Latest time to back-out of a new vehicle purchase (in a state with no cooling-off period)

Like I thought, no right to return it. Dealer may allow it, at their option. Or some states allow sales of an insurance policy that permits a return.

Looked up our state statutes, there is a 3 day clause if bought at a car show, but if bought at the dealer once you sign it is a contract, and to back out involves a maximum 5% penalty.

If someone argues against purchasing new vehicles because they depreciate the moment you drive them off the lot I inform them it is actually when you sign the contract. 5 out of my last 6 purchases have been new with no problems.

Ten years ago I worked at a high volume dealer, there was the occasional report of a typical young coupe with questionable credit staging a purchase of a new car. For some reason they would be trusted to take the vehicle pending financing only to be rejected by the finance company the next day. Called with the common “bring the car back, we can’t finance you” routine however the couple is away on a two week vacation, then drops the vehicle off with 3,000 miles on it, “we didn’t like it anyway”.

I recall a particular 2008 Avenger on the dealer’s inventory recall list. I was looking for the car to perform the recall necessary before sale, the keys were always checked out, “pending sale”. The vehicle was finally found in an impound lot after 18 months with 40,000 miles on it. When I performed the recall the car was full of clothes and personal items. Hard to believe someone could drive without a license plate for that long before being caught.

I don’t believe casual return of $30,000 vehicles is reasonable, this would lead to inappropriate use of new vehicles, used by people for trips that can’t rent a vehicle.