Most auto lenders pay dealers a hidden fee to offer you a higher interest rate than you deserve based on your credit history. A good credit score usually means you can get the lowest interest rates. This score is a financial “report card” based on the way you handle your loans and credit. √ A copy of your credit score if you are getting a loan. These “extras” are often overpriced and unnecessary. √ The specific price for add-ons like anti-theft devices, fabric protection, extended service contracts and “gap” insurance. √ The price of the vehicle without extra options and add-ons. Under the new law, auto dealers must give you in writing: However, these cars could still have a variety of serious, expensive problems, so you should have even a “certified” used car inspected by your mechanic before you buy. ‘Certified’ used carsĭealers call used cars that have been inspected by a mechanic “certified pre-owned vehicles.” They can’t advertise or sell certain problem cars as “certified.” √ Arrange for a ride home from the dealership, or take a taxi. √ If possible, take a witness with you when you return the car. √ The dealer does not have to offer you the return option on the next car you buy from the same dealership. Tip: Don’t get stuck buying an even worse car from the same dealer. But the dealer does not have to give you your old car until two days after you return the car you just bought. If your trade-in is sold early, the dealer must give you the car’s fair market value or the price listed in the cancellation agreement, whichever is more. If you get the return option, the dealer must keep your trade-in until your return option expires. √ Shop around and negotiate to get the best protection for the price. Tip: Some auto dealers may offer the return option and restocking fee for a lower price, or even for free. If the dealer refuses to accept the vehicle when you return it within two days, make a note of the date, time and mileage on the vehicle. To protect yourself from false claims, photograph the car inside and out before you drive it away. When you return the car, the dealer is allowed to charge you for damage you caused to the vehicle. Take good care of the car and don’t speed or abuse it. √ Sign the written notice of cancellation the dealer provides and keep your copy. √ Return the vehicle and the original paperwork in person before the date and time noted on your contract. √ Make copies of the contract and other purchase documents because you are required to deliver your originals to the dealer. √ Make sure the vehicle is in the same condition it was when you bought it. Exception: If the dealer gives you written permission to have more time. Exception: If the dealer gives you written permission to drive it farther. √ Drive the vehicle fewer than 250 miles. Restocking fee minus return option charge This is the maximum the dealer can charge. Maximum price covered by the law is $40,000Īny charge must be deducted from the restocking fee. (The chart below shows the most you can be charged.) Price of the vehicle √ You are buying the car “as is.” Returning a car under the optionĭealers can charge buyers for the return option-and a restocking fee if you return the car. √ You did not get the car inspected yet by your own trusted technician. Tip: You can get the option for any reason, such as: If you get the option, you can return the vehicle by the deadline for any reason. The dealer can charge you for this option. But if you choose to buy a used car at a dealership, you can protect yourself by getting a return option. Never buy a car if you feel you are being pressured. You can purchase a two-day return option on used vehicles that cost $40,000 or less. The law does not cover private sales between individuals, leased autos, vehicles purchased or registered in another state, commercial vehicles, recreational vehicles and motorcycles. Some provisions in the law cover only used cars, while others cover new and used cars. The law applies to motor vehicles bought in California from a dealer for personal, family or household use, including cars, minivans, SUVs and trucks. California car buyers have important rights that have changes the way millions of cars are bought and sold in California.
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