment and went home with the car.

 

Answer 4 / 5

Submitted 293 days ago...

sidelko

sidelko

Brain (3,031)

In his case Ruchele, it sounds like he signed all the final paper work and contracts and even the amended 9.6% contract.

But I still think it would be worth going and talking with the manager and state your case as to why you should take it back.

 

Answer 5 / 5

Submitted 36 days ago...

Skoolie

Skoolie

Brain (2,051)

Once you sign those final papers the car is yours. There is no 72 hour gracve period after the signing.

 
 

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