I have had many people ask me about the 72 hour rule for buying cars, they are referencing a law that says that a consumer can change their mind or return a major purchase within 72 or 3 days from purchase. Many people believe that they can do the same thing with an automobile, but they are mistaken.
What 72 Hour Rule for Buying an Automobile?
Buying an automobile does not fall under that law when you go to a car dealership and sign a contract to buy a car. The details vary from state to state slightly, but overall once you signed the contract or buyers order paperwork you signed a binding legal document. The reason most people don’t know about the 72 hour rule for buying a car is because most people take a vehicle purchase very seriously and don’t have a reason to return their purchase.
However there are people that have either not done their homework or they were talked into buying something they couldn’t really afford by a very good car salesman. You would be surprised how many people go to buy a car without doing any research and then when they get home and the excitement fades they read their paperwork and find out they paid more than they thought. The first thing that comes to mind is the 3 day rule for buying an automobile and they want to return their newly purchased car.
You will also find a post about the new car spot delivery which has some similar information. I have talked about written many times about how important it is to read your paperwork carefully before you sign anything because there is no 72 hour rule about buying a car. It doesn’t matter if you buy a new or used vehicle because you are signing a contract to purchase. There are a lot of documents to sign when you buy an automobile and most of them are designed to protect the car dealership not the buyer.
I can’t say enough about how buying a car is serious business and if you don’t have your head in the game the dealer can clean out your wallet or purse every step of the way. Selling cars is big business and automobile dealerships do this everyday and if there is a way to make more money off of your vehicle purchase they will find it. You are on your own when you buy a car, there are laws to protect the consumer, but they know what they can do and can’t do to stay within the law. It is wise to follow the prudent car buying steps that you will find in the menu bar above to protect yourself and your hard earned money.
There are some car dealers that offer a return policy when you buy a car from them, but you better read the fine print. You will find yourself paying for mileage and buying a more expensive vehicle to qualify. So forget about any kind of 72 hour rule for buying a car or 3 day return law on vehicle purchases. Once you sign on the line you are the owner. Spend some time doing your research before you buy a car and take it seriously.